Vol. I, No. 1 Monday, August 31, 2026 PancakeSwap — Governance Rights Report
Executable rights. Machine-readable determinations.

Probity Institute

PancakeSwap — Governance Rights Report

Verdict

PancakeSwap

CAKE — Governance Rights Report
Tier 3 S1 — Token-Governed Protocol Assessment as of 2026-10-01
GSA-1 fail GSA-2 fail GSA-3 near-miss GSA-4 fail GSA-5 fail GSA-6 fail GSA-7 fail GSA-8 fail

Why this rating: CAKE Tokenomics 3.0 (2025) RETIRED veCAKE + gauge voting (Apr 23 2025) and ENDED the revenue-sharing program (May 7 2025), keeping an automated buy-back-and-burn (fee share -> CAKE burn) and a passed Reduce-CAKE-Max-Supply proposal. Governance is off-chain Snapshot (cakevote.eth, ~3740 proposals) with team/multisig execution — decorative rights, though the automated burn is a notable economic feature. GSA-3 near-miss: automated buy-back-and-burn is live via contract (fee share from spot/perps), but governance is off-chain and the veCAKE revenue-share was REMOVED in 2025 — burn is protocol policy, not a token-holder-enforceable right; GSA-1/GSA-2 fail: Snapshot off-chain signaling, team/multisig-gated execution; no recallable authority

Where to Vote

Proposal History

No proposal history is available for PancakeSwap in the current scanner window.

Metrics

Curated metric — next quarterly update. On-chain revenue, treasury, and distribution-enforcement reads are not yet wired for this DAO's space in the Institute's state files; the quarterly re-assessment cycle will populate this block.

Structure & History

Structure: S1 — Token-Governed Protocol.

S1-S5 protocol business structure taxonomy, as-of 2026-08-27 (structure taxonomy date); scores as-of 2026-10-01 (first scored 2026-07-23; quarterly recheck #2, cycle 2026-08-31 -> 2026-10-01)

Assessment flags