Hi Radovan, thanks for your suggestion. Currently, the CAKE token has already been deflationary for ~3 months or so. Therefore, under the current pace, the ~65M remaining CAKE will not be emitted. In fact, for the time being CAKE total supply will continue to fall.
The reason for the 450M cap is mentioned here.
- Ensure sufficient flexibility for growth: 450M CAKE is a reasonable new cap to implement in order to ensure sufficient supply for future growth (e.g., gaining market share on Ethereum, Ethereum L2s, and new initiatives like position managers)
PancakeSwap is currently still in the growth phase where the protocol can attract more liquidity and generate higher levels of trading volumes in the coming years. As we continue to grow PancakeSwap, emissions would be instrumental to grow these initiatives at a fast pace relative to other platforms.
Just as a single example, with the introduction of veCAKE, we expect to be working with more protocols, especially the recent grantees of the metagovernance grant, to onboard additional liquidity onto PancakeSwap. Liquidity that is onboarded onto PancakeSwap may require CAKE incentives (either from existing veCAKE emissions, or additional CAKE emissions if there is a lot of demand).
Despite what I wrote above, the Kitchen continues to aim for the growth of PancakeSwap while keeping emissions deflationary, as we have done so in the last 3 months.