Governance token concentration (Gini)
PancakeSwap's assessment for RD-F-047 — scored red on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Plutocratic 1-CAKE-1-vote governance with no time-weighting (veCAKE retired May 2025). April 2025 manipulation: 8 addresses controlled ~25M CAKE (~50% unlocked supply) pre-vote. No quorum. De facto concentration is high. Gini coefficient not formally computed but documented manipulation event demonstrates single-entity domination feasibility.
Sources #
- DocsPancakeSwap GovernancePancakeSwap governance docs — 1 CAKE = 1 vote, no quorum, no delegationretrieved 2026-04-28
- PancakeSwap governance concentration eventProtos — 8 addresses locked 25M CAKE before governance voteretrieved 2026-04-28
Methodology #
Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol pancakeswap factor RD-F-047 score red collected_at 2026-04-28 19:10:57