Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 605k CAKE ($1.1M). The deflation figure follows the burning of 184k CAKE ($337k) by AMM V2, down 23%, and the destruction of 251k CAKE ($460k) by AMM V3, up 13%. AMM Infinity also destroyed 41.6k CAKE ($76.2k). Other Sources (Prediction, Perpetual, etc.) burned 129k CAKE ($236k), up 63%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 1.9% today and is currently trading at $1.79.
