Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 867k CAKE ($1.73M). The deflation figure follows the burning of 617k CAKE ($1.23M) by AMM V2, up 269%, and the destruction of 148k CAKE ($294k) by AMM V3, down 29%. AMM Infinity also destroyed 21.6k CAKE ($43k), down 41%. Other Sources (Prediction, Perpetual, etc.) burned 81k CAKE ($161k), down 6%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 1.87% today and is currently trading at $1.947.
