Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 498k CAKE ($1.02M). The deflation figure follows the burning of 167k CAKE ($344k) by AMM V2, down 9%, and the destruction of 208k CAKE ($428k) by AMM V3, up 33%. AMM Infinity also destroyed 36.7k CAKE ($76k), down 10%. Other Sources (Prediction, Perpetual, etc.) burned 86k CAKE ($177k), up 10%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 0.06% today and is currently trading at $2.064.
