Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned $31 million worth of CAKE tokens (6,920,843 CAKE) this week. It went on to generate $45k from its NFT marketplace and another $2 million as trading fees for its Spot and Perpetual market. The Predictions and Lottery markets generated 154k CAKE ($696k) and 32k CAKE ($146k) respectively.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by more than 1% today and is currently trading at $4.678.
