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Pancakeswap Burns $31 Million Worth Of CAKE Tokens This Week

Twitter icon  •  Published 1 год назад  •  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

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.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.