Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 1.20M CAKE ($3.59M). The deflation figure follows the burning of 461k CAKE ($1.38M) by AMM V2, down 35%, and the destruction of 551k CAKE ($1.65M) by AMM V3, down 13%. AMM Infinity also destroyed 21.5k CAKE ($64.6k). Other Sources (Prediction, Perpetual, etc.) burned 163k CAKE ($488k), up 76%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 2.68% today and is currently trading at $2.75.
