Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 1.28M CAKE (-$3.25M). The deflation figure follows the burning of 538k CAKE ($1.37M) by AMM V2, down 20%, and the destruction of 800k CAKE ($2.04M) by AMM V3, up 26%. AMM Infinity also destroyed 24.7k CAKE ($62.9k). Other Sources (Prediction, Perpetual, etc.) burned 94k CAKE ($239k), down 5%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 2.4% today and is currently trading at $2.543.
