Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 1.36M CAKE ($3.72M). The deflation figure follows the burning of 545k CAKE ($1.50M)by AMM V2, up 18%, and the destruction of 667k CAKE ($1.83M) by AMM V3, up 21%. AMM Infinity also destroyed 11.9k CAKE ($32.5k). Other Sources (Prediction, Perpetual, etc.) burned 133k CAKE ($366k), down 18%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 3.9% today and is currently trading at $2.661.
