Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 1.42M CAKE ($3.28). The deflation figure follows the burning of 671k CAKE ($1.55M) by AMM V2, up 23%, and the destruction of 632k CAKE ($1.46M) by AMM V3, down 5%. AMM Infinity also destroyed 17.8k CAKE ($41.1k). Other Sources (Prediction, Perpetual, etc.) burned 98k CAKE ($227k), down 26%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 6.4% today and is currently trading at $2.19.
