Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 1.46M CAKE ($4.89M). The deflation figure follows the burning of 713k CAKE ($2.39M)by AMM V2, up 321%, and the destruction of 630k CAKE ($2.11M) by AMM V3, down 2%. AMM Infinity also destroyed 21.2k CAKE ($71.2k). Other Sources (Prediction, Perpetual, etc.) burned 92k CAKE ($310k), up 21%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 1.68% today and is currently trading at $3.420.
