Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 544k CAKE ($1.23m). The deflation figure follows the burning of 116k CAKE ($262k) by AMM V2, down 45%, and the destruction of 471k CAKE ($1.06M) by AMM V3, down 23%. AMM Infinity also destroyed 16.1k CAKE ($36.4k). Other Sources (Prediction, Perpetual, etc.) burned 94k CAKE ($213k), up 16%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 4.8% today and is currently trading at $2.32.
