Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 777k CAKE ($1.17M). The deflation figure follows the burning of 449k CAKE ($678k) by AMM V2, up 8%, and the destruction of 205k CAKE ($310k) by AMM V3, down 15%. AMM Infinity also destroyed 21.5k CAKE ($33k), down 23%. Other Sources (Prediction, Perpetual, etc.) burned 102k CAKE ($154k), up 3%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 0.4% today and is currently trading at $1.58.
