Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 786k CAKE ($1.48M). The deflation figure follows the burning of 417k CAKE ($784k)by AMM V2, down 25%, and the destruction of 242k CAKE ($455k) by AMM V3, up 23%. AMM Infinity also destroyed 27.9k CAKE ($52k), up 12%. Other Sources (Prediction, Perpetual, etc.) burned 99k CAKE ($186k), up23%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 0.9% today and is currently trading at $1.892.
