Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 858k CAKE ($1.73M). The deflation figure follows the burning of 555k CAKE ($1.12M) by AMM V2, down 10%, and the destruction of 197k CAKE ($398k) by AMM V3, up 34%. AMM Infinity also destroyed 24.9k CAKE ($50k), up 16%. Other Sources (Prediction, Perpetual, etc.) burned 80k CAKE ($162k), down 1%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 0.7% today and is currently trading at $1.99.
