Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 894k CAKE (-$3.24m). The deflation figure follows the burning of 169k CAKE ($612k) by AMM V2, down 37%, and the destruction of 642k CAKE ($2.32M) by AMM V3, down 14%. AMM Infinity also destroyed 6.2k CAKE ($22.6k). Other Sources (Prediction, Perpetual, etc.) burned 77k CAKE ($277k), down 6%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 9% today and is currently trading at $3.920.
