Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 920k CAKE ($2.12M). The deflation figure follows the burning of 210k CAKE ($483k) by AMM V2, down 14%, and the destruction of 615k CAKE ($1.42M) by AMM V3, down 3%. AMM Infinity also destroyed 16.1k CAKE ($37.0k). Other Sources (Prediction, Perpetual, etc.) burned 82k CAKE ($188k), down 2%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 1.5% today and is currently trading at $2.350.
