Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 948k CAKE ($1.30M). The deflation figure follows the burning of 498k CAKE ($684k) by AMM V2, up 11%, and the destruction of 317k CAKE ($435k) by AMM V3, up 54%. AMM Infinity also destroyed 31.7k CAKE ($44k), up 47%. Other Sources (Prediction, Perpetual, etc.) burned 101k CAKE ($138k), 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 1.8% today and is currently trading at $1.34.
