Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 990k CAKE ($2.38M). The deflation figure follows the burning of 243k CAKE ($584k) by AMM V2, down 55%, and the destruction of 634k CAKE ($1.52M) by AMM V3, down 21%. AMM Infinity also destroyed 29.6k CAKE ($71.0k). Other Sources (Prediction, Perpetual, etc.) burned 83k CAKE ($200k), down 11%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 2.1% today and is currently trading at $2.324.
