The Pancakeswap team told its community via Twitter on Monday that it has burned 6,835,261 CAKE tokens (worth $21 million) this week. The decentralized exchange generated $1 million (242k CAKE tokens) in trading fees for its Spot and Perpetual market and $3k (1k CAKE tokens) from its NFT marketplace. The Predictions and Lottery markets generated 141k CAKE ($441k) and 29k CAKE ($91k), respectively.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by more than 2% today and is currently trading at $3.150