Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned 6,827,850 CAKE tokens (worth $27 million) this week. The decentralized exchange generated $1 million (356k CAKE tokens) in trading fees for its Swap and Perpetual market. The Predictions and Lottery markets generated 59k CAKE ($229k) and 43k CAKE ($168k), respectively. The NFT marketplace generated 469 CAKE ($2k).
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 3% today and is currently trading at $4.000.
