The Pancakeswap team told its community via Twitter on Monday that it has burned 6,839,824 CAKE tokens (worth $30 million) this week. The decentralized exchange generated $501,000 (113k CAKE tokens) in trading fees for its Swap and Perpetual market. The Predictions and Lottery markets generated 55k CAKE ($245k) and 30k CAKE ($134k), respectively.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by 1% today and is currently trading at $4.386.