Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned 7,038,341 CAKE tokens (worth $30 million) this week. The decentralized exchange generated $806,000 (189k CAKE tokens) in trading fees for its Swap and Perpetual market, up by 20% from the previous week. The Predictions and Lottery markets generated 71k CAKE ($302k) and 30k CAKE ($130k), respectively. The NFT marketplace generated 566 CAKE ($2k), down by 26% from last week.
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 $4.483.
