The Pancakeswap team told its community via Twitter on Monday that it has burned 7,040,800 CAKE tokens (worth $32 million) this week. The decentralized exchange generated $2 million (439k CAKE tokens) in trading fees for its Spot and Perpetual market and $45k (10k CAKE tokens) from its NFT marketplace. The Predictions and Lottery markets generated 117k CAKE ($532k) and 41k CAKE ($186k), 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 $4.461.