Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned 7,132,544 CAKE tokens (worth $29 million) this week. The decentralized exchange generated $572,000 (141k CAKE tokens) in trading fees for its Swap and Perpetual market, down by 25% from the previous week. The Predictions and Lottery markets generated 64k CAKE ($259k) and 24k CAKE ($99k), respectively. The NFT marketplace generated 539 CAKE ($2k), down by 5% 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 1% today and is currently trading at $4.018.
