Hassan Maishera
The Pancakeswap team told its community via Twitter on Tuesday that it has burned 8,275,823 CAKE tokens (worth $12 million) this week. The decentralized exchange generated 111k CAKE ($166k)in trading fees for its V2 Swap and Perpetual market, down by 17% from the previous week. Pancakeswap also generated 56k CAKE ($84k) for V3. The Predictions and Lottery markets generated 86k CAKE ($128k) and 35k CAKE ($53k), respectively. The NFT marketplace generated 1.2k CAKE ($2k), down by 52% 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 down by 1% today and is currently trading at $1.488.
