Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 8,928,831 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 150k CAKE ($247k) in trading fees for its V2 Swap and Perpetual market, down 15% from the previous week. Pancakeswap also generated 129k CAKE ($212k), down 17%.
Furthermore, trading fees generated from non-AMM companies, such as perpetual, position manager, etc., were 290 CAKE ($0.5k), down 19% from the previous week. The Predictions and Lottery markets generated 59k CAKE ($97k) and 27k CAKE ($44k), respectively. The NFT marketplace generated 100 CAKE ($200), down 1% 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 3.3% today and is currently trading at $1.685.
