Hassan Maishera
The Pancakeswap team told its community via Twitter on Tuesday that it has burned 8,502,679 CAKE tokens (worth $13 million) this week. The decentralized exchange generated 170k CAKE ($256k) in trading fees for its V2 Swap and Perpetual market, up by 8% from the previous week. Pancakeswap also generated 60k CAKE ($91k) for V3. The Predictions and Lottery markets generated 88k CAKE ($133k) and 37k CAKE ($55k), respectively. The NFT marketplace generated 1.0k CAKE ($2k), down by 14% 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 4% today and is currently trading at $1.486.
