Hassan Maishera
The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 8,506,585 CAKE tokens (worth $25 million) this week. The decentralized exchange generated 107k CAKE ($319k) in trading fees for its V2 Swap and Perpetual market, down by 14% from the previous week. Pancakeswap also generated 103k CAKE ($308k) for V3, up by 10%. The Predictions and Lottery markets generated 38k CAKE ($114k) and 25k CAKE ($75k), respectively. The NFT marketplace generated 1.1k CAKE ($3k), down by 51% 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 $2.945.
