Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 8,889,897 CAKE tokens (worth $16 million) this week. The decentralized exchange generated 173k CAKE ($314k) in trading fees for its V2 Swap and Perpetual market, down 3% from the previous week. Pancakeswap also generated 82k CAKE ($149k), down 42%. Finally, the fees generated from Non-AMM like Perpetual, Position manager, etc) were 8,328 CAKE ($15.1k).
The Predictions and Lottery markets generated 57k CAKE ($103k) and 27k CAKE ($50k), respectively. The NFT marketplace generated 900 CAKE ($1,700), up 715% 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 2% today and is currently trading at $1.901.
