Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 8,936,093 CAKE tokens (worth $16 million) this week. The decentralized exchange generated 155k CAKE ($272k) in trading fees for its V2 Swap and Perpetual market, up 3% from the previous week. Pancakeswap also generated 76k CAKE ($134k), down 41%.
Furthermore, trading fees generated from non-AMM companies, such as perpetual, position manager, etc., were 57 CAKE ($0.6k), up 23% from the previous week. The Predictions and Lottery markets generated 74k CAKE ($131k) and 28k CAKE ($50k), respectively. The NFT marketplace generated 100 CAKE ($200), down 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 down 2% today and is currently trading at $1.720.
