Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 8,947,590 CAKE tokens (worth $19 million) this week. The decentralized exchange generated 167k CAKE ($365k) in trading fees for its V2 Swap and Perpetual market, up 16% from the previous week. Pancakeswap V3 also generated 140k CAKE ($306k), up 21%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 6,711 CAKE ($14.6k).
The Predictions and Lottery markets generated 66k CAKE ($144k) and 28k CAKE ($61k), respectively. The NFT marketplace generated 200 CAKE ($500), up 60% 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 $2.276.
