Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 8,981,080 CAKE tokens (worth $16 million) this week. The decentralized exchange generated 186k CAKE ($330k) in trading fees for its V2 Swap and Perpetual market, down 4% from the previous week. Pancakeswap also generated 115k CAKE ($204k), up 30%. Finally, the fees generated from Non-AMM like Perpetual, Position manager, etc) were 314 CAKE ($0.6k).
The Predictions and Lottery markets generated 54k CAKE ($96k) and 26k CAKE ($46k), respectively. The NFT marketplace generated 100 CAKE ($100), down 28% 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 2.5 % today and is currently trading at $1.827.
