Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 8,977,246 CAKE tokens (worth $25 million) this week. The decentralized exchange generated 144k CAKE ($406k) in trading fees for its V2 Swap and Perpetual market, down 31% from the previous week. Pancakeswap V3 also generated 116k CAKE ($326k), down 63%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 94 CAKE ($0.3k).
The Predictions and Lottery markets generated 42k CAKE ($117k) and 26k CAKE ($73k, respectively. The NFT marketplace generated 100 CAKE ($400), down 66% 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 1.5% today and is currently trading at $2.770.
