Hassan Maishera
The Pancakeswap team told its community via X on Monday that it has burned 9,009,844 CAKE tokens (worth $14 million) this week. The decentralized exchange generated 129k CAKE ($198k) in trading fees for its V2 Swap and Perpetual market, up 33% from the previous week. Pancakeswap also generated 177k CAKE ($273k), down 14%. The Predictions and Lottery markets generated 93k CAKE ($143k) and 31k CAKE ($47k), respectively. The NFT marketplace generated 200 CAKE ($400), up 6% 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 3% today and is currently trading at $1.587.
