Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,031,092 CAKE tokens (worth $26 million) this week. The decentralized exchange generated 131k CAKE ($381k) in trading fees for its V2 Swap and Perpetual market, down 41% from the previous week. Pancakeswap also generated 219k CAKE ($637k), up 4%. Finally, the fees generated from Non-AMM like Perpetual, Position manager, etc) were 4,587 CAKE ($13.3k), up 805%.
The Predictions and Lottery markets generated 54k CAKE ($158k) and 30k CAKE ($88k, respectively. The NFT marketplace generated 200 CAKE ($600), up 340% 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 $2.775.
