Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,046,926 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 139k CAKE ($231k) in trading fees for its V2 Swap and Perpetual market, down 25% from the previous week. Pancakeswap V3 also generated 211k CAKE ($351k), down 17%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 182 CAKE ($300).
The Predictions and Lottery markets generated 89k CAKE ($148k) and 31k CAKE ($52k), respectively. The NFT marketplace generated 200 CAKE ($300), down 49% 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 7% today and is currently trading at $1.888.
