Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,092,771 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 232k CAKE ($378k) in trading fees for its V2 Swap and Perpetual market, up 25% from the previous week. Pancakeswap also generated 132k CAKE ($215k), up 15%. Finally, the fees generated from Non-AMM like Perpetual, Position manager, etc) were 246 CAKE ($0.4k).
The Predictions and Lottery markets generated 68k CAKE ($111k) and 28k CAKE ($45k), 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 down 1% today and is currently trading at $1.61.
