Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,153,690 CAKE tokens (worth $21 million) this week. The decentralized exchange generated 156k CAKE ($355k) in trading fees for its V2 Swap and Perpetual market, down 7% from the previous week. Pancakeswap V3 also generated 124k CAKE ($282k), down 11%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 246 CAKE ($0.6k).
The Predictions and Lottery markets generated 63k CAKE ($143k) and 28k CAKE ($63k), respectively. The NFT marketplace generated 1,100 CAKE ($2,400), up 60% from last week.
PancakeSwap is a BNBChain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 5% today and is currently trading at $2.110.
