Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,155,328 CAKE tokens (worth $23 million) this week. The decentralized exchange generated 209k CAKE ($530k) in trading fees for its V2 Swap and Perpetual market, up 53% from the previous week. Pancakeswap V3 also generated 316k CAKE ($802k), up 160%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 4,095 CAKE ($10.4k)
The Predictions and Lottery markets generated 56k CAKE ($143k) and 28k CAKE ($71k), respectively. The NFT marketplace generated 400 CAKE ($1000), down 13% 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 3% today and is currently trading at $2.464.
