Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,156,293 CAKE tokens (worth $17 million) this week. The decentralized exchange generated 197k CAKE ($374k) in trading fees for its V2 Swap and Perpetual market, up 26% from the previous week. Pancakeswap V3 also generated 206k CAKE ($391k), up 65%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 218 CAKE ($0.4k).
The Predictions and Lottery markets generated 83k CAKE ($158k) and 30k CAKE ($57k), respectively. The NFT marketplace generated 300 CAKE ($600), down 70% 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 4% today and is currently trading at $1.967.
