Hassan Maishera
The Pancakeswap team told its community via X on Monday that it has burned 9,171,676 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 177k CAKE ($295k) in trading fees for its V2 Swap and Perpetual market, down 9% from the previous week. Pancakeswap also generated 156k CAKE ($260k), up 140%. The Predictions and Lottery markets generated 62k CAKE ($104k) and 28k CAKE ($47k), respectively. The NFT marketplace generated 100 CAKE ($200), down 19% 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 5% today and is currently trading at $1.740.
