Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,174,769 CAKE tokens (worth $13 million) this week. The decentralized exchange generated 185k CAKE ($264k) in trading fees for its V2 Swap and Perpetual market, down 6% from the previous week. Pancakeswap V3 also generated 254k CAKE ($361k), up 23%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 174 CAKE ($200).
The Predictions and Lottery markets generated 84k CAKE ($120k) and 29k CAKE ($42k), respectively. The NFT marketplace generated 300 CAKE ($400), down 4% 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 $1.437.
