Hassan Maishera
The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 9,194,111 CAKE tokens (worth $11 million) this week. The decentralized exchange generated 222k CAKE ($256k) in trading fees for its V2 Swap and Perpetual market, up by 3% from the previous week. Pancakeswap also generated 54k CAKE ($62k) for V3. The Predictions and Lottery markets generated 70k CAKE ($81k) and 37k CAKE ($43k), respectively. The NFT marketplace generated 6k CAKE ($1k), down by 5% 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 by 1% today and is currently trading at $1.134.
