Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,201,869 CAKE tokens (worth $18 million) this week. The decentralized exchange generated 219k CAKE ($418k) in trading fees for its V2 Swap and Perpetual market, up 38% from the previous week. Pancakeswap also generated 210k CAKE ($402k), up 68%. Finally, the fees generated from Non-AMM like Perpetual, Position manager, etc) were 507 CAKE ($1.0k).
The Predictions and Lottery markets generated 71k CAKE ($137k) and 30k CAKE ($58k), respectively. The NFT marketplace generated 100 CAKE ($100), down 49% 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 1% today and is currently trading at $1.933.
