Hassan Maishera
The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 9,235,6055 CAKE tokens (worth $21 million) this week. The decentralized exchange generated 131k CAKE ($300k) in trading fees for its V2 Swap and Perpetual market, up by 2% from the previous week. Pancakeswap also generated 97k CAKE ($222k)) for V3, down by 4%. The Predictions and Lottery markets generated 42k CAKE ($96k) and 33k CAKE ($76k), respectively. The NFT marketplace generated 5k CAKE ($1k)), down by 41% 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 6% today and is currently trading at $2.163.
