Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,497,984 CAKE tokens (worth $25 million) this week. The decentralized exchange generated 184k CAKE ($549k) in trading fees for its V2 Swap and Perpetual market, up 40% from the previous week. Pancakeswap also generated 221k CAKE ($658k), up 1%. Finally, the fees generated from Non-AMM like Perpetual, Position manager, etc) were 278 CAKE ($0.8k), down 94%.
The Predictions and Lottery markets generated 49k CAKE ($148k) and 25k CAKE ($74k), respectively. The NFT marketplace generated 100 CAKE ($200), down 68% 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 9% today and is currently trading at $3.263.
