Hassan Maishera
The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 9,545,849 CAKE tokens (worth $21 million) this week. The decentralized exchange generated 200k CAKE ($434k) in trading fees for its V2 Swap and Perpetual market, up by 59% from the previous week. Pancakeswap also generated 87k CAKE ($189k) for V3. The Predictions and Lottery markets generated 54k CAKE ($116k) and 35k CAKE ($77k), respectively. The NFT marketplace generated 8k CAKE ($2k), up by 34% 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 by 1% today and is currently trading at $2.142.
