Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,586,824 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 333k CAKE ($523k) in trading fees for its V2 Swap and Perpetual market, up 129% from the previous week. Pancakeswap V3 also generated 574k CAKE ($902k), down 34%. Other Sources (Prediction, Perpetual, etc.) was 115k CAKE ($180k), up 86%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 5% today and is currently trading at $1.480.
