Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,899,627 CAKE tokens (worth $28 million) this week. The decentralized exchange generated 397k CAKE ($1,117k) in trading fees for its V2 Swap and Perpetual market, up 186% from the previous week. Pancakeswap V3 also generated 833k CAKE ($2,343k), up 296%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 7,706 CAKE ($21.7k).
The Predictions and Lottery markets generated 59k CAKE ($167k) and 30k CAKE ($85k), respectively. The NFT marketplace generated 300 CAKE ($800), up 77% 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 2.5% today and is currently trading at $2.693.
