Hassan Maishera
The Pancakeswap team told its community via X on Monday that it has burned 9,130,803 CAKE tokens (worth $37 million) this week. The decentralized exchange generated 179k CAKE ($721k) in trading fees for its V2 Swap and Perpetual market, up by 13% from the previous week. Pancakeswap also generated 157k CAKE ($629k) for V3, up by 11%. The Predictions and Lottery markets generated 43k CAKE ($172k) and 23k CAKE ($91k), respectively. The NFT marketplace generated 900 CAKE ($4k), up by 61% 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 8% today and is currently trading at $4.210.
