Hassan Maishera
The Pancakeswap team told its community via X on Monday that it has burned 9,219,752 CAKE tokens (worth $27 million) this week. The decentralized exchange generated 189k CAKE ($564k) in trading fees for its V2 Swap and Perpetual market, up by 64% from the previous week. Pancakeswap also generated 91k CAKE ($271k)) for V3, down by 8%. The Predictions and Lottery markets generated 48k CAKE ($142k) and 28k CAKE ($85k), respectively. The NFT marketplace generated 500 CAKE ($2k), down by 86% 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 by 5% today and is currently trading at $2.654.
