Hassan Maishera
The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 8,743,965 CAKE tokens (worth $22 million) this week. The decentralized exchange generated 128k CAKE ($323k) in trading fees for its V2 Swap and Perpetual market, down by 36% from the previous week. Pancakeswap also generated 101k CAKE ($253k) for V3. The Predictions and Lottery markets generated 48k CAKE ($122k) and 25k CAKE ($62k), respectively. The NFT marketplace generated 9k CAKE ($2k)), up by 9% 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 $2.675.
