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Pancakeswap Burns $36 Million Worth Of CAKE Tokens

Twitter icon  •  Published 4 years ago on May 10, 2022  •  Hassan Maishera

The Pancakeswap team told its community via Twitter on Tuesday that it has burned $36 million worth of CAKE tokens (6,168,996 CAKE).

Pancakeswap Burns $36 Million Worth Of CAKE Tokens

The Pancakeswap team told its community via Twitter on Tuesday that it has burned $36 million worth of CAKE tokens (6,168,996 CAKE). It went on to generate $55k from its NFT marketplace and another $2 million as trading fees for its Spot and Perpetual market.

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 more than 9% today and is currently trading at $6.183.

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Hassan Maishera Senior Reporter

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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