The Pancakeswap team announced via a tweet on Monday that it has partnered with ApolloX to launch perpetual trading services on its decentralized exchange. ApolloX is a cryptocurrency futures trading platform.
PancakeSwap said perpetual trading fees will be used to buy back and burn CAKE tokens. Furthermore, users who deposit CAKE tokens will get a 5% discount on trading fees.
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 less than 7% so far today and is currently trading at $5.43