Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had a deflation of 339k CAKE (-0.12% of CAKE Supply). The deflation figure comes after AMM V2 burned 136k CAKE ($342k) and AMM V3 destroyed 358k CAKE ($904k). Other Sources (Prediction, Perpetual, etc.) burned 75k CAKE ($189k).
Meanwhile, AMM V2 minted 78k CAKE ($196k), while AMM V3 minted another 117k CAKE ($295k). Other Sources (Lottery, CAKE pool, etc.) minted 35k CAKE ($89k), bringing the total deflation to -339k CAKE (-0.12% of CAKE Supply).
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 3% today and is currently trading at $2.688.
