Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had a deflation of 522k CAKE ($1.04M). The deflation figure comes after AMM V2 burned 171k CAKE ($340k), up 28%, and AMM V3 destroyed 560k CAKE ($1.12M), down 7%. Other Sources (Prediction, Perpetual, etc.) burned 63k CAKE ($125k), down 35%.
Pancakeswap added that approximately 5.29 million CAKE has been delegated from the CAKE Pool: 1.17 million to StakeDAO and 4.12 million to CakePie. The 5.29 million CAKE delegated from the CAKE Pool is now permanently locked in the original CAKE pool (burned and irrecoverable by any party). However, it will need to be returned to those protocols for full redemption.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 1.3% today and is currently trading at $1.972.
