Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 566k CAKE ($1.15M). The deflation figure comes after AMM V2 burned 169k CAKE ($344k), down 6%, and AMM V3 destroyed 470k CAKE ($.96M), down 9%. AMM Infinity also destroyed 1k CAKE ($2k). Other Sources (Prediction, Perpetual, etc.) burned 79k CAKE ($160k), down 9%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 8.5% today and is currently trading at $2.211.
