Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 606k CAKE ($1.98M). The deflation figure comes after AMM V2 burned 119k CAKE ($390k), down 7%, and AMM V3 destroyed 562k CAKE ($1.84M), up 16%. AMM Infinity also destroyed 3.7k CAKE ($12.3k). Other Sources (Prediction, Perpetual, etc.) burned 71k CAKE ($234k), down 12%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 5.8% today and is currently trading at $2.843.
