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Pancakeswap burns $77 million worth of CAKE tokens

Hassan Maishera - Cryptowisser
2022-01-17 15:42
Decentralized exchange Pancakeswap announced earlier today that it had burned 6,597,257 CAKE tokens (worth $77 million). The exchange also bought back 279k CAKE ($3.3M) from the market (Trading, Prediction, NFT Market).
Pancakeswap generated 26k CAKE ($300k) in pool fees. PancakeSwap is a Binance Smart Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens.
CAKE is trading at $11.22 at press time, down by 0.7% in the last 24 hours.
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