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Pancakeswap burned $58 million worth of tokens this week
Hassan Maishera - Cryptowisser
2022-04-26 11:44
The Pancakeswap team announced via Twitter on Monday that it burned 6,711,720 CAKE tokens, worth $58 million. The decentralized exchange earned 231,000 CAKE tokens ($2 million) from trading fees last week, down by 19% from the previous week. The fees generated from the NFT and Predictions markets increased week-over-week.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by 8% today and is currently trading at $8.240.
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