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Pancakeswap Burns $23M Worth Of CAKE Tokens

Hassan Maishera - Cryptowisser
2022-07-19 10:47
The Pancakeswap team told its community via Twitter on Monday that it has burned 6,708,159 CAKE tokens (worth $23 million) this week. The decentralized exchange generated $730k (212k CAKE tokens) in trading fees for its Spot and Perpetual market and $5k (2k CAKE tokens) from its NFT marketplace. The Predictions and Lottery markets generated 136k CAKE ($468k) and 33k CAKE ($114k), respectively.
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 more than 0.81% today and is currently trading at $3.420.
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