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Pancakeswap burns another $23 million worth of CAKE tokens

Hassan Maishera - Cryptowisser
2022-07-25 12:40
The Pancakeswap team told its community via Twitter on Monday that it has burned 6,898,491 CAKE tokens (worth $23 million) this week. The decentralized exchange generated $1 million (302k CAKE tokens) in trading fees for its Spot and Perpetual market and $2k (1k CAKE tokens) from its NFT marketplace. The Predictions and Lottery markets generated 113k CAKE ($381k) and 40k CAKE ($134k), 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 2% today and is currently trading at $3.353.
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