Pancakeswap Burns 6,928,951 CAKE Tokens This Week
Hassan Maishera - Cryptowisser
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The Pancakeswap team told its community via Twitter on Monday that it has burned 6,928,951 CAKE tokens (worth $26 million) this week. The decentralized exchange generated $1 million (277k CAKE tokens) in trading fees for its Swap and Perpetual market. The Predictions and Lottery markets generated 62k CAKE ($230k) and 30k CAKE ($110k), respectively. The NFT marketplace generated 1k CAKE ($3k).
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens.
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