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AltcoinsPancakeSwap Eliminates 85 Million CAKE Tokens Worth 18 Million

PancakeSwap Eliminates 85 Million CAKE Tokens Worth 18 Million

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PancakeSwap V4 has recently undertaken a substantial token incineration, obliterating 8,589,242 $CAKE tokens from existence. These tokens held an estimated worth of around $18 million USD. This deliberate action is designed to incrementally increase the rarity and market value of the token. It’s anticipated to bolster investor trust and contribute to the enduring viability of the decentralized finance (DeFi) sector.

A colossal **8,589,242 $CAKE** tokens have been incinerated – equivalent to $18M!
**Trading fees (AMM V2):** 82k CAKE ($176k) – a decrease of 44%
**Trading fees (AMM V3):** 144k CAKE ($309k) – an increase of 82%
**Trading fees (Non-AMM platforms like Perpetual, Position manager, etc.):** 0.4k CAKE ($1k) – a decrease of 94%
**Prediction markets:** 63k CAKE ($136k) – an increase of 45%
️ **Lottery:** …
pic.twitter.com/oGgdFmcf5S
— PancakeSwap v4 (@PancakeSwap)
July 1, 2024

**PancakeSwap’s Strategic Token Burn to Fortify Economic Foundations**

PancakeSwap has initiated a targeted token burn with the objective of optimizing token distribution and fortifying its economic structure. The strategy involves diminishing the circulating supply of $CAKE tokens, thereby inducing a deflationary effect on its valuation.

The quantity of tokens burned corresponds to PancakeSwap’s share in various revenue streams. Notably, trading fees across different protocols within the platform have shown varied results. The AMM V2 protocol saw a participation of 82,000 CAKE ($176,000 USD), marking a 44% decline. Conversely, the AMM V3 protocol experienced a surge to 144,000 CAKE ($309,000 USD), an 82% increase.

**Prediction Market Activity on PancakeSwap Witnesses a 45% Uptick in CAKE Contributions**

The prediction market activity on PancakeSwap has seen a significant rise, with contributions increasing by 45% to 63,000 CAKE ($136,000 USD). Additionally, the lottery component has garnered 33,000 CAKE ($69,000 USD), reflecting an overall growth of 39%.

Conversely, trading activities on non-AMM platforms, NFT sales, and gaming revenues have shown varying trends of decline or growth. This underscores PancakeSwap’s diverse revenue generation avenues and its commitment to maximizing operational efficiency and profitability within the DeFi landscape.

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