PancakeSwap: The total amount of CAKE decreased by 0.189% in March, with deflation for 7 consecutive months
On April 5th, PancakeSwap, a decentralized exchange, released its report on the destruction of CAKE tokens in March. The data shows that as of April 2nd, PancakeSwap successfully destroyed 0.189% of the total supply of CAKE in March, marking the 7th consecutive month of decline in the total amount of CAKE.
The report indicates that PancakeSwap achieved a net minting of -731,042 CAKE in March, meaning that the number of tokens destroyed exceeded the number minted that month. The total minting of CAKE in March was 1,058,264, mainly from farms, CAKESyrupPool, and other product usage, while the total destruction was 1,789,306, mainly from transaction fees, prediction markets, NFT markets, etc.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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