top of page

$11 Million CAKE Tokens Burn by PancakeSwap

Updated: Aug 29, 2023

PancakeSwap deliberately burns roughly 8.67 million CAKE tokens, valued at around $11 million, according to its twitter page.

These tokens, sourced from diverse channels within PancakeSwap's ecosystem such as transactions, lotteries, the NFT market, and earned fees, were obliterated in alignment with PancakeSwap's approach to managing token supply and optimizing token economics.

Token burns hold notable significance in the cryptocurrency realm. By curbing the total tokens in circulation, they introduce a sense of scarcity, potentially influencing the token's valuation. PancakeSwap's carefully managed burn underscores responsible token governance and community interests.


DISCLAIMER: This article is solely for informational purposes and not for financial, investment, or trading advice, and should not be relied upon for making decisions. Furthermore, has no positions in the cryptocurrency mentioned in this article at the time of writing. For more see our full disclosure here.

4 views0 comments


bottom of page