PancakeSwap Amplifies Post on 27% Rise in Weekly Token Burn

PancakeSwap amplified a social media post describing a weekly burn of 365,000 units of the PancakeSwap token (CAKE), worth about $690,000, a 27% rise from the prior week.

PancakeSwap’s fee-funded buy-and-burn mechanism uses a portion of weekly fees to purchase CAKE for burning. In the period covered by earlier coverage of the mechanism, about 22% of weekly fees — roughly $32 million on an annualized basis — went to the process. CAKE recorded net supply declines for 37 consecutive months through that period.