On Tuesday, the Pancakeswap team informed its community via X that it has a deflation of 516k CAKE ($1.27M). The deflation figures were released after AMM V2 burned 309k CAKE ($761k), up 100%, and AMM V3 burned 286k CAKE ($704k), down 38%. Other sources (Prediction, Perpetual, etc.) burned 77k CAKE ($190k), down 10%. PancakeSwap is a decentralized exchange (DEX) based on the BNB Chain, using an automated market maker (AMM) model to swap BEP-20 tokens. CAKE rose 4.9% today, currently trading at $2.744 USDT.