PancakeSwap Released Monthly Report for October

PancakeSwap released its October CAKE burn report, marking the 38th consecutive month in which burns exceeded minting. The protocol minted 674,316 CAKE and burned 1,790,527 CAKE, reducing net supply by 1,116,211 CAKE, or 0.339%.

Refer to the official tweet by CAKE:

CAKE Info

PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). It uses an automated market maker (AMM) model, which allows users to trade directly with a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return. Users can also earn rewards by providing liquidity or staking LP tokens. The native utility token of PancakeSwap is CAKE, which can be used for staking to earn rewards, participating in lotteries, and voting in governance decisions.