Friends, few people pay attention, but Pancake burns a huge amount of its tokens weekly, reducing inflation.
3 May 2021 it was:
- Burned 5,143,789 CAKE ~ $ 216,966,407!
- Burned Bought back $ 7.8M CAKE from the market (trading + prediction commissions)
- Burned $ 87,500 + CAKE equivalent with auto-compound fees.
- Burned $ 280,000 + CAKE from NFT + Profiles purchases
PancakeSwap
- Total Value Locked (TVL) - $ 5,114,724,522 (5 yards)
- Market Cap - $ 6,128,149,429.37 (6 yards)
Something similar exists about Binance, where they spend 10-20% of their profits quarterly to buy back the BNB token from the market and then burn it. The result is impressive, BNB ~ $ 650.
And yes, the price since January 2021, that is, in 4 months made x100
