PancakeSwap Expands & Burns

PancakeSwap enhances its DEX offerings while burning 102% of new CAKE tokens weekly under its deflationary model.

Lido Strengthens Ethereum Staking

Lido DAO shifts focus to Ethereum and Polygon, boosting staking flexibility with its V2 upgrade.

FTX Token Faces Uncertainty

FTT struggles post-bankruptcy, as legal proceedings cloud its future despite past buyback and burn programs.

Altcoin opportunities heat up as PancakeSwap’s deflationary CAKE model thrives, Lido DAO reshapes Ethereum staking, and FTX Token fights for relevance.

PancakeSwap (CAKE) Expands Offerings and Implements Deflationary Model

Current price: $2.59
Market cap: $754.87M
PancakeSwap operates as a decentralized exchange (DEX) built on BNB Chain while expanding its variety of products and services. The platform offers users swapping tokens alongside yield farming and Syrup Pool staking features as well as Ethereum liquid staking through wBETH. The platform includes unique features such as Initial Farm Offering (IFO) launches, an NFT marketplace, and prediction markets with lottery systems.

PancakeSwap established “Ultrasound CAKE” as its deflationary token model in April 2023, introducing the CAKE Tokenomics v2.5 proposal. It operates a model that decreases supply emissions while burning over 102% of newly produced CAKE tokens each week.

Lido DAO (LDO) Strengthens Ethereum Staking Infrastructure

Current price: $1.86
Market cap: $1.64B
Lido DAO offers Ethereum staking, letting users deposit ETH to obtain stETH tokens, which represent users’ staked ETH investments and generated rewards. Users can trade these tokens. Through governance, users manage protocol decisions using the LDO token as the native currency.

Lido ceased support for Solana staking activities and now serves only Ethereum and Polygon. Lido V2 enhances staking flexibility, allowing users to trade stETH on secondary markets or use the tokens within LSDfi protocols, focusing on a robust staking infrastructure for Ethereum without compromising network safety.

FTX Token (FTT) Status Amid Legal Proceedings

Current price: $2.13
Market cap: $703.13M
FTX Token (FTT) is under scrutiny following FTX’s bankruptcy in November 2022. Launched in 2019, FTT served as the native token for trading fee discounts and staking rewards. FTX managed a buyback and burning program to reduce the marketplace supply of FTT tokens.