PancakeSwap Launches Pancake Protectors, Sparks CAKE Price Surge

PancakeSwap, the leading decentralized exchange on Binance Smart Chain (BSC), has made a groundbreaking move by releasing its own crypto game, Pancake Protectors. The successful launch of the first DEX-backed GameFi platform has resulted in a surge in the price of CAKE.

On May 29, PancakeSwap introduced Pancake Protectors, integrating the exchange platform’s native token, CAKE, into the gameplay. According to the official blog, the integration of their token in the game allows players to utilize CAKE and earn rewards while playing.

After PancakeSwap’s GameFi platform announcement, CAKE’s price rapidly surged within a few hours. According to CoinMarketCap, the token experienced a significant increase of over 16%, propelling its price from $1.55 to a 24-hour high of $1.80. However, CAKE has experienced a slight pullback and is currently trading at $1.73.

This game launch marks a turning point for CAKE, as it renews optimism following several months of losses. Notably, CAKE has endured a significant impact during the crypto winter, experiencing a staggering decline of over 96% from its all-time high of $44.18 in April 2021.

Pancake Protectors combines gameplay designed by MOLand Defense and game technology powered by the PvP GameFi protocol, Mobox. It falls within the tower defense (TD) subgenre of strategy games, where players strategically position defensive structures on assigned maps to safeguard territories and possessions.

While some have categorized Pancake Protectors as a play-to-earn (P2E) game, the pseudonymous head chef of PancakeSwap, known as Mochi on Twitter, clarifies that this game does not follow the play-to-earn model. Mochi states, “Our larger goal of reaching ultrasound CAKE means that we are not using inflationary models that increase CAKE emissions to drive the game’s growth.”

Prior to the official launch on the mainnet, PancakeSwap released a beta version of Pancake Protectors on May 19. This allowed players to familiarize themselves with the gameplay mechanics and Features in preparation for the highly anticipated debut.

Comments

Post a Comment

Popular posts from this blog

Hedera (HBAR) Price Prediction 2025

Image
Join Our Telegram channel to stay up to date on breaking news coverage The price of Hedera (HBAR) will skyrocket in the near future. The main reason for this is the rapid development of the platform’s revenue. Hedera Hashgraph (HBAR) had extraordinary revenue growth due to its Consensus Service. The hedera system utilizes a hashgraph, with nodes exchanging information using a gossip protocol. This method seeks to improve the efficiency of blockchain processes. Brief overview of Hedera (HBAR) Hedera is a publicly distributed ledger and governing body that was started in 2018 by Leemon Baird, Mance Harmon, and Zenobia Godschalk. It was built from the ground up to serve both new and old applications running at a web scale. It uses distributed ledger technologies to build computational trust into its applications. This lets businesses and people who might not know each other or trust each other work together quickly and cheaply, even if they don’t know each other or trust each
Read more

Bitcoin price derivatives look a bit overheated, but data suggests bears are outnumbered

Image
Bullish BTC traders are using excessive leverage, but bears’ reluctance to fight back could extend the current Bitcoin price rally. Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors' risk assessment for cryptocurrencies. A stronger than expected U.S. inflation report on Feb. 14 presented 5.6% growth year-over-year, followed by data showing resilient consumer demand caused traders to rethink Bitcoin's scarcity value. U.S. retail sales increased by 3% in January versus the previous month — the highest gain in almost two years. On-chain data indicates that the recent gains can be traced back to a mysterious institutional investor that started buying on Feb. 10. According to Lookonchain's data, nearly $1.6 billion in funds have flowed into the crypto market between Feb. 10 and Feb. 15. The analysis sh
Read more

Just-In: Binance CEO Confirms Progress On Bitcoin Lightning Network

Image
Bitcoin Lightning Network On Binance The integration of the Bitcoin Lightning Network by exchange is underway with some technical works pending. They tweeted about the progress saying: advertisement Some eagle-eyed users spotted our new lightning nodes recently. Yes – that’s us! By leveraging the Lightning Network, Binance can enable faster and more scalable Bitcoin transactions, offering a smoother user experience. Update for full-integration by Binance is awaited . In a tweet by CZ, he expressed his exchange’s dedication to continuous growth. He stated, Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read
Read more