Decentralized exchange PancakeSwap moves to GameFi

Decentralized Exchange (DEX) PancakeSwap on May 29th announced that it had launched a new tower-defense GameFi game in conjunction with the BNB GameFi protocol Mobox. Dubbed “Pancake Protectors”, the game allows players to earn in-game rewards using the DEX’s native CAKE token.

Utilities for the CAKE token within Pancake Protectors include speeding up the level-up process, purchasing in-game currency, claiming CAKE heroes, staking CAKE to earn resources, and unlocking game levels . There will also be an in-game marketplace for trading CAKE heroes, which can be further enhanced by participating in a lottery awarding Nonfungible Token (NFT) upgrade rewards. The developers explained the game as follows:

“Adapted from MOBOX’s Moland Defense game, players assume the role of a commander to collect hero characters across various levels and engage in a tower defense game. Cake Hero characters are the most iconic characters in the game and with Cake Tokens can be purchased.

In addition, players integrate their NFTs with in-game heroes and display them on their PancakeSwap profiles.

Launched in 2020, PancakeSwap has become one of the most popular DEXs, with over $462 billion in cumulative trading volume and over $2.5 billion in total value locked.

In April, the DEX passed the Pancakeswap v2.5 Tokenomics proposal to reduce its CAKE token inflation rate from 20% to a target range of 3% to 5%. The price of the CAKE token subsequently fell 36% over the past month to $1.73 at the time of publication, as nominal CAKE staking rewards were less valuable. Prior to the offering, PancakeSwap operated a high-token-emission model to encourage user adoption.

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