PancakeSwap Launches GameFi

PancakeSwap, a decentralized exchange (DEX), announced the launch of a new tower defense GameFi game in conjunction with the BNB GameFi protocol Mobox on May 29.

The “Pancake Protectors” game allows players to earn in-game rewards using the DEX’s native CAKE tokens.

In Pancake Protectors, CAKE tokens can speed up the leveling process, purchase in-game currency, claim CAKE heroes, stake CAKE to earn resources, and unlock game levels.

There will also be an in-game marketplace for trading CAKE heroes, which can be improved by participating in a lottery awarding non-fungible token (NFT) upgrade rewards.

The following is how its designers described the game:

“Adapted from MOBOX’s MOland Defense Game, players assume the role of a commander to assemble hero characters across various levels and engage in a tower defense game. CAKE hero characters are the most coveted characters in-game and can be purchased with CAKE tokens.”

In addition, players display their NFT alongside their in-game heroes on their PancakeSwap profiles.

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

In April, the DEX approved the Pancakeswap v2.5 tokenomics proposal to reduce the CAKE token inflation rate from over 20% to 3%–5%.

Due to the lower value of nominal CAKE staking rewards, the price of CAKE tokens has decreased by 36% over the past month to $1.73 at publication.

Before the proposal, PancakeSwap utilized a model with a high token emission rate to encourage user adoption.