PancakeSwap (CAKE) Launches Play-to-Earn Program, CAKE Price Up 20%

Decentralized cryptocurrency exchange (DEX) PancakeSwap has launched a Play-to-Earn program (“play and earn”), under which users will have access to a crypto game called Pancake Protectors. According to the official statement, players will be able to receive unique non-fungible tokens (NFTs) and rewards in the native $CAKE token.

The game supports the implementation of third-party NFTs: each player can integrate their own BAYC, MAYC or other $NFT as an avatar image. The technical design of the game is based on the GameFi PvP protocol known as Mobox. Owners of $CAKE tokens get the opportunity to have unit heroes that can increase the characteristics of players. The game features two types of unique NFTs – rabbits and squads, which can be used to enhance the abilities of heroes.

On May 29, 2023, the price of $CAKE, an incentive tool and the main element of the PancakeSwap tokenomic scheme, increased by more than 20%. On Monday morning, the token jumped from $1.54 to over $1.8 on some major spot trading platforms. Thus, the news about the launch of Pancake Protectors helped $CAKE mitigate all the losses of the past week.

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