On May 29, decentralized exchange (DEX) PancakeSwap advertisement which had released a new tower defense game GameFi along with the GameFi protocol, Mobox. baptized as “Pancake Protectors”, the game allows players to use the DEX’s native CAKE tokens for in-game rewards.
The uses of CAKE tokens in Pancake Protectors include speeding up the leveling process, buying in-game currency, claiming CAKE heroes, staking to gain resources, and unlocking game levels. There will also be an in-game market to trade CAKE heroes, which can be upgraded by participating in lotteries with non-fungible token (NFT) upgrade rewards. The developers explained the game as follows:
“Adapted from the MOBOX game MOland Defense, players take on the role of a commander to gather hero characters through various levels and engage in tower defense gameplay. CAKE heroes are the most coveted characters in the game and can be buy with CAKE tokens”.
Also, players integrate their NFT with the in-game heroes and display it on their PancakeSwap profile.
Launched in 2020, PancakeSwap has become one of the most popular DEXs, with $462 billion of cumulative trade volume and over $2.5 billion of total value locked.
In April, the DEX approved the Pancakeswap v2.5 tokenomic proposal to reduce its CAKE token inflation rate from over 20% to a target range of 3-5%. Subsequently, the price of CAKE tokens plummeted 36% in the past month, to $1.73 at press time, due to lower value of nominal rewards for CAKE staking. Prior to the proposal, PancakeSwap operated on a high token issuance model to encourage user adoption.
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