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On May 29, decentralized exchange (DEX) PancakeSwap announced the launch of a new GameFi tower defense game in conjunction with the GameFi Mobox BNB protocol. Dubbed “Pancake Protectors”, the game allows players to use their own CAKE DEX tokens to earn in-game rewards.
Utilities for CAKE tokens in Pancake Protectors include speeding up the leveling process, buying in-game currency, getting CAKE heroes, CAKE betting to get resources, and unlocking game levels. There will also be an in-game marketplace for the CAKE hero trade, which can be further enhanced by participating in sweepstakes that award rewards for leveling up non-fungible tokens (NFTs). The developers explained the game as follows:
“Adaptation of MOland Defense Game by MOBOX. Players take on the role of a commander as they collect hero characters through different levels and participate in a tower defense game. CAKE Heroes are the most coveted characters in the game and can be purchased with CAKE Tokens.
In addition, players integrate their NFT with in-game heroes and display it on their PancakeSwap profile.
Launched in 2020, PancakeSwap has become one of the most popular DEXs with a combined trading volume of $462 billion and a total locked value of over $2.5 billion.
In April, the DEX adopted the Pancakeswap v2.5 tokenomics proposal to reduce the inflation rate of the CAKE token from over 20% to a target range of 3% to 5%. The price of CAKE tokens subsequently dropped 36% last month to $1.73 at press time due to the lower value of CAKE staking nominal rewards. Prior to this proposal, PancakeSwap used a high token issuance model to incentivize user adoption.