- PancakeSwap, the leading DEX on Binance Smart Chain, releases its own crypto game, Pancake Protectors.
- Pancake Protectors allows players to utilize CAKE and earn rewards while playing.
- CAKE’s price increased by more than 16% following the announcement.
PancakeSwap, the leading decentralized exchange on Binance Smart Chain (BSC), has made a groundbreaking move by releasing its own crypto game, Pancake Protectors. The successful launch of the first DEX-backed GameFi platform has resulted in a surge in the price of CAKE.
On May 29, PancakeSwap introduced Pancake Protectors, integrating the exchange platform’s native token, CAKE, into the gameplay. According to the official blog, the integration of their token in the game allows players to utilize CAKE and earn rewards while playing.
After PancakeSwap’s GameFi platform announcement, CAKE’s price rapidly surged within a few hours. According to CoinMarketCap, the token experienced a significant increase of over 16%, propelling its price from $1.55 to a 24-hour high of $1.80. However, CAKE has experienced a slight pullback and is currently trading at $1.73.
This game launch marks a turning point for CAKE, as it renews optimism following several months of losses. Notably, CAKE has endured a significant impact during the crypto winter, experiencing a staggering decline of over 96% from its all-time high of $44.18 in April 2021.
Pancake Protectors combines gameplay designed by MOLand Defense and game technology powered by the PvP GameFi protocol, Mobox. It falls within the tower defense (TD) subgenre of strategy games, where players strategically position defensive structures on assigned maps to safeguard territories and possessions.
While some have categorized Pancake Protectors as a play-to-earn (P2E) game, the pseudonymous head chef of PancakeSwap, known as Mochi on Twitter, clarifies that this game does not follow the play-to-earn model. Mochi states, “Our larger goal of reaching ultrasound CAKE means that we are not using inflationary models that increase CAKE emissions to drive the game’s growth.”
Prior to the official launch on the mainnet, PancakeSwap released a beta version of Pancake Protectors on May 19. This allowed players to familiarize themselves with the gameplay mechanics and features in preparation for the highly anticipated debut.
