BSC DEX PancakeSwap Launches a New Tower-Defense GameFi Game

Two days ago, on May 29th, the Binance Smart Chain (BSC)-based DEX, PancakeSwap, announced that it had launched its first blockchain game.

The game is a tower-defense game, and it allowed PancakeSwap to officially enter the BNB GameFi sector.

The leading decentralized exchange launched the new game in collaboration with the GameFi protocol Mobox.

The game itself is called Pancake Protectors, and it allows players to use CAKE tokens — the DEX’s native cryptocurrency — to earn rewards for playing the game and making achievements.

🎉 The official launch of Pancake Protectors has arrived! 🛡 Unite your heroes, protect your territories, and claim victory! 🦸
🎮 Immerse yourself in the captivating world of tower defense gameplay now: https://t.co/gq5947psCe

🐰 Holders of PancakeSwap Bunnies & Squads gain… pic.twitter.com/D0hAwPcWQB

— PancakeSwap🥞Ev3ryone’s Favourite D3X (@PancakeSwap) May 29, 2023

With that, the CAKE token just got a new utility, becoming a reward token for a Play-To-Earn (P2E) game.

Apart from winning it as a reward, players can also use it to speed up the leveling process, buy the in-game currency, stake the tokens t earn resources, claim CAKE heroes, and even unlock new levels.

👋 What’s up Pancake Protectors? Do you know how to level up your hero using Pancake Bunnies and Squads? 🌟 ⚔️ Add your Squad or Bunnies NFT to upgrade your hero in the “Heroes” section.

🔥 But remember, each hero can be upgraded with only one Bunny or Squad. Choose wisely! 🛡️… pic.twitter.com/UBauI7bhfh

— PancakeSwap🥞Ev3ryone’s Favourite D3X (@PancakeSwap) May 25, 2023

PancakeSwap also stated that there would be an in-game marketplace where users would be able to trade CAKE heroes and participate in lotteries yielding NFT upgrade rewards.

The developers commented on their new 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.

Pancake Protectors, powered by the PvP #GameFi protocol #MOBOX, offer users play the game with thrilling rewards and utilities in $CAKE and exclusive #NFTs. In Season 1, #PancakeProtectors have extra prizes with a total of 10,000 #CAKE 🤟 #iweb3 pic.twitter.com/gWjJFCFe0r

— SanSan (@cryptosansan) May 31, 2023

Players can also integrate their NFTs with CAKE heroes and display them on their profiles on PancakeSwap. That way, they can decorate their profile and show off the rare heroes that they manage to collect.

CAKE token sees a brief surge following the game launch

PancakeSwap is the biggest DEX in Binance’s ecosystem and one of the largest ones in the crypto industry.

It was launched in 2020 as Binance Smart Chain’s response to Uniswap, and since then, it has risen to $462 billion in cumulative trading volume. The platform also has more than $2.5 billion in TVL.

Earlier this year, in April, PancakeSwap passed a new tokenomics proposal (Pancakeswap v2.5).

The proposal revolved around lowering the CAKE token inflation rate. While the inflation rate previously stood at 20%, the proposal brought it down to a target range of 3%-5%.

Soon after the move, however, the price of the CAKE token plunged by 36%, hitting $1.37. This is believed to be the consequence of the drop in the value of nominal CAKE staking rewards.

While the price of CAKE previously dropped to $1.56 earlier this week, the launch of the new game took it up to $1.8 on May 29th. Since then, the price dropped to a support at $1.7 on May 30th, only to break it earlier today.

At the time of writing, the price sits at $1.65 after seeing a 4.53% drop in the last 24 hours. The token’s volume has also dropped by 33.9% in the last day, sinking to $28.4 million.

Lastly, with a market cap of $1.2 billion, CAKE currently sits at 98th on the list of largest cryptocurrencies by market cap.