PancakeSwap (CAKE) - a decentralized finance (DeFi) application that allows users to swap tokens, providing liquidity through farming and earning fees in return.
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Description of PancakeSwap (CAKE)
PancakeSwap - an automated market maker (AMM). The project was launched in September 2020 and is a decentralized exchange for the exchange of BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker model where users trade against a pool of liquidity. These pools are filled with users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.
How does the tokens work:
| 1 | These tokens can later help to recover their share of the pool as well as a portion of the trading fees. LP tokens are known as FLIP. |
| 2 | PancakeSwap also allows users to process additional tokens such as CAKE and SYRUP. On the farm, users can deposit LP tokens and get rewards with CAKE. |
The platform allows users to trade BEP20 tokens, provide liquidity to the exchange and earn commissions, stake LP tokens to earn CAKE.
Platform benefits
PancakeSwap - a decentralized exchange (DEX), powered by Binance Smart Chain and launched by anonymous developers with an obvious passion for pancakes. The platform uses an automated market maker model.
Project advantages:
| Income | Users can earn income by becoming a liquidity provider. By adding your tokens to the liquidity pool, you can process LP tokens and stake to earn rewards. They can also try their luck with lotteries and non-fungible tokens. |
| Rewards | Users can stake their tokens to earn rewards, which is done by depositing Liquidity Provider tokens and locking them up. This is known as farming and is rewarded by the system with CAKE tokens. |
Tokens can be canceled with zero holding time. CAKE gives users the opportunity to invest and increase returns in the future, but comes with risks. The token can help to participate in the PancakeSwap lottery. Each lottery session takes 6 hours. One ticket costs 10 coins and comes with a random combination of four numbers from 1 to 14. To win the jackpot, which is equal to 50% of the entire lottery pool, the numbers on your ticket must match all four numbers on the winning ticket.
Where to buy cryptocurrency?
PancakeSwap CAKE Token - a BEP20 token, originally launched on Binance Smart Chain. The main function of CAKE - to stimulate the provision of liquidity to the platform. You can buy and sell PancakeSwap (CAKE) on the following exchanges:
- Binance;
- VCC Exchange;
- BKEX;
- KuCoin;
- MXC.COM.
Coins can be stored securely on supported wallets, connected to Binance Smart Chain. These include MetaMask, TrustWallet, TokenPocket and WalletConnect.