Cryptocurrency

What is PancakeSwap (CAKE)?

It is a BEP-20 token that was launched on Binance Smart Chain in September of 2020.

Bonarous

Turkey

5th, August 2021 (9 months ago)
$ 0.21986499
2
155 Views

It is produced to promote liquidity supply on the PancakeSwap platform. There is no maximum supply. It continues to be produced continuously by mining, besides, idle CAKEs are constantly burned in lottery entries. Thus, the circulating supply increases to an average of 550 thousand per day. Everything that can be done on Uniswap, and even more, can be done on the PancakeSwap platform, not on the Ethereum network, but on the Binance Smart Chain network. NFTs are also available on PancakeSwap. In addition, project IFOs, that is, first farming offers, are made on an ongoing basis. Thus, new projects can be easily invested.

PancakeSwap; It is the 3rd highest volume decentralized exchange after MDEX and Uniswap (V2). It is one of the apples of the eye of the DeFi industry. It has also managed to get Binance support behind it. Binance Academy has a comprehensive and detailed guide to using PancakeSwap. PancakeSwap is the largest platform on the Binance Smart Chain by number of users and trading volume.