What Is PancakeSwap (CAKE)?
Code : CAKE
Type : BEP-20 Token
Category : Empower Pancake Network
About Pancake Swap
Pancake Swap is an Automated Market Maker (AMM) - a Decentralized Finance (DeFi) software that permits customers to Exchange tokens, imparting liquidity via farming and income costs in Return.
It was released in September 2020 and is a decentralized alternative to exchanging BEP20 tokens in the Finance Smart Chain. Five service uses an automated market maker model where users oppose a liquidity pool. These pools are filled by users who deposit their deposits Money and Liquidity Providers (LP) in the pool receive tokens Return.
These tokens can later be used to reclaim their proportion of the pool, in addition to a part of the buying and selling fees. These LP tokens are known in the form of FLIP. Pancake Swap also allows users to cultivate additional tokens such as CAKE and SYRUP. On the farm, users can collect LP Reward with tokens and CAKE.
Pancake Swap allows users to trade BEP20 tokens, providing liquidity To collect LP tokens, to earn exchange and fees, Bet CAKE to earn more CAKE, and bets CAKE to collect tokens of other projects.
Company Founders & Team Behind
The founders of Pancakeswap are anonymous. We could not find any relevant data on any of the founder.
Type Of Token
Cake Is An BEP-20 Token
No Limit On Total Supply.
Pancake Swap Can Be Minted.
How does Pancakeswap work?
PancakeSwap uses An Automated Market Maker model, i.e. no order books, instead, a cash pool is used. The user may make money by providing liquidity by adding their tokens to the liquidity pool. They can also nurture LP Tokens and stake their CAKE to win prizes. They can also participate in lotteries and non-fungible tokens.
PancakeSwap never holds your assets directly in large hot wallets. Because of this, DEXs are far more secure than centralised exchanges. Furthermore, the site has taken measures to advertise its safe reputation. CertiK performed a third-party audit on PancakeSwap. CertiK's Security Oracle, CertiK Shield, DeepSEA, and Virtual Machine capabilities were specifically added by the developers. Despite the fact that the platform is still in its early stages, it has never been successfully hacked.
PancakeSwap does not use the Ethereum network, although it uses BSC network and BEP-20 token. The resulting fee paid is very low, typically $ 0.04 to $ 0.20, and transactions take less than 5 seconds on average.
BEP20 tokens can be traded.
- Earn profits by providing liquidity to the exchange.
- Stake the CAKE to receive tokens from other projects.
- CAKE must be staked in order to earn additional CAKE.
- To gain CAKE tokens, stake your LP (liquidity provider) tokens.
Real World Use
PancakeSwap is a platform for Initial Farm Offerings
PancakeSwap serves as a market for non-fungible tokens
Tokenized assets such as Tesla, Google, and Netflix shares are available for trading.
Contributes to the creation of new token pools.
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PLEASE NOTE: The above information is issued in public interest to create more awareness around various cryptocurrencies. However Aclaran Protocol, or any of its associate companies takes no responsibility of the above information. Please Do Your Own Research Before Investing.