PancakeSwap(CAKE)
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Modified on: Fri, 22 Sep, 2023 at 2:00 PM
Launched in September 2020 by a team of anonymous developers with a love for pancakes, syrup, and rabbits, PancakeSwap is a decentralized exchange on the Binance Smart Chain that allows users to trade between different BEP20 tokens. Similar to its Ethereum-based counterpart SushiSwap; PancakeSwap is a fun, food-themed Automated Market Maker (AMM) that is helping facilitate the growth and mass adoption of the Decentralized Finance industry. PancakeSwap is one of the largest and most heavily used DeFi projects on the Binance Smart Chain and the continued support from Binance and other prominent stakeholders means PancakeSwap’s future looks bright. The deliciously named CAKE token is PancakeSwap’s native governance token and is also used to incentivize users to provide liquidity on the PancakeSwap platform. CAKE can also be staked to earn more CAKE or even to earn tokens of other projects, CAKE can be used to enter PancakeSwap’s 6-hour lottery, as well as trading CAKE for exclusive PancakeSwap NFTs.
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