What Is PancakeSwap (CAKE Token)? | bitcoin news | crypto news

PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. To learn more about this project, check out our deep dive of…

What Is PancakeSwap (CAKE Token)? | bitcoin news | crypto news

Source

0
(0)

PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.

To learn more about this project, check out our deep dive of Pancakeswap.

It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.

These tokens can later be used to reclaim their share of the pool, as well as a portion of the trading fees. These LP tokens are known as FLIP. PancakeSwap also allows users to farm additional tokens such as CAKE and SYRUP. On the farm, users can deposit LP tokens and get rewarded with CAKE.

PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens of other projects.

Who Are the Founders of PancakeSwap?
PancakeSwap is a Binance Smart Chain-based decentralized exchange (DEX) that was launched by anonymous developers with an apparent passion for pancakes.

What Makes PancakeSwap Unique?
PancakeSwap uses an automated market maker model, meaning that there are no order books and liquidity pools are used instead. A user can earn income by becoming a liquidity provide; by adding their tokens to the liquidity pool they can farm LP tokens and stake their CAKE to earn rewards. They can also try their luck with the lotteries and non-fungible tokens.

The PancakeSwap token CAKE is a BEP20 token that originally launched on Binance Smart Chain. The main function of CAKE is to incentivize the liquidity provision to the PancakeSwap platform.

TELEGRAM : https://t.me/mostcryptonews
TWITTER : https://twitter.com/cryptonewseng
SUBSCRIBE: https://bit.ly/3g7vdxL
JOIN : https://www.youtube.com/channel/UCqaFUzq65hVmJcMuD7UdjVA/join

Music: Spark Of Inspiration by Shane Ivers – https://www.silvermansound.com
Licensed under Creative Commons Attribution 4.0 International License
https://creativecommons.org/licenses/by/4.0/
Music promoted by https://www.chosic.com/

source : https://coinmarketcap.com/currencies/pancakeswap/

crypto news, crypto news today, bitcoin news, bitcoin news today
#bitcoin #btc #cryptocurrency #crypto

0 / 5. 0