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CAKE/USD - PancakeSwap US Dollar

Currency in
Real-time Data
Day's Range
52 wk Range
2.016 / 2.017
Vol (24H)
Market Cap
Day's Range
52 wk Range
Max Supply
Circulating Supply
Strong Sell
Strong Buy
Strong Sell
Second:US Dollar
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What is PancakeSwap?

PancakeSwap is a decentralized exchange (DEX) platform that enables users to exchange tokens, provide liquidity through farming and earn interest by providing liquidity. PancakeSwap is an automated market maker (AMM) and does not use an order book like a centralized exchange. Instead, it allows anyone to provide liquidity to a pool, thereby enabling the creation of new markets for any token. Aside from this, the PancakeSwap ecosystem supports non-fungible tokens (NFTs) and allows users to buy and sell NFTs on its platform. It also runs a lottery and prediction market, allowing users to tap into new and upcoming projects before they get listed on major exchanges. Discover more about what crypto is and how it works in our Academy.

How to use PancakeSwap

To leverage the powerful features that the PancakeSwap protocol comes with, you will need to have a few things sorted out. The first is that you need to have one of the supported coins. Some of the popular ones are Binance Coin (BNB) or Binance USD (BUSD).  PancakeSwap facilitates the exchange of BEP-20 tokens, of which BNB is a principal character in both. To buy BNB, you can either use Binance or some other broker or exchange that offers BNB. The next step is to set up a cryptocurrency wallet. You can select from a large variety, but MetaMask, Trust Wallet, Binance Wallets are popular choices supported by PancakeSwap. You can also use SafePal to store your tokens. Once the wallet is set up, you can move on to swap your tokens. Remember to use the right wallet address at all times to avoid loss of funds.

How does PancakeSwap work?

PancakeSwap operates without an order book, a bid/ask system or even a limit/market order. Instead, the AMM allows users to draw liquidity from one pool and then add them to another pool. This way, the liquidity in the subtracted pool changes as well as their relative values. Also, instead of the platform providing all the liquidity, this is done by individuals who are called liquidity providers (LPs). In return, PancakeSwap rewards LPs with LP tokens which usually represent their given share in a particular pool. This way, the tokens are returned in equal measure if an LP wants to get back their original investment.

What makes PancakeSwap unique?

Built on the Binance Smart Chain (BSC), PancakeSwap has become a clear favourite among several DeFi users due to a few reasons. For one, PancakeSwap offers low transaction fees and quick confirmation for transactions, compared to other AMMs. Another unique property is that PacakeSwap does not allow front-running, a kind of displacement attack that permits a miner to place a trade that will earn him a profit due to prior knowledge of its existence. Aside from these, PancakeSwap comes with many secondary features, including NFT collectibles, lottery games, prediction markets, syrup pools, yield farms, and initial farm offerings (IFOs).

How to buy PancakeSwap

PancakeSwap is a thriving DeFi token, and many people are out to buy its governance token, CAKE. To do this, you will need to create an account with popular crypto exchanges like Binance, Kucoin, Gate.io, the PancakeSwap platform, and several other Bitcoin exchanges.

Who created PancakeSwap?

PancakeSwap does not have a recognised set of individuals behind the project, as it was launched in September 2020 by a group of anonymous developers. Despite this, PancakeSwap has been a remarkable success largely due to its deployment on the Binance Smart Chain (BSC.) The twin advantages of faster confirmation time and cheaper transactions have made many users pivot to the protocol to take advantage of the booming DeFi space.
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