$2.79
1H
0.03%$0.0008
24H
0.10%$0.0028
7D
-14.2%$0.4617
30D
-33.1%$1.38
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.
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.
PancakeSwap’s Kitchen launches proposal for the redirection of 500 CAKE emissions towards veCAKE bribe rewards.
The PancakeSwap (CAKE) DEX is the top DeFi protocol on the BSC network with nearly $2 billion in TVL and millions of users.
This solution will provide unprecedented flexibility, with expiration durations ranging from as short as one hour to as long as 24 hours.
Affiliates from various blockchains and layer-2 networks can host PancakeSwap versions where the exchange isn’t officially available. In exchange, they’ll receive incentives and technical assistance from PancakeSwap.
The correlation between WIF’s rally and Solana’s positive movement suggests a potential symbiotic relationship, where the success of one influences the other.