PancakeSwap has so far burned more than 78 percent of the total CAKE supply to date, thus significantly increasing the value of the existing coins.
About PancakeSwap
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.
It seems, that through Polkadot protocol, the emergence of new markets is imminent and the decentralization of future economies is looking more possible than ever before.
With the guide, you will get a clear understanding of the Polygon (MATIC) network that has ambitions of alleviating the problems of the Ethereum network whilst also promoting true and routine blockchain interoperability.
Today's live PancakeSwap price is $1.84 USD, with a 24-hour trading volume of $58 564 355 USD. We provide real-time updates for the CAKE to USD price. Ethereum has decreased by 2% in the last 24 hours. Currently ranked 139 in the cryptocurrency market, PancakeSwap has a live market cap of $503 182 647 USD, with a circulating supply of
273 878 027CAKE coins and 450000000.00 maximum supply.
