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.
Aave (AAVE) and PancakeSwap (CAKE) are existing altcoins that have contributed to DeFi growth significantly, but Big Eyes Coin (BIG), the new cryptocurrency, could even make a bigger impact on DeFi development. You should consider the three altcoins for your portfolio.
Two of the most popular cryptocurrencies Shiba Inu (SHIB) and, PancakeSwap (CAKE), are competing with the new crypto project Snowfall Protocol (SNW) as investor favorites, so we look at all three.
This article will focus on the Metacryp project. It will give an overview of the project, its features, and how to buy its native token during the presale.
