PancakeSwap CAKE

1. Summary

Ranks

Liquidity

99

Developer

97

Social

100

Momentum (beta)

68

Stack Rank™

96

Price

$2.79 -3.4%

Market Cap

$712.08M (#113)

Supply

246.61M / 384.45M

Tags

Binance Smart Chain Ecosystem Exchange-based Tokens Decentralized Exchange Token (DEX) Automated Market Maker (AMM) Yield Farming DeFi Governance Ethereum Ecosystem BNB Chain Ecosystem Decentralized Exchange (DEX) Aptos Ecosystem

More Metrics

Price
52W High price	$5.12
52W High date	14th Mar 2024 (1 month ago)
All Time High (ATH) Date	30th Apr 2021 (2 years ago)
ATH Price	$43.96
% From ATH	-90.89%
All Time Low (ATL) Date	3rd Nov 2020 (3 years ago)
ATL Price	$0.19
% From ATL	1958.96%

Supply & Trading Volume
Trading Volume (24h)	$71.83M
Total Supply	384.45M
Max Supply	450.00M
Circulating Supply	246.61M

Less Metrics

Description

PancakeSwap is what is known as an automated market maker (AMM) which is essentially this decentralized finance (DeFi) application that allows users to exchange tokens while providing liquidity through farming and earning fees in return.

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PancakeSwap is what is known as an automated market maker (AMM) which is essentially this decentralized finance (DeFi) application that allows users to exchange tokens while providing liquidity through farming and earning fees in return.

When we discuss the history of PancakeSwap, it originally launched in September of 2020 and is a decentralized exchange that specializes in swapping BEP20 tokens on the Binance Smart Chain. However, PancakeSwap also allows you to trade cryptocurrencies and tokens without a centralized intermediary, which means that you keep custody of your tokens at all times. It is built on automated smart contracts that are deployed on the Binance Smart Chain, which is the blockchain platform that is run by the crypto exchange Binance. Now, even though Binance operates a centralized exchange, it does not have control or any operation over PancakeSwap.

Furthermore, it uses an automated market maker model where the traders can trade against a liquidity pool, where each pool is filled by users that end up depositing their funds into it to receive liquidity provider (LP) tokens in return.

These tokens can over time be used for them to reclaim their share of the pool. These LP tokens are known as FLIP, and PancakeSwap allows users to farm additional tokens known as CAKE and SYRUP in the theme of the entire AMM. Users can deposit LP tokens and get rewarded with CAKE.

Now, if you want to trade BEP20 tokens here, provide liquidity to the exchange, and as a result, earn fees and stake LP tokens to earn CAKE, you can do so. Furthermore, you can stake CAKE to earn tokens for other projects.

The CAKE Token Explained

The PancakeSawp token CAKE is a BEP20 token.

This token was originally launched on the Binance Smart chain and serves the function of incentivizing the liquidity provision on the platform.

As a user, you can stake your token in order to earn rewards. This is done by depositing LP tokens as well as locking them in the pool. This process of farming is rewarded by the system with CAKE tokens, and the tokens can, later on, be withdrawn with zero holding time. CAKE also gives you the opportunity to invest and increase returns in the future as well.

Features of PancakeSwap

PancakeSwap is unique in the sense that it uses an automated market maker model. This in turn allows it to use liquidity pools instead of order books. As a user, you have the ability to actually earn income through becoming a liquidity provider, by adding your tokens to the liquidity pool, where you will farm LP tokens, and you can then stake your CAKE to earn rewards.

This means that PancakeSwap essentially cuts out the middleman found on centralized exchanges and lets users get the rewards instead.

Founders of PancakeSwap (CAKE)

Discussing the founders of PancakeSwap, unfortunately, we do not really know who they are as it is a Binance Smart Chain-based decentralized exchange (DEX) as well as an automated market maker (AMM) that was developed by anonymous developers.

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