Shaurya Malwa · 4 hours ago · 2 min read
Market Cap $4,652,832,751
24H Volume $248,154,202
Circulating Supply 234,588,012 CAKE
Total Supply 234,588,012 CAKE
All-Time High $44.1414
% from ATH -58%
ATH Date Apr 30, 2021
PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
The LP tokens are called FLIP tokens. PancakeSwap also allows users to farm additional tokens – CAKE and SYRUP. On the farm, users can deposit LP tokens, locking them up in a process that rewards users with CAKE. Users can stake CAKE tokens to receive SYRUP, which will have further functionality as governance tokens (and as tickets in a lotteries).