Source: CAKEUSD Chart by TradingView
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).
Binance app to integrate PancakeSwap, Binance DeFi Wallet
Binance is about to integrate the popular decentralized exchange PancakeSwap into its app. At the same time the exchange is announcing the non-custodial Binance DeFi Wallet enabling users to switch between Binance and DeFi.
Is PancakeSwap about to make a comeback? Partnership teased with reveal coming soon
PancakeSwap is down almost 90% from its ATH adding to investor frustration. Can this new feature/partnership turn things around?
DEXs like Uniswap, PancakeSwap, and Curve saw a 550% growth last year
The numbers of decentralized exchanges has risen despite the falling numbers of crypto exchanges around the world.
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