What is Pancake Swap ? | All about Pancake Swap in Short | Crypto Currency Pancake Swap
What is Pancake Swap ? | All about Pancake Swap in Short | Crypto Currency Pancake Swap
What is PancakeSwap?
PancakeSwap is an automated market maker. It is a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. PancakeSwap uses an automated market maker model where users trade against a liquidity pool.
When was PancakeSwap invented ?
PancakeSwap is a Binance Smart Chain-based decentralized exchange (DEX) that was launched by anonymous developers with an apparent passion for pancakes. It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain.
Importance of PancakeSwap?
PancakeSwap uses an automated market maker model, meaning that there are no order books and liquidity pools are used instead. A user can earn income by becoming a liquidity provide; by adding their tokens to the liquidity pool they can farm LP tokens and stake their CAKE to earn rewards. They can also try their luck with the lotteries and non-fungible tokens.
Future of PancakeSwap ?
According to Digital Coin Price’s predictions, the token is on it’s way to reach $100 by 2023. In the past three months alone, the token has rallied 460 percent. If that momentum continues, it could reach $100 in 2021.
Pankcake Swap Logo
