PancakeSwap is a decentralized exchange (DEX) platform built on the Binance Smart Chain.
It operates as an automated market maker (AMM) platform, meaning that it facilitates trades between users through a mathematical formula instead of relying on a traditional order book.
This allows for faster and cheaper transactions than a centralized exchange. PancakeSwap also has a unique feature called “yield farming,” which allows users to earn rewards by providing liquidity to the platform. The platform’s token, CAKE, is used as a reward for liquidity providers and also serves as a governance token, giving users a voice in the decision-making process.
PancakeSwap has quickly become one of the most popular DEXs in the DeFi ecosystem, offering users a simple and efficient way to trade and earn rewards through liquidity provision.
