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PancakeSwap (CAKE) Market
Price today: $ 2.44
Launched in September 2020 through a fork of Uniswap code, PancakeSwap was built on the Binance Smart Chain, an alternative to the Ethereum network. Read more
What is PancakeSwap (CAKE)?
Launched in September 2020 through a fork of Uniswap code, PancakeSwap was developed based on the Binance Smart Chain, an alternative to the Ethereum network.
Responsible for creating an automated market (AMM) in the world of digital assets, the project works as a decentralized exchange for swaping (exchange) BEP-20 tokens.
In other words, users can exchange their tokens on PancakeSwap for a fee. Those who provide liquidity to the platform, on the other hand, earn fees in exchange 一 which are even the same paid by those who exchange tokens over there.
Market info
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Ranking
77
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Market cap
$ 712,483,134
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Circulating Supply
BTC 145,000,683
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Volume last 24 hours
$ 60,745,171
PancakeSwap
USDT 2.44
-5.52%
Updated at
FAQ: Frequent Asked Questions about PancakeSwap
How does pancakeswap work?
PancakeSwap works through the AMM model, that is, as much as you can trade digital assets within the platform, there is no orderbook on it. In fact, instead of that, what exists is a liquidity pool. But, to have access to all the functionalities that the project provides, you must first activate the resources available on the project's website: pancakeswap.finance. Finally, you can unlock your wallet and start using the features.
Is PancakeSwap safe?
Audited by CertiK, PancakeSwap can be stored in wallets that support Binance Smart Chain, including MetaMask, TokenPocket, SafePal and TrustWallet. Despite having a good reputation, the project is not 100% safe, as investing in smart contracts can always present some risk related to possible bugs. So never deposit more funds than you can afford to lose.
Who are the founders of PancakeSwap?
To this day, no one knows who the founders of PancakeSwap are, as they remain anonymous. However, one thing is certain: the apparent passion for pancakes and rabbits.
What is Defi (Decentralized Finance)?
Decentralized Finance, or DeFi, is a system by which financial products are made available on a decentralized public blockchain network. This makes them open for use by anyone, rather than going through intermediaries such as banks or brokerages.
