Since the launch of Ethereum in 2015, several Decentralised Finance applications seeking to disrupt the traditional financial system have continuously emerged. For example, one of such decentralized finance applications is Decentralised exchanges (popularly known as DEXs). These exchanges provide a secure gateway for more sophisticated traders sceptical of the centralized and custodial exchange. Notably, one of the fast-emerging industry leaders in the DEXes ecosystem is PancakeSwap. In this article, you will get to know, what is PancakeSwap. Learn more about CAKE token exchange along with the ways how to buy CAKE coin with crypto!

What Is PancakeSwap?

PancakeSwap is a decentralized exchange that runs on the Binance Smart Chain protocol. Although closely associated with the popular centralized exchange, Binance, PancakeSwap protocol is decentralized. Its objective is to become the leading decentralized Automated Market Making application. Thus PancakeSwap utilizes liquidity pools to provide liquidity while rewarding users and providers for contributing assets.

With its lightning-fast transaction speed and the low costs of the Binance Smart Chain, the project has attracted sophisticated traders. Today, PancakeSwap has one of the highest volumes in the decentralized market. To be precise, it covers over 51 million trades and serves more than 3 million traders monthly.

Since its launch in 2020, PancakeSwap and its associated CAKE coin have grown tremendously. That is why they now compete with other major decentralized exchanges, such as Uniswap and SushiSwap.

Key Features of PancakeSwap

PancakeSwap’s fast rise came due to the variety of efficient services and features that its users get access to. These features are critical to the appeal of PancakeSwap exchange and PancakeSwap coin among experienced and more sophisticated traders who are at the forefront of DEFI.

Low FeesM

Firstly, PancakeSwap offers the lowest transaction rates on the market to crypto traders. Because the protocol runs on BNB Smart Chain, its transaction fees are much lower than other decentralized exchanges running on Ethereum blockchain or other protocols.

Exchange & Staking

Secondly, PancakeSwap is an Automated Market Maker (AMM). Thus, its liquidity pool swaps are its most popular services. Aside from token swaps, PancakeSwap allows more sophisticated exchange services like Yield Farming, Syrup Pools, Lottery V2, Initial Farm Offerings, and Prediction. On one hand, Yield Farming allows its users that provide liquidity to earn CAKE rewards by locking their LP tokens into a smart contract. On the other hand, Initial Farm Offerings are events that let users buy into a limited-time offer to purchase new tokens at lower prices.

NFT Market and Profile System

Recently, PancakeSwap launched its NFT division as a result of the increasing demand for NFT products among DEFI enthusiasts. This move paid off, judging from its $3million opening day trading volume. Some of its services include a dedicated NFT Market and an NFT Profiles service that supports personalized profiles for its users. Thus, using PancakeSwap’s NFT services, users can choose a name, join a team, and choose a profile display picture from their collection.

Voting with CAKE coin

Lastly, this is another one of the features of the PancakeSwap ecosystem. Voting allows members and token holders to determine the direction and development of the community, as well as its future projects.

CAKE Coin

The CAKE coin is the token that powers the CAKE exchange. It is at the centre of the PancakeSwap ecosystem and functions as a reward token, incentivizing all of the services offered on the platform.

CAKE Coin tokenomics

CAKE coin has a market capitalization of $1.8Billion and a total supply of over 272 million tokens. The distribution formula is as follows: 75% towards farmers and the other 25% to token holders in the SYRUP pools.

As a result of its inflationary nature, with over 1,152,000 CAKE emissions per day, PancakeSwap offers many deflationary mechanics. For example, there is a 787,600 weekly burn rate. That is why PancakeSwap allows enthusiasts to confirm the number of circulating CAKE supply as well as the total amounts of CAKE tokens that are burnt periodically and removed permanently from its blockchain.

PancakeSwap Products: Trade, Earn, Win

PancakeSwap offers users various ways of earning CAKE tokens. It ranges from earnings gained in farming and staking pools to more sophisticated trading services like trading competition, prediction, and lottery. However, to access these services users need to have a MetaMask wallet connected to the BSC protocol.

PancakeSwap Roadmap

Since launching in 2020, the PancakeSwap platform and CAKE token have become the top innovators and liquidity providers in the DEFI market. Although PancakeSwap developers do not commit to publicly available timelines, they organize their development priorities based on market changes and developer resources. Furthermore, they provide a regularly updated and comprehensive list of their finished, ongoing, and upcoming tasks on this dedicated webpage.

CAKE Exchange: How To Buy CAKE Coin With Crypto?

Are you interested in buying CAKE tokens? Or do you want to know how to buy CAKE coin? JansWap offers the best CAKE exchange rates on the market. Thanks to active collaborations with some of our trading partners, we make sure that you get the best exchange rate offers, without any hidden fees.

Here is an easy-to-follow tutorial on how to buy the CAKE coin with BNB on JansWap:

• Head to the JansWap website.
• Select the proper pair (BNB to CAKE).
• Input the amount of BNB you want to exchange for CAKE, and the aggregator will find the best deals for you.
• Click on the ‘Exchange’ button that leads you to an exchange platform. Type in the address where you want to send the CAKE coins.
• Use the generated BTC address to send your BNB deposit.
• Head to ‘Proceed with the Exchange’. If you want – leave a review of the service you chose to carry out your exchange process.
• Wait for the deposit to be processed and the CAKE exchange completed.