- Category: Binance Smart Chain Ecosystem
- Coin Launched: September, 2020
- Resources: White Paper
- Official Website: PancakeSwap
- Reddit: PancakeSwap
PANCAKESWAP History / Information / Buying / Staking
History PancakeSwap was founded by a group of anonymous developers in September 2020. What made it different at the time of launch was that PancakeSwap was built on Binance Smart Chain (BSC), which offers faster and cheaper transactions compared to Ethereum. At the time of PancakeSwap's launch, Ethereum was suffering from expensive and slow transactions as DeFi's mainstream moment in 2020 drove massive demand for transactions. Almost all DeFi applications lived on Ethereum at the time.
HOW PANCAKESWAP WORKS
PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain. On PancakeSwap, you can swap between cryptocurrency assets, farm its governance token (called CAKE), and even earn rewards. PancakeSwap is governed by the community and can be a lot less expensive than other DEXs as it’s built on Binance, an inexpensive alternative to Ethereum.
BENEFITS OF USING PANCAKESWAP
PancakeSwap has significantly lower fees than Ethereum and other exchanges.
By adding liquidity to the exchange, users are generously rewarded, users can win a variety of non-fungible tokens (NTFs), PancakeSwap also offers entry into a variety of lotteries, with the reward 50% of the lottery pool, and yields range from between 23.52% up to a maximum of 378%, which is higher than other exchanges
BINANCE SMART CHAIN
PancakeSwap supports the exchange of several BEP20 tokens
CAN YOU STAKE PANCAKESWAP
PancakeSwap offers its own token when users contribute to the liquidity pool. Its native token CAKE, can also be staked easily on the platform.
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