Cryptocurrency Q&A
What currency does PancakeSwap use?
What currency does PancakeSwap use?
DongdaemunTrendsetting
Wed Jun 26 2024
|
7 answers
1495
I'm curious to know, what currency does PancakeSwap utilize for its transactions and swaps? As a decentralized exchange, I'm assuming it leverages some form of cryptocurrency, but I'm not entirely sure which one. Is it a popular coin like Bitcoin or Ethereum, or is it a more specialized token designed specifically for PancakeSwap? Clarifying this information would help me understand the mechanics and economics behind this popular DeFi platform. Could you elaborate on the choice of currency and why it was selected?
7 answers
DaeguDivaDanceQueen
Fri Jun 28 2024
Cryptocurrency trading platforms, such as PancakeSwap, facilitate the exchange of digital currencies.
Was this helpful?
160
62
CryptoMaven
Thu Jun 27 2024
In the case of the CAKE-BNB pair, the liquidity pool contains both CAKE and BNB tokens.
Was this helpful?
202
97
Raffaele
Thu Jun 27 2024
One of the pairs available for trading on PancakeSwap is its native CAKE token and BNB, the native token for the BNB Chain.
Was this helpful?
233
78
benjamin_brown_entrepreneur
Thu Jun 27 2024
When a trader wants to buy CAKE tokens with BNB, they can do so directly from the liquidity pool.
Was this helpful?
268
24
Giulia
Thu Jun 27 2024
This trading pair is made possible through the use of a liquidity pool on PancakeSwap.
Was this helpful?
143
34
Load 5 more related questions
