How does pancakeswap work?

PancakeSwap uses an automated market maker (AMM) model. Trades are safely and automatically done using the protocol’s liquidity pools, which are created through smart contracts. Instead of dealing with an order list and looking for someone to swap your tokens with, PancakeSwap users lock their tokens in a liquidity pool using smart contracts.

What is pancakeswap's native token?

PancakeSwap’s native token is called CAKE, and it mainly functions as a governance token, but it can also be used for staking and other DeFi specific actions. PancakeSwap’s main features (which are displayed in their top menu) are: To use all these features on PancakeSwap, you’ll first need to connect your wallet to the application.

What is pancakeswap (bep-20)?

PancakeSwap is a decentralized exchange on the Binance Smart Chain (BSC) and facilitates the swapping of BEP-20 tokens. Although it is the largest of these DEXs on Binance Smart Chain, there are DEXs that have significantly higher average trading volumes on Ethereum, such as Uniswap. BEP-20 represents the type of Binance Smart Chain native tokens.

How much money does pancakeswap have?

Trusted with billions. PancakeSwap has the most users of any decentralized platform, ever. And those users are now entrusting the platform with over $ 3.6 billion in funds. Will you join them? Trade anything.