PancakeSwap
PancakeSwap is a decentralized finance protocol that is used to exchange cryptocurrencies.[1] It was launched on 20 September, 2020[2] and enables users to execute automated transactions between BEP-20 cryptocurrency tokens on the Binance blockchain through the use of smart contracts, known as the Binance Smart Chain. Trading volume on PancakeSwap had grown to over $20 million a day by June 2021,[3] and it had over 1.7 million users.[4] Its governance token is the CAKE token.[5] The platform allows members to farm and add liquidity pools to earn CAKE tokens, as well as a regular lottery that awards users with CAKE and NFT art work. On 8 April, 2021 PancakeSwap lottery gave away 131,507.51 CAKE, which was equivalent to $2.75 million at the time.[6] In 2021, PancakeSwap experienced a growth in users, due in part to the exponentially higher gas fees for transactions on Uniswap based on the Ethereum blockchain.[7]
References[edit]
- ↑ "A Guide to PancakeSwap". Binance Academy. Retrieved 2021-06-04.
- ↑ Hamilton, David (2021-03-07). "Investing In PancakeSwap (CAKE) – Everything You Need to Know". Securities.io. Retrieved 2021-06-04.
- ↑ "Defi Economy Is Recovering Faster Than Most Crypto Assets After Market Rout – Finance Bitcoin News". Bitcoin News. 2021-06-03. Retrieved 2021-06-04.
- ↑ Kane, Ian (13 May 2021). "PancakeSwap Hits 1.7 Million Active Users". DappRadar. Unknown parameter
|url-status=ignored (help) - ↑ Willing, Nicole. "CAKE coin price prediction: a safe play on the DeFi trend?". capital.com. Retrieved 2021-06-04. Unknown parameter
|url-status=ignored (help) - ↑ InvestorPlace, Contributor Vivian Medithi. "PancakeSwap (CAKE) Price Predictions: Where Will CAKE Go in 2021?". www.nasdaq.com. Retrieved 2021-06-04.
- ↑ Titus (2021-05-04). "PancakeSwap or Uniswap". Medium. Retrieved 2021-06-04.
External Links[edit]
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