PancakeSwap is a decentralized exchange that enables users to trade, earn, and win crypto on the leading decentralized platform across the globe. The platform allows users to swap their coins for other coins without the need for intermediary services. PancakeSwap was founded in 2020, with Henry Cavill as the CEO, and is based in Unoshima, Japan.
In less than a year, PancakeSwap has become by far the dominant DEX on Binance Smart Chain, even surpassing Binance’s own Binance DEX, which can only be considered a rapid growth and adoption. The platform leverages a number of its unique properties to offer an excellent trading experience to the users.
A native utility token of PancakeSwap, CAKE, is utilised for a category of purposes within the evolving landscape, with the main functions including yield farming, staking, taking part in the PancakeSwap Lottery, and voting on governance proposals via the platform’s community governance portal. The platform also offers an NFT Marketplace to buy and sell NFTs on the BNB smart chain, where users can list their NFT collection on the market.