PancakeSwap is DEX and AMM powered by Binance Smart Chain that allows users to swap BEP-20 tokens and earn cryptocurrencies through CAKE staking and providing liquidity. The platform is comparable to Uniswap .It also provides a decentralized trading experience which is combined with liquidity pools. PancakeSwap is the largest DApp on the Binance Smart Chain and is considered as a project with boundless potential. That is why the platform is very popular and is currently DApp number #1 on the Binance Smart Chain according to indicators such as volume and number of users.
BEP-20
BEP-20 is Binance Smart Chain token standard that extends ERC-20 standard and is also fully compatible with it. The code of the functions that define the BEP-20 standard is the modification of the ERC-20 standard. These modifications were made in order to improve the protocol to optimize its speed and also to reduce the transaction fees. BEP-20 token transfers are fueled by BNB as well as tokens those work under the standard of BEP-2 on Binance Chain. This stimulates validators to include the transactions in the blockchain, as they’ll collect BNB as a fee for their troubles.
PancakeSwap Advantages
- Possibility of earning Tokens
- Low Fees and Fast Transactions
- No KYC Requirement
- Audited and Secured
The Pancake Token
CAKE is a BSC-native BEP-20 token. The CAKE token has performed extremely well in 2021, showing an incredible price rally. The primary function of CAKE is to incentivize liquidity provision to the PancakeSwap platform. At the time of writing this article, the Pancake token (CAKE) has a market cap of $3,110,013,483.50, selling at $18 per Pancake token. Also, CAKE has no maximum supply, which means that it is a deflationary token, and tokens are burned regularly in order to reduce the supply.
How to buy CAKE ?
PancakeSwap (CAKE) token is currently traded on TBCC Exchange.
- You can buy CAKE tokens directly on https://www.tbcc.com and send them to a cryptocurrency wallet that is supported by PancakeSwap in order to stake your CAKE tokens on PancakeSwap.
- You can also connect your wallet to PancakeSwap and buy CAKE tokens with your BEP20 tokens such as BNB, BUSD and BTC on the TBCC Exchange.
- If you don’t have a TBCC Exchange account yet, click this link and look at our tutorial on how to Deposit to TBCC Exchange.
