CAKE icon PancakeSwap price (CAKE)

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What is PancakeSwap?

PancakeSwap (CAKE) is one of the biggest Decentralized Exchanges on the Binance Smart Chain. PancakeSwap can be seen as a direct competitor to Uniswap. With a total value locked within the billions, PancakeSwap is one of the most used decentralized exchanges in the crypto world. Within a decentralized exchange users are able to swap their coins for other coins without the input of a middleman. All transactions are done peer-2-peer and decisions about the platform are user generated.

Pancake focuses on BEP20-tokens. BEP20 is a specific token standard that has been developed by Binance (one of the biggest crypto exchanges in the world).

Pancakeswap works like many other decentralized exchanges, they often use automated market makers (AMM). This means that no order books or third-parties are needed in order to complete a transaction. Instead of this, the system requires user generated liquidity pools. Users will deposit funds into a specific liquidity pool (In return for a reward), and the moment somebody wants to trade CAKE coin for BNB, the filled liquidity pools will be used in order to make the transaction. This entire system is based on smart contracts.

PancakeSwap can also be used by Liquidity providers. As you can imagine some liquidity pools need a lot of liquidity. So, in order to fill up liquidity pools, users will be rewarded for their deposit.

Since 202

PancakeSwap launched their platform in 2020

Decentralized

PancakeSwap is a decentralized exchange on the Binance Smart Chain

Peer-2-peer

All transactions on the decentralized exchange are being completed without the need of a third party

When is a good time to get in?

PancakeSwap statistics from the last 24 hours

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Why buy PancakeSwap via Anycoin Direct?

With more than 14,000 reviews on TrustPilot (average 4.5 stars) and an official registration with De Nederlandsche Bank (DNB), Anycoin Direct has been one of the most trusted crypto services in Europe since 2013.

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The history of PancakeSwap

The price of PancakeSwaps own token (CAKE) has skyrocketed in January of 2021. During the bull run many investors resorted to new ways of receiving rent.

This is one of the reasons that DeFi protocols like PancakeSwap and Uniswap have gained massive traction during that period of time. With an initial price of around €0.40 cents coins price went sideways for the first few months. However, in the beginning of 2021 the price below €1 to a staggering €35 per coin.

De PancakeSwap Lottery

PancakeSwap organizes daily Lotteries that can incentivize users to play and put their luck to the test. Users are able to cash in their CAKE tokens in order to participate in the lottery. Lottery prizes usually contain a big portion of the entire lottery pool. Some have even won around 50% of the entire prizepool in one sweep. The pancake lotterly can be seen as a little addition to those who like to gamble and test their luck.

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