PancakeSwap is one of the decentralized platforms based on Binance's blockchain, the Binance Smart Chain (BSC). The number of accounts on it is growing. The platform allows for cryptocurrency trading; the client can be a liquidity provider (LP).
When operating on PancakeSwap, digital assets are traded. Thanks to the liquidity pool, there is a forged connection between the seller and the users. LPs support the ability to exchange assets and cryptocurrencies on the exchange, to transfer funds. By placing their assets on the platform, they earn additional income.
CAKE is a PancakeSwap exchange token that controls internal processes.
From our article, you can learn about all aspects of working with the MEEG platform.
Customer development of new projects;
Payments with low fees;
Various methods of crypto-income (both active and passive) and payment for purchases;
The convenience of buying, selling, and transferring assets;
Availability of tokens not available on other exchanges.
Buying, selling, and exchanging tokens. It takes place through the base currency PancakeSwap BNB, which can be bought on PancakeSwap or on Binance. To trade, users go to the Trade section. More than 500 currency options are available for clients;
Liquidity. Once the wallet is activated, access is given to a selection of farms where CAKE tokens can be earned. Each pool is described in detail. After selecting coins for farming, confirm them in the cryptocurrency wallet. Add tokens and coins to the original farm and earn CAKE;
Stacking. Support for new projects. Core and Community are two pools of services (called Syrup Pools in Pancake Swamp). The first was created by PancakeSwap, and the second appeared after voting. Approved pools are listed on the exchange. The interest in steaking on the exchange is high, and the network members make a large profit;
Lottery. A ticket costs 10 CAKE and contains a combination of 6 characters. If it matches the drawn one, the user earns 40% of the prize money. An incomplete match also earns interest (2 to 20%);
Users invest in a project that appears. The themes of the projects can be different. The IFO section shows if a coin sale is open;
NFT tokens. Binance Smart Chain (BSC) database collections are sold here;
Voting. Only CAKE token holders can vote;
Team competitions. The winner is determined by the volume of trades and receives various prizes for their wallet. The participation fee is 1.5 CAKE.
The project PancakeSwap token - CAKE - is used for payment of transaction fees, farming prizes, and other purposes. The standard of CAKE is BEP-20.
Participate in voting
Farming and receiving rewards
Buy lottery tickets
Passively earn (stacking)
Mandatory connection of your cryptocurrency wallet to the network (it is not necessary to register and create a personal account) using WalletConnect;
Account activation takes place under Connect Wallet;
Confirmation of authorization after selecting the desired wallet.