PancakeSwap
A decentralized exchange built on multiple blockchains, independent and community-driven.
PancakeSwap is a decentralized exchange (DEX) built on multiple blockchains. It is an independent project not administered by Binance. As of 2024, it is one of the major DEX on BNB Smart Chain and has more than $2.3B in total value locked.
Quick Facts
- Platform type
- Decentralized Exchange (DEX); Automated Market Maker
- Primary blockchain
- BNB Smart Chain
- Native token
- CAKE
- Governance model
- Community-driven DAO
Lore & Background
PancakeSwap was founded in 2020 by anonymous developers. Its domain was registered in Shanghai, China. PancakeSwap is an independent project created by anonymous developers, not a Binance creation.
Reader's Guide
PancakeSwap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software. It uses an automated market maker (AMM) model for trading BEP-20 tokens. The native token of protocol is CAKE which is used for governance and to incentivize liquidity provision. CAKE token holders can participate in governance by voting on proposals that influence the platform's development.
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