PancakeSwap

Last updated
PancakeSwap
Repository github.com/pancakeswap
Written in Solidity
Platform Binance Smart Chain
Ethereum
Type Decentralized exchange
License GNU General Public License v3.0
Website pancakeswap.finance

PancakeSwap is a decentralized exchange (DEX) built on multiple blockchains. [1] As of 2024, it is one of the major DEX on Binance Smart Chain and has more than $2.3B in total value locked. [2]

Contents

Protocol

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. [2] [3]

The native token of protocol is CAKE which is used for governance and to incentivize liquidity provision. [2] CAKE token holders can participate in governance by voting on proposals that influence the platform's development. [2] [4]

See also

References

  1. ↑ Stafford, Philip (October 21, 2021). "The FT crypto glossary". Financial Times .
  2. 1 2 3 4 Di Maggio, Marco (2024). Blockchain, Crypto and DeFi: Bridging Finance and Technology. Wiley. pp. 375–376. ISBN   9781394275908. As the leading decentralized exchange (DEX) on BSC, PancakeSwap has carved a niche for itself, offering an attractive alternative to Ethereum-based protocols. Launched in September 2020, PancakeSwap quickly ascended to prominence, capitalizing on the growing demand for DeFi services amid Ethereum network congestion and high gas fees ... At the core of PancakeSwap's ecosystem is the CAKE token, which plays a pivotal role in both incentivizing liquidity provision and empowering users with governance rights. CAKE rewards are distributed to users who provide liquidity to the platform's various trading pairs, fostering a robust and diverse liquidity pool that underpins the exchange's functionality. Beyond its utility in liquidity mining, the CAKE token allows holders to participate in PancakeSwap's governance, voting on proposals that shape the platform's development and future direction.
  3. ↑ Stafford, Philip; Szalay, Eva (11 May 2021). "Billionaires Peter Thiel and Alan Howard back new $10bn crypto exchange". Financial Times .
  4. ↑ Alkhazi, Bader; Alipour, Amin (October 17, 2023). "Multi-objective test selection of smart contract and blockchain applications". PeerJ Computer Science. 9: e1587. doi:10.7717/peerj-cs.1587 – via peerj.com.{{cite journal}}: CS1 maint: unflagged free DOI (link)
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