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What is PancakeSwap all about
Pancakeswap is a decentralized exchange built on Binance Smart Chain. Being on Binance Smart Chain, the transaction and swap fee on Pancakeswap are cheaper compared to its competitor Uniswap which is built on Ethereum. PancakeSwap only supports BEP-20 tokens.
PancakeSwap is also an automated market maker (AMM) similar to Uniswap where users can swap between cryptocurrencies by entering liquidity pools, also generated by users. PancakeSwap. With this, PancakeSwap offers a plethora of opportunities to liquidity providers and yield farmers. It already has more than $1 billion locked in total value (TVL) on its platform.
CAKE is the native token of PancakeSwap’s ecosystem. All the rewards and fee paid on their ecosystem is paid in CAKE. When users stake their CAKE tokens on PancakeSwap, they get SYRUP tokens in return.
Only thing users need to do to take full advantage of PancakeSwap’s ecosystem is to connect their Metamask wallets. PancakeSwap also has lotteries to implant more gamification in the platform where users deposit CAKE tokens into lottery and wait for the winners to be announced.
PancakeSwap also allows users to earn NFTs as rewards. Users can trade these NFTs for their value in CAKE tokens. The team is also planning to launch Initial Farm Offerings (IFOs) which will open doors to everyone to launch their tokens using yield farming.
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CAKE Questions & Answers
When did PancakeSwap reach its peak?
The price of PancakeSwap peaked on 2021-04-30, at 36.36 Euro.
What is PancakeSwap's current price?
Current price of PancakeSwap is at 4.24 EUR.
How much will PancakeSwap cost in one month time?
Using our prediction algorithm, we suspect that PancakeSwap's price is likely going to reach between €0 and €6.48 in one month.
What will the price of PancakeSwap be 3 months from now?
Based on our prediction we estimate that PancakeSwap's cost will be anywhere between €0 and €6.48 in 3 months time.
Is PancakeSwap going to be worth more in 6 months?
Long term forecast is very difficult, however in accordance with our short term prediction we suspect the price of PancakeSwap is likely going to reach between €0 and €6.48 in half a year.
Is PancakeSwap popular on social media?
0 users participated in an online discussion on Reddit about PancakeSwap in the last 48 hours. PancakeSwap's Twitter profile is followed by 1608213 users.
10 days PancakeSwap price forecast
Long term PancakeSwap price prediction