Everything you need to know about the BNB Chain decentralized exchange
PancakeSwap is a decentralized finance dapp running on BNB Chain. It offers DeFi users a wide variety of functionality and crypto tools like swapping, liquidity farming, and staking. The PancakeSwap ecosystem is powered by the platform’s native token, CAKE.
PancakeSwap is the most visited decentralized exchange on BNB Chain. According to DappRadar data, the dapp attracts thousands of users daily, allowing them to quickly swap between tokens on the blockchain.
Importantly, there isn’t an order book. Instead, users trade against a liquidity pool. Those pools are filled with other users’ funds. In simple terms, users deposit them into the pool, receiving liquidity provider tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees. In short, you can trade BEP-20 tokens or add liquidity and earn…