PancakeSwap (CAKE)

PancakeSwap (CAKE) is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC) that allows users to swap various cryptocurrencies without the need for a centralized authority. It utilizes an automated market maker (AMM) model, where users provide Liquidity to trading pairs and earn rewards in the form of CAKE tokens. PancakeSwap also offers additional features such as Yield Farming, Staking, and lottery games.

Examples and Cases:

• Token Swaps: Users can trade BNB for CAKE directly on the platform.
• Liquidity Pools: Users can provide Liquidity by depositing pairs like BNB/CAKE and earn transaction fees.
• Yield Farming: Users can stake their CAKE tokens to earn additional rewards in different tokens.
• Lottery: Participants can enter lotteries using CAKE tokens for a chance to win larger sums of CAKE.