CAKE Token PancakeSwap is an automated market maker (AMM) – a decentralized finance (DeFi) application that allows users to exchange tokens, provide liquidity through farming and earn fees in return.
Launched in September 2020, it is a decentralized exchange for swapping BEP20 tokens on the Binance Smart Chain.
PancakeSwap uses an automated market maker model where users trade against a liquidity pool.
These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.
These tokens can later be used to reclaim their stake in the pool, as well as a portion of the trading fees.
These LP tokens are known as FLIP. PancakeSwap also allows users to create additional tokens such as CAKE and SYRUP.$CAKE
In the farm, users can deposit LP tokens and earn rewards using CAKE.
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