Knowledge Notes | Centralized and Decentralized Exchanges
① Decentralized exchanges (DEXs) use smart contracts to execute trades. You sign with your own wallet, and your assets stay in your wallet before the trade.
② PancakeSwap is one of the main DEXs on BNB Smart Chain, and $CAKE is its native token.
③ Before swapping on a DEX, verify the token contract address, check the slippage settings and approval amount, and don't judge by the token name alone.
$BNB 749.74 (+0.85%)
NFA, DYOR.
① Decentralized exchanges (DEXs) use smart contracts to execute trades. You sign with your own wallet, and your assets stay in your wallet before the trade.
② PancakeSwap is one of the main DEXs on BNB Smart Chain, and $CAKE is its native token.
③ Before swapping on a DEX, verify the token contract address, check the slippage settings and approval amount, and don't judge by the token name alone.
$BNB 749.74 (+0.85%)
NFA, DYOR.