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Glossary
PancakeSwap (CAKE)

PancakeSwap (CAKE)

Intermediate

    PancakeSwap is the largest decentralized exchange on the BNB Chain, formerly Binance Smart Chain. The leading decentralized finance (DeFi) platform enjoys a TVL of over $1.3 billion as of September 2023 and supports nearly 1 million users.

     

    Users can trade any token available on the BNB Chain using PancakeSwap and even swap tokens in a decentralized, peer-to-peer manner without relying on intermediaries. In addition to trading and token swapping, PancakeSwap is one of the most attractive platforms crypto investors use to earn passive income.

     

    The platform offers high APYs for users who wish to stake their BNB Chain tokens through yield farming. Users earn rewards in the form of CAKE, the native LP token of the PancakeSwap platform.

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