Pancakeswap - More Than a Food Themed Defi Protocol

Aug 5, 2021

PancakeSwap is a decentralized exchange built on Binance Smart Chain which is considered as the fast and inexpensive alernative for Ethereum. 

Pancakeswap lets users to swap between crypto assets by just tapping into user-generated liquidity pools unlike Uniswap Defi AMM Protocol 

It offers enomorous Defi Farming opportunities exclusively for liquidity providers. The total value locked is nearly 1 billion USD in pancakeswap. 

Like other platforms, Pancakeswap also reward users who stake its native token CAKE, If you stake CAKE, you will get SYRUO token in 1:1 ratio.  Holding SYRUP entitles you to 25% of the CAKE emissions distributed proportionally to holders. 

PancakeSwap — Uniswap clone built on BSC to deliver fast and inexpensive trades using BEP-20 tokens and the BSC←→ETH bridge, farming LP tokens on PancakeSwap is pretty simple. Find a pair of assets you already hold or are willing to supply, fire up your Metamask wallet, deposit, and farm. 

Additionally, PancakeSwap is less expensive and faster to use than both Uniswap and Sushi. The reason is PancakeSwap is built on Binance Smart Chain, a high-throughput blockchain built by Binance to compete with Ethereum. 

BSC achieves its scaling prowess in part by being less decentralized than Ethereum, but that doesnt seem to deter users from taking advantage of its barely-there transaction fees. Trading on PancakeSwap is undeniably better for smaller wallets who cant quite call themselves crypto whales and dont have unlimited funds to drop on gas fees. 

Now, Pancakeswap sets a standard for defi protocols,It also inspires many youngsters to get into crypto industry, Many budding cryptopreneurs wants to kick start their own platform like pancakeswap by making use of Pancakeswap Clone Script , one can kick start their own exchange like pancakeswap instantly and easily

Articles authored by  Alice Jenifferze

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