The Epic Begineers Guide About Pancakeswap

Published by

Alice Jenifferze activities: Digital Marketer

Jun 18, 2021

Nowadays Food Themed Defi Protocols are on the way to the market yet the most popular one is Pancakeswap.

 

PancakeSwap is one of the famous DeFi based Protocol which aims to provide Automated Market Making (AMM) by being a #1 liquidity provider. This open-source DeFi based exchange is built on the Binance Smart Chain (BSC) through which the platform users can swap BEP-20 tokens.

CAKE is the native token of PancakeSwap and the users can swap, add liquidity, farm, yield, stake, and win CAKE Tokens through lottery.

Native Token of Pancakeswap is Cake token and its run behind Binance Smart Chain, Automated Market Maker is the Exchange module

 

Automated Market Maker

 

An Automated Market Maker is a decentralized exchange protocol that doesnt need an order book but relies on the mathematical formula to set the price for the assets. The price of the assets is fixed according to the pricing algorithms. This pricing formula can vary according to the DEX protocols.As PancakeSwap works on the AMM model, which means the users can trade their digital assets on the platform at any time even if their order book isnt matched with anyone else

As Pancakeswap turns out as the people’s favorite, Many business people are willing to kick start their own Defi based exchange like Pancakeswap. By making use of Pancakeswap Clone Script, one can start a defi based exchange with the similar features as in the pancakeswap.

 


Articles authored by Alice Jenifferze

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