PancakeSwap
{{morerefs|date=February 2025}}
{{Short description|Decentralized cryptocurrency exchange}}
{{Infobox software
| name = PancakeSwap
| screenshot = Pancakeswap-screenshot.PNG
| logo =
| caption = PancakeSwap's web application interface
| developer =
| repo = {{URL|https://github.com/pancakeswap}}
| programming language = Solidity
| platform = Binance Smart Chain
Ethereum
| genre = Decentralized exchange
| license = GNU General Public License v3.0
| website = {{URL|https://pancakeswap.finance/}}
}}
PancakeSwap is a decentralized exchange (DEX) built on multiple blockchains.{{Cite web|url=https://www.ft.com/content/df9f5795-2aaf-4088-a76e-304056db61ef |title=The FT crypto glossary
|first=Philip |last=Stafford |date=October 21, 2021|website=Financial Times}} As of 2024, it is one of the major DEX on Binance Smart Chain and has more than $2.3B in total value locked.
Protocol
PancakeSwap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software. It uses an automated market maker (AMM) model for trading BEP-20 tokens.{{Cite web|url=https://www.ft.com/content/c982082b-c890-4880-b438-f8b3cae83a4b |title=Billionaires Peter Thiel and Alan Howard back new $10bn crypto exchange |first1=Philip |last1=Stafford |first2=Eva |last2=Szalay |date=11 May 2021 |website=Financial Times}}
The native token of protocol is CAKE which is used for governance and to incentivize liquidity provision. CAKE token holders can participate in governance by voting on proposals that influence the platform's development.{{Cite book |title=Blockchain, Crypto and DeFi: Bridging Finance and Technology |last=Di Maggio |first=Marco |publisher=Wiley |year=2024 |isbn=9781394275908 |pages=375–376 |url=https://books.google.com/books?id=Uq8kEQAAQBAJ|quote=As the leading decentralized exchange (DEX) on BSC, PancakeSwap has carved a niche for itself, offering an attractive alternative to Ethereum-based protocols. Launched in September 2020, PancakeSwap quickly ascended to prominence, capitalizing on the growing demand for DeFi services amid Ethereum network congestion and high gas fees ... At the core of PancakeSwap's ecosystem is the CAKE token, which plays a pivotal role in both incentivizing liquidity provision and empowering users with governance rights. CAKE rewards are distributed to users who provide liquidity to the platform’s various trading pairs, fostering a robust and diverse liquidity pool that underpins the exchange's functionality. Beyond its utility in liquidity mining, the CAKE token allows holders to participate in PancakeSwap's governance, voting on proposals that shape the platform’s development and future direction.}}{{Cite journal|url=https://peerj.com/articles/cs-1587/|title=Multi-objective test selection of smart contract and blockchain applications|first1=Bader|last1=Alkhazi|first2=Amin|last2=Alipour|date=October 17, 2023|journal=PeerJ Computer Science|volume=9|pages=e1587|via=peerj.com|doi=10.7717/peerj-cs.1587|doi-access=free |pmid=37869450 |pmc=10588722}}
See also
References
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External links
- {{Official website|https://pancakeswap.finance}}
{{Cryptocurrency exchanges}}
Category:Decentralized cryptocurrency exchanges
Category:Decentralized autonomous organizations
{{Crypto-stub}}