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Why a Pancakeswap like Decentralized Exchange can help you earn

• Posted by sam sam June 21, 2022 Filed in Business 10 views
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  Features of PancakeSwap:

  • Swapping: PancakeSwap is an Open Source DeFi protocol designed specially for swapping BEP-20 tokens. Anyone can use this platform and swap their own BEP-20 token on the exchange which is built on the Binance Smart Chain.

  • Farming: PancakeSwap allows you to farm its own native token called CAKE. The farming feature of PancakeSwap allows users to deposit their LP tokens and lock them up and earn CAKE tokens as rewards.

  • DEX: The decentralized system along with the use of Automated Market Maker which ensures that the decentralized trading platform’s order books are removed. A DEX platform like PancakeSwap isn’t just for swapping and trading bitcoin.

  • Liquidity Pool: Participants can put their cryptocurrency tokens into this liquidity pool in exchange for trade fees from cryptocurrency trading on the exchange.

  • Staking: Once you have got LP tokens, it’s time to stake those and earn CAKE tokens. When you have got a CAKE token, you can stake those in SYRUP pools. When you stake a CAKE token, you will be earning the rewards of CAKE tokens.

  • Profile making: The users can create and update their profiles to continue their tasks regarding cryptocurrency trading.

  • Lotteries: Using the cakes, user can enter into a lottery where the minimum requirement for the user is 1 CAKE.

  Why Start a DeFi Exchange Platform Like PancakeSwap?

  PancakeSwap, which is built on Binance Smart Chain, takes advantage of a variety of its unique qualities to give end-users with a good trading experience. For one thing, it has very low transaction fees and quick confirmation times, guaranteeing that trades are completed swiftly. It also doesn’t suffer from displacement assaults like front-running, making it safer to utilize on blockchains with slower block times than some other AMMs.

  In simple terms, this is a system where there is no custodian to monitor the cryptocurrency transactions between the individuals. There exist direct peer to peer transactions using the Blockchain Technology instead of a physical custodian as the medium between the buyer and the seller.

  PancakeSwap also has a wide range of supplementary features, many of which are useful to CAKE holders. Cryptocurrency traders can use this decentralized exchange platform to conduct cryptocurrency transactions with little traffic and hassles.