Towering above the rest across BNB Chain, PancakeSwap has a versatile suite of products that can help all kinds of users enjoy the benefits of Web3.
PancakeSwap is the most utilized Decentralized Exchange (DEX) built on BNB Chain and one of the most prominent in all of Decentralized Finance (DeFi) on any chain. The Chefs at PancakeSwap have cooked up some notable products and services that make it one of the most versatile projects around.
Having fully made the switch to go multichain, the PancakeSwap Chefs have a dazzling repertoire of products and services to plan to deploy on Aptos, potentially Ethereum, and more. With V3 tokenomics announced for Q1 of 2023, the Chefs will have plenty to work with in the PancakeSwap kitchen for the foreseeable future.
Ten Products Available on PancakeSwap:
1. CAKE – PancakeSwap’s native token. CAKE is used for governance, staking, and yield farming. It’s one of the most held tokens across BNB Chain.
2. Syrup Pools – The version of automated market maker (AMM) pools cooked up by the PancakeSwap Chefs. Users can deposit and trade various tokens from BNB Chain.
3. Staking – A key use case for CAKE, PancakeSwap allows users to stake their native CAKE tokens to earn rewards and participate in governance decisions.
4. FLIP Tokens – A new type of token that represents a pool of other tokens, which can be traded and used for yield farming on PancakeSwap.
5. Yield Farming – The classic form of DeFi passive income where users reap rewards for providing liquidity to the Syrup Pools.
6. NFT Marketplace – PancakeSwap has an NFT marketplace where users can buy, sell, and trade unique digital assets. The collections from PancakeSwap, Bunnies and Squadies––both designed by artist Cecy Meade––are some of the most popular NFTs by volume and transactions on BNB Chain.
7. Token Listing – PancakeSwap lets projects list their tokens on its DEX and access its massive community of users.
8. IFO: Initial Farm Offerings – Allows users to buy new tokens launching on BNB Chain and participate in opportunities to earn yield. IFOs can take the form of Public or Private sales giving projects different forms of customization.
9. Bug Bounty – PancakeSwap has an ongoing bug bounty to help root out vulnerabilities and problems in its protocol. Together with ImmuneFi, PancakeSwap offers up to $1 million for critical bugs.
10. Lottery – CAKE holders can buy lottery tickets for a chance to win big! Winners of the lottery receive a pre-determined amount of CAKE as a reward.
What is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools (LPs), swapping, yield farming, Syrup Pools, an Automated Market Maker, Initial Farm Offerings (IFOs), an NFT profile system, and other tools.
In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on BNB Chain.
Where to find PancakeSwap:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.