PancakeSwap
a.k.a. CAKE
A decentralized exchange that started on BNB Chain, letting people swap tokens using liquidity pools.
In plain English
A decentralized exchange that started on BNB Chain, letting people swap tokens using liquidity pools.
PancakeSwap is a decentralized exchange launched in 2020 on BNB Chain, the blockchain tied to Binance. It works like Uniswap, using an automated market maker and liquidity pools, but with lower fees than Ethereum offered at the time. It has since spread to other chains.
Its own token, CAKE, rewards people who provide liquidity or stake. Like any DEX, it lists tokens without anyone vetting them, so scam tokens sit right next to legitimate ones.
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