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Information about PancakeSwap (CAKE)
PancakeSwap is essentially a decentralized exchange (DEX) that allows users to exchange BEP20 tokens (the latest token standard from Binance Smart Chain), stake tokens to receive rewards, and participate in voting that governs decisions on the system based on the amount of tokens they hold.
Currently, PancakeSwap is one of the most prominent decentralized exchanges on the Binance Smart Chain (BSC) network. According to data from CoinmarketCap on Yield Farming platforms, PancakeSwap is at the top in terms of total value locked on the platform (Total Value Locked). In addition, according to statistics from the website DappRadar, PancakeSwap is currently one of the leading applications in terms of volume and number of users on the BSC network.
CAKE is the internal token of the DEX PancakeSwap exchange. This is a token developed using the BEP20 standard of Binance Smart Chain to operate.
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