Topics

The Beginner’s Guide to PancakeSwap

Built on the Binance Smart Chain, PancakeSwap is turning out to be one of the most popular yield farms in the DeFi market. Here’s everything you need to know about PancakeSwap.

Launched in September 2020, by anonymous developers who seem to really love breakfast foods, Pancakewap is fast becoming a game-changer in the crypto world.

So what exactly is PancakeSwap?

PancakeSwap is one of the largest DeFi protocols in the crypto industry today. It is a decentralized exchange built on the Binance Smart Chain.

It is great news that PancakeSwap is faster and cheaper than Uniswap, one of its most popular competitors. Not only that, PancakeSwap has brought a different level of gamification experience to its users with high incentives. This has turned PancakeSwap into one of the top-rated exchanges with high trading volumes.

If you are new to the Crypto world or DeFi space, check the FAQs at the end of this blog when you come across unfamiliar terms. Some of the basics and foundations of the crypto space are explained there.

First, let‘s take a sneak peek into the topics uncovered in this reading:

Table of Contents

1. What is PancakeSwap?

2. How does PancakeSwap exchange work?

3. Advantages of PancakeSwap

4. Using the PancakeSwap

5. CAKE Tokens

6. Features or Products of PancakeSwap

6.1 Token Swapping

6.2 Liquidity Pools

6.3 Yield Farming

6.4 Staking in Syrup Pools

6.4.1 Manual Cake Syrup Pools

6.4.2 Auto Syrup Pools

6.5 Lottery

6.6 Prediction

6.7 IFO

6.8 NFT

6.8.1 Collectibles

6.8.2 Teams

7. FAQs

What is PancakeSwap?

There are four key points that define PancakeSwap:

PancakeSwap is a Decentralized Exchange. A decentralized exchange (DEX) is a type of cryptocurrency exchange that runs on a blockchain.   

  1. PancakeSwap runs on the Binance Smart Chain (BSC) blockchain. Binance Smart Chain is a fourth-generation blockchain that is capable of faster and cheaper transactions as compared to its competitor Ethereum blockchain.
  2. The PancakeSwap follows the Automated Market Making (AMM) model. AMM is a protocol that follows a mathematical formula to price the assets being traded. It does not use an order book, instead uses a pricing algorithm that decides the price of the assets.
  • Users can swap BEP-20 tokens on PancakeSwap. BEP-20 tokens are the native tokens of the Binance Smart Chain.

Since its launch, PancakeSwap has received tremendous responses from its users. With PancakeSwap, Binance has now become one of the most prominent competitors of the Ethereum blockchain.

Undoubtedly, PancakeSwap is one of the largest decentralized exchanges in trading volume currently. It’s no wonder if PancakeSwap outshines the parent exchange Binance itself, if more trading volumes build up! 

How does PancakeSwap exchange work?

I have already mentioned that PancakeSwaptrade works on the AMM model and not on the order book method. In the order book method, there should be a potential buyer and seller whose values match for a trade to happen. But in the AMM model, the algorithm does the work without the need of an order book.

The complete work is done by some predefined algorithms in the AMM model. Here the trade happens on the logic and conditions set by the pricing algorithms. When some predefined conditions are met, the trades happen. Therefore we can say that markets are made automatically in AMM and hence the name. 

In PancakeSwap, the trades actually happen in liquidity pools. The transactions in the liquidity pools are controlled by the pricing algorithms and therefore we can say that PancakeSwap follows the AMM model.

So, what are liquidity pools? 

The liquidity pools contain funds from users. When the users deposit funds into the liquidity pool, they receive Liquidity Provider (LP) tokens in return. These tokens help the users to reclaim their share in the liquidity pool whenever they withdraw their invested funds, plus a portion of the trading fees. 

Through PancakeSwap, you can trade BEP-20 tokens, add liquidity to liquidity pools and even earn rewards for your transactions. Cool! In the following sections, we are going to see some more interesting features of PancakeSwap in detail.

Before that, let us see some of the main advantages of PancakeSwap over its competitors.

Advantages of PancakeSwap

The PancakeSwap is very innovative in its approach and committed to security. The charm of PancakeSwap is that it is fast and inexpensive compared to its contemporary, Uniswap of Ethereum. Let us see how this is possible.

It is an undeniable fact that the Ethereum blockchain is the initiator of the so-called DeFi revolution. But the network currently suffers from scalability issues. As you may know, in the Ethereum network a user needs to pay a processing fee called GAS for each and every transaction on the platform.

As Ethereum became busier than ever, it takes more time to complete one transaction on the network. Therefore a user has to spend more GAS to complete his transaction on the Ethereum Network. An average cost for one transaction in Ethereum is about $20 now, and it would take about 5 minutes to complete one transaction.

Binance Smart Chain overcomes the major concerns such as transaction delays and higher fees of Ethereum blockchain. Since PancakeSwap is built on the Binance Smart Chain, it can enjoy the same benefits.

The main advantages of the PancakeSwap can be summarised as follows:

  • Fast & Cost-effective - As already mentioned, the PancakeSwap built on Binance Smart Chain reaps all the benefits offered by the platform. PancakeSwap is scalable since it is less decentralized. PancakeSwap is fast and it collects very small transaction fees.
  • Low initial investment - Trading on Pancake is undeniably better for smaller wallets that do not have enormous funds to deposit. It is also good that users will not lose much on Gas fees while trading through PancakeSwap.
  • Interconnectivity - The developers of PancakeSwap were smart to realize that their potential users have to come from the Ethereum blockchain. Therefore they streamlined the whole process considerably. The platform can integrate some popular wallets such as Trust Wallet, TokenPocket, WalletConnect, MathWallet, and MetaMask.

One point to note here is that MetaMask wallet can support both BEP-20 tokens alongside ERC-20 tokens (native tokens of the Ethereum blockchain). Using the Deposit feature, the PancakeSwap users can transfer digital coins such as USDT, BTC, BUSD, and ETH from the ETH chain to the BSC chain with ease.

  • Wide Selection - PancakeSwap users get access to a variety of new tokens on the platform. With PancakeSwap, you can gain access to all the top projects in the market. The exchange also offers an excellent selection of BEP-20 exclusive tokens and other rare, hard-to-find projects.
  • Gamified user experience - PancakeSwap takes fun altogether to a new level with gamified user experience through lottery, NFTs, and team battles. We will discuss these features in detail later in this blog.
  • High ROI (Returns On Investment) - The platform offers several features which give high returns to users on their investments. The PancakeSwap also guarantees 100% trading volume on its platform that is very advantageous to the traders.
  • Audited and Secured - PancakeSwap has undergone an extensive audit from the cyber-security firm CertiK. Security Oracle, CertiK Shield, DeepSEA, The CertiK Virtual Machine are the other protections PancakeSwap owns due to the integration with CertiK. Fancy names of protection, right? You just need to keep in mind that PancakeSwap has multiple levels of protection.

By now, you might have understood how and why the PancakeSwap is gaining momentum in the DeFi space. Now let us delve a little deeper into the working mechanism of the PancakeSwap.

Using the PancakeSwap

Before starting with the PancakeSwap, there should be at least one cryptocurrency in your wallet. You may buy BTC offered by Bitcoin, ETH from Ethereum, USDT provided by Tether, or BNB from Binance, as per your choice. For simplicity, let us use fix upon BNB from the Binance platform in this blog.

1. If you are a first-time user, you need to create a free account and register in the Binance platform. (Click here if you would like to try one on the go).

 

 

2. After finishing the KYC process of the platform, you have to select a payment method. You can provide your credit/debit card details or use the bank transfer method. After selecting the payment method, you may buy any cryptocurrency of your choice.

3. Visit https://PancakeSwap.finance. To access all the features, you need to unlock your wallet. There are many wallet options to choose from, for example, MetaMask, Trust Wallet, WalletConnect, Binance Chain Wallet, and others on the platform.


It is better to use MetaMask even though it is an Ethereum wallet. MetaMask wallets can interact with BSC-based dApps pretty well. Now you have to bridge MetaMask to your Binance account.

Here is an easy guide that helps you to connect your MetaMask wallet with the Binance Smart Chain. After the integration, you can see your MetaMask wallet in the top right corner of PancakeSwap.

4. Add some crypto into your MetaMask wallet. You may withdraw crypto assets in your Binance account and fill them in your MetaMask wallet using the BSC transfer network.

So, let us assume that we have created an account and registered in the Binance Smart Chain, bought BNB, accessed PancakeSwap, connected MetaMask wallet to the Binance smart chain, and added BNB to your wallet. Now you are ready to rock the world of PancakeSwap!

Before getting into the details of the various cool money-making features of PancakeSwap, it is essential to know a bit about the CAKE Tokens, the backbone of the PancakeSwap ecosystem!

CAKE Tokens

The delicious token that empowers the PancakeSwap ecosystem is CAKE. You can earn CAKE, win CAKE and buy CAKE on the PancakeSwap platform.

What are the different ways to use CAKE tokens in the PancakeSwap platform?

  • You can stake CAKE tokens in Yield Farms to earn more CAKE
  • You can buy Lottery tickets with CAKE tokens and win exciting rewards in the PancakeSwap Lottery
  • You can create your exclusive Pancake Profile and mint cute Non Fungible Tokens (NFTs) at the expense of some CAKE
  • You get the voting power to vote on proposals relating to the PancakeSwap ecosystem if you possess enough CAKE tokens

There is a lot more on the plate for CAKE! We would see them in the following sections.

Now, let us finally see the various cool money-making features of the Pancake Swap.

Features or Products of PancakeSwap

PancakeSwap allows you to make use of your crypto in three fundamental ways:

Trade, Earn, and Win.

You can Trade in the PancakeSwap platform by swapping tokens.

You can Earn in the PancakeSwap through pools, farms, and fees.

You can win in the PancakeSwap through NFTs, Team battles, and Lottery.

Isn’t it cool? The PancakeSwap introduced several fresh and attractive money-making methods like the ones listed above. Shall we see each of them one by one?

1. Token Swapping

​Token swapping is one of the simplest ways to earn a variety of other tokens on PancakeSwap. You can trade BEP-20 tokens for another token through automated liquidity pools instantly.

Token swapping is actually a form of trade that happens in the PancakeSwap platform. A trader who participates in the token swapping needs to pay a very small fee of about 0.2% for each transaction on the exchange. How is the breakdown of fees? Check it below:

0.17% - of the fees is paid back to the liquidity pool itself.

0.03% - of the fees is sent to the PancakeSwap Treasury.

Through Token Swapping you can get hold of any tokens listed on the exchange, if they are available in the liquidity pool.

2. Liquidity Pools

Liquidity Pools are one of the main features of the PancakeSwap platform. You can either create your own liquidity pools or may invest in the existing liquidity pools. The main attraction is that you can earn trading fees by providing funds (liquidity) to the liquidity pools.

Is it that simple? Yes, it is.

  • Invest your tokens in the liquidity pools and become a Liquidity Provider.
  • You will receive Liquidity Pool (LP) tokens called FLIP tokens when you invest your tokens.

Consider the following example:

Imagine that you deposit your CAKE and BNB into a liquidity pool, then you would receive CAKE-BNB LP tokens in return.

The number of LP tokens you receive represents your share of the CAKE-BNB liquidity pool. You may withdraw your liquidity, redeem your fund any time as you wish, and exit from being a liquidity provider.

So you have provided tokens to a liquidity pool and you get LP tokens in return. With LP tokens you can reclaim your share in the pool any time later. Is that all? No.

You may stake LP tokens in Farms and can earn rewards, which is called Yield Farming. We are discussing it later.

You can also earn trading fees from the pool as long as their tokens remain invested in the liquidity pool. That sounds interesting, doesn’t it?

Let us try to understand the underlying mechanism here a little more. We have already seen that whenever a trade happens on the PancakeSwap exchange, the trader has to pay a 0.2% trading fee in which 0.17% goes back to the liquidity pool of the traded swap pair.

Consider the below example:

  • Imagine that you have invested 10 CAKE and 10 BNB tokens to a liquidity pool and you have received 10 LP tokens in return. That means, 1 LP token represents one pair of 1 CAKE-1 BNB tokens.
  • Let us consider that one trader trades 10 CAKE for 10 BNB.
  • Let some other trader trade 10 BNB for 10 CAKE.
  • After these two transactions, can you now guess the number of your CAKE/BNB tokens in the liquidity pool? Will there be any change to it?

Definitely. It has changed now. It would be 10.17 CAKE and 10.17 BNB. How? What has happened here? How did the number of tokens increase from 10 to 10.17 ? Remember the trading fee of 0.17% a trader pays to the pool for each transaction. That trading fee resulted in an increase in the net volume of CAKE and BNB tokens.

After these two trades, you can also see that the net worth of an LP token has increased from 1 CAKE - 1 BNB to 1.17 CAKE - 1.17 BNB.

Thus by being a liquidity provider, you can receive a portion of the rewards whenever a trade occurs that taps into your funded liquidity pool. To claim those rewards, you will have to redeem the LP tokens (FLIP tokens) that have grown in their value.

Providing liquidity involves an inherent risk too. The risk factor here is known as Impermanent Loss. Impermanent loss is the difference between investing tokens in a liquidity pool and holding them in your wallet. But somehow, as the name implies, this loss is impermanent.

3. Yield Farming

Yield farming means you deposit one set of tokens in Farms to mint another set of tokens. We have already seen how to earn FLIP tokens by providing liquidity to a pool. Now let us see how to stake LP tokens to yield CAKE tokens, the native tokens of the PancakeSwap exchange.

Have a look at the image below. It is a screenshot of the Farming page on the PancakeSwap platform to explain the initial Yield Farming steps. We could show you the initial four steps.

  1. Select the Farms option from the left panel.
  2. Click on the Live menu to observe the current happenings on the platform.
  3. A long list of LP tokens that PancakeSwap supports for farming is listed. Pick the farm that interests you most.
  4. Check the details of the selected farm to know how much CAKE that particular farm rewards you. Currently, the Annual Percentage Yield (APY) of most of the listed pairs is high.
  5. You will get a prompt from PancakeSwap to unlock your wallet. The PancakeSwap system detects the content (LP tokens) inside your wallet and allows you to deposit (stake) them on the farm.
  6. Once you have deposited, confirm the transaction.
  7. The page will automatically update with the CAKE you have earned. This page displays the CAKE you have earned whenever you return to the page later after navigating from the page.
  8. To harvest your yield that you have got in the form of CAKE tokens, click on the Harvest button on the page and confirm the transaction.

Now you have completed one Yield Farming transaction. You invested your LP tokens in a farm and received CAKE tokens in return.

4. Staking in Syrup Pools

Syrup Pools are the simplest way to earn free tokens on the PancakeSwap platform. Stake CAKE tokens, and earn CAKE tokens! It is that easy. Some pools also let you stake other tokens instead of CAKE tokens.

The two delicious flavors of Syrup pools are Auto CAKE and Manual CAKE. Both these pools are for staking CAKE to earn more CAKE. Then, is there a difference between the two? Yes, there are.

Manual CAKE Syrup Pools

  • You have to manually harvest and compound (reinvest) your CAKE in this pool. Select the page, tap the buttons, use a bit of BNB - you do everything manually.
  • Interest is displayed here as Annual Percentage Return (APR), which does not include compounding.
  • In Manual CAKE staking, the SYRUP Tokens are deposited in your wallet automatically. Syrup Token is an IOU (I Owe U note) that represents how much CAKE you have staked in the pool.

Auto CAKE Syrup Pools

  • Auto CAKE is a super cool feature. Stake your CAKE and forget about it! The CAKE you stake will get automatically reinvested on a small fee.
  •  Interest is displayed here as Annual Percentage Yield (APY), which includes compounding.
  • A small performance fee is also deducted from your earnings each time the pool is automatically reinvested (compounded).
  • On staking, the SYRUP token is not deposited into your wallet automatically.

5. Lottery

Who doesn’t want to be lucky in the Crypto trade? How is it if you get a chance to play the lottery on PancakeSwap? You heard it right! The PancakeSwap offers a cool feature called Lottery where you can use your CAKE tokens to win exciting rewards.

Each lottery session takes 12 hours. You get 1 hour to buy tickets. The fee for One lottery ticket is 1 CAKE. A ticket has four random number combinations ranging from 1 to 14. For example, a probable ticket number would be 12-4-11-3.

50% of the entire lottery pool is the jackpot prize. You can win the jackpot if the numbers on your ticket match the numbers selected by the system, that too in the exact order! Even if all numbers are not matching, there is still hope! There are chances for winning prizes if two or more numbers on your ticket match with the drawn numbers in the same order.

  • When each user buys a lottery ticket, the lottery jackpot amount gets accumulated and displayed on the top of the page.
  • The page will display the four winning lottery numbers and the results of winners with their matching ticket numbers. Winners can redeem their winnings if any.

  • If you win, it is celebration time!! Share the happy news with your friends and in community groups!

What will happen if there are no winners? In that case, 50% of the jackpot gets moved to the next lottery session. Try your luck in the next lottery!

6. Prediction

PacakeSwap is full of surprises and games. Another exciting proposal from PancakeSwap is the Prediction Market. PancakeSwap Prediction is fun and a decentralized market.

What are you supposed to do here? The action to perform is simple: Predict whether the BNB price will rise or fall after a Live phase. Guess with your knowledge, instincts, research, or whatever. If your guesses are correct, you will win!

How to take part in PancakeSwap Prediction?

  • There will be a Live period of five minutes.
  • Predict before the Live phase whether the price of BNBUSDT gets higher or lower at the end of the Live period compared to the initial pricing.
  • For example, If you enter a UP position and the BNBUSDT closes at a higher value at the end of the 5-minute Live phase, you win. On the reverse, you lose!

While writing this blog, Prediction markets got paused due to an error, and all open positions were canceled.

7. IFO (Initial Farm Offering)

Another impressive feature of PancakeSwap is IFO. Here you can buy brand new tokens using CAKE-BNB LP tokens.

The primary objective of any IFO is to raise funds for a new project. When you use CAKE-BNB tokens, the project gets the BNB, PancakeSwap burns the CAKE. By taking part in IFO, you would get brand new tokens that are not even listed on the platform with the power of yield farming.

Let us see the working of IFOs.

How is IFO working? 

  1. The basic stuff: You should possess an active PancakeSwap Profile to take part in an IFO! If you do not have one, activate your profile.
  2. Grab CAKE-BNB LP tokens. Where to get them? Stake CAKE and BNB in the liquidity pool to get LP tokens. You will have to spend these LP tokens to buy IFO sale tokens.
  3. Commit LP Tokens. For what? When the IFO sales go live, you have to Commit your LP tokens to buy the new tokens sold in the offerings.
  4. After the IFO sale is over, claim the IFO tokens that you bought. Any unspent CAKE-BNB LP tokens are returned safely to your wallet.

There are two types of sales: 1) Basic Sale and Unlimited Sale. Those who are new to IFO can first opt for Basic Sale and then Unlimited sales.

Every user can only commit a maximum of about 100 USD worth of CAKE-BNB LP Tokens in a Basic Sale. The Basic Sale does not collect participation fees from the users. In the Unlimited Sale, no limit is set for the amount of CAKE-BNB LP Tokens you can commit. But the users in the Unlimited sale have to pay a participation fee to avail of this service. The participation fee starts at 1%.

8. NFT

NFT stands for Non-Fungible Tokens. An NFT is a unit of data or a digital asset stored on a blockchain that is unique and non-interchangeable. NFTs can represent any type of digital file such as audio, video, photo, etc.

The PancakeSwap platform supports the trading and staking of these unique digital assets. Therefore PancakeSwap traders have access to a growing network of NFTs.

Collectibles

The PancakeSwap offers several collectibles to its users. 

You can earn some of the collectibles in the form of cute NFTs as rewards in the lottery. If you ever get NFT as a reward, you can trade it for the CAKE value it represents. If you are a collector, keep the cuties in your wallet as Collector’s items!

Team Battle

More gamification experience to PancakeSwap users! When PancakeSwap announces the dates of a team battle, you can be in a team, participate in a competition, compete with other teams, win CAKE, collectible NFTS, achievements, and much more! At the end of the competition, each eligible participant will be awarded a prize!

The better a team performs, the better would be the prizes! At the end of the competition, the team with the highest total combined volume from their top 500 members will be the winner.

Some points to keep in mind regarding team battles and profiles:

  1. You need to choose your starter NFT (a collectible) by spending 4 CAKE. If you do not have any other collectibles in your wallet, the starter NFT would be your profile picture.
  2. Set your profile picture. If you have more than one NFT collectible in your wallet, select one from the available choices and set it as your profile picture. Only approved Pancake collectibles are allowed to be used as a profile picture.
  3. Join a team. Currently, there is not much difference between the teams available. You may choose a team wisely since you cannot change a team later.
  4. Set your name and complete your profile creation. This profile will be public and is used to transfer funds later.

You can show off stats and collectibles using your unique profile. Having a completed profile itself will earn you points. You may complete achievements too. With enough points, you would get early access to Syrup Pools, exclusive collectibles, and an opportunity to be on the leaderboard of the top users.

FAQs

1. What is DeFi?

DeFi is the short form for Decentralized Finance. As the name implies, DeFi is a financial ecosystem that consists of digital assets, protocols, DApps, smart contracts, and peer-to-peer networks carried out on a blockchain.

The primary objective of DeFi is to provide an open, transparent, and permissionless financial system not governed by a central authority that is contrary to the traditional finance systems. In this system, the users have complete control and power over their digital assets.

2. What is Decentralized Exchange or DCX?

Decentralized exchanges (DEX) can be considered as a type of cryptocurrency exchange. In this exchange, customers can have secure online peer-to-peer cryptocurrency transactions for other assets without the involvement of an intermediate agent.

Exchanges generally accept payments in credit cards, wire transfers, and other forms when digital or cryptocurrency trade transactions happen on the platform.

3. What are dApps?

Decentralized Apps are known as dApps in the crypto world. These are computer applications run on a peer-to-peer network or a blockchain and not controlled by a single authority. The dApps run on an open, decentralized public blockchain where transactions get recorded permanently. Not even the creator can delete the recordings on a blockchain.

4. What are Smart Contracts?

Smart contracts are software programs that reside on a blockchain. They would automatically execute or run when the system meets some predetermined conditions.

Smart contracts help the developers to automate the execution of an agreement in a DeFi platform. The users of a DeFi platform can be sure of the outcome of a transaction without the involvement of an intermediary or time loss.

5. What are DeFi tokens?

DeFi tokens can reside only on a blockchain. They are a type of asset or utility that are in some cases pegged to US Dollars. For example, you can even receive a US Dollar loan using DeFi Tokens. DeFi tokens are also transparent and transferable like any other cryptocurrency. If cryptocurrency is an asset, then the DeFi token is a financial tool. 

DeFi tokens have the same seamless transferability and transparency as cryptocurrency. However, while cryptocurrency is a type of asset, DeFi tokens can be considered as financial tools. DeFi tokens have some finance logic embedded within them by their host platform.

For example, cDAI is a token provided by the Compound platform. This token denotes how much a user has loaned plus his accruing interest. Traditional finance concepts are becoming more trustless, decentralized, and automated with DeFi tokens.

6. What are BEP-20 tokens?

BEP-20 is a Binance Smart Chain token standard. This standard is a blueprint that defines who can spend a token on the Binance Smart Chain and how it can be spent. The BEP-20 standard also covers rules about the overall usage of the tokens. The main objective of the BEP-20 standard was to facilitate the developers to launch different kinds of tokens on the platform. 

The tokens can represent anything. It could be from shares within a business to dollars stored in a bank vault such as stablecoins. BEP-20 tokens are the native tokens of the Binance Smart Chain. 

Using BEP-20 tokens, you can create a native asset and even peg tokens from other blockchains to make them usable on the Binance Smart Chain. The primary functions of the tokens are transferring, returning a balance, viewing the token ownership, etc.

7. What is an AMM?

AMM stands for Automated Market Maker. An automated market maker is considered a type of decentralized exchange (DEX) protocol. This protocol depends on a mathematical formula to price assets in a liquidity pool.

AMM does not use an order book to track all the trades and other happenings in the space, but a pricing algorithm does the whole work. The algorithm even decides the price of assets. The formula an AMM uses can vary depending on each protocol.

8. What is a Liquidity Pool? Who are Liquidity Providers?

Liquidity means the ability of an asset to get converted to cash. As far as the decentralized crypto globe is concerned, the term liquidity refers to the ability to enter a crypto market. Liquidity pools are also called pools of tokens or pools of assets.

In the crypto space, we can consider a Liquidity Pool as a smart contract that can lock up the crypto tokens or crypto assets. This lock-up of assets facilitates crypto trading by providing greater liquidity. The crypto users who stake their tokens or put their digital assets in these liquidity pools to increase their income are called liquidity providers.


Before You Go

A decentralized exchange built on Binance Smart Chain, PancakeSwap has grown into one of the biggest DeFi protocols in its industry today. It is not only an inexpensive alternative to Ethereum, it is also much faster.

By tapping into user-generated liquidity pools, this innovative platform allows its users to swap their cryptocurrency assets Now it’s pretty clear why the PancakeSwap ecosystem has become so popular.

The DeFi trend might have started with Ethereum, but Binance and PancakeSwap are the ones that are turning heads now. With the inclusive nature of these networks, PancakeSwap will continue growing in the DeFi space for the time to come.

Don’t worry! Even for beginners, PancakeSwap’s interface is simple and easy to use. You can easily navigate through all basic trading functionalities even if you have no prior experience with cryptocurrency. Their fees are also pretty low. So what are you waiting for? Get started right away with PancakeSwap.

Disclaimer: This article is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

Sherwood P