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PancakeSwap
Decentralized cryptocurrency exchange From Wikipedia, the free encyclopedia
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PancakeSwap is a decentralized exchange (DEX) built on multiple blockchains.[1] As of 2024, it is one of the major DEX on Binance Smart Chain and has more than $2.3B in total value locked.[2]
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Protocol
PancakeSwap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software. It uses an automated market maker (AMM) model for trading BEP-20 tokens.[2][3]
The native token of protocol is CAKE which is used for governance and to incentivize liquidity provision.[2] CAKE token holders can participate in governance by voting on proposals that influence the platform's development.[2][4]
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