PancakeSwap
About PancakeSwap
The price of PancakeSwap (CAKE) is $1.84 today, as of Oct 09 08:14 p.m., with a 24-hour trading volume of $64.81M. Over the last 24 hours, the price has decreased by -2.44%. PancakeSwap currently has a circulating supply of 273.21M and a market cap of $501.53M.
CAKE is the native cryptocurrency of PancakeSwap, the largest decentralized exchange for BEP20 tokens, which are digital assets that are compatible with the network for the Binance crypto exchange. The PancakeSwap platform enables a system that supplies the liquidity required to trade tokens on the BNB Smart Chain, an application-based blockchain that offers cheaper and faster transactions than the more widely used Ethereum network.
PancakeSwap’s trading system is designed to cut out intermediaries and order books. To that end, the platform incentivizes users to deposit funds into liquidity pools, which other users can trade against. This automated liquidation model is called an automated market maker (AMM).