PancakeSwap

PancakeSwap
Repositorygithub.com/pancakeswap
Written inSolidity
PlatformBinance Smart Chain
Ethereum
TypeDecentralized exchange
LicenseGNU General Public License v3.0
Websitepancakeswap.finance

PancakeSwap is a decentralized exchange (DEX) built on multiple blockchains.[1][2] As of 2024, it is one of the major DEX on Binance Smart Chain and has more than $2.3B in total value locked.[3][4]

History

PancakeSwap was founded in September 2020.[5][4]

In March 2021, PancakeSwap among others was subjected to a hacker attack.[6]

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.[4][7]

The native token of protocol is CAKE which is used for governance and to incentivize liquidity provision.[4] CAKE token holders can participate in governance by voting on proposals that influence the platform's development.[4]

See also

References

  1. ^ Stafford, Philip (October 21, 2021). "The FT crypto glossary". Financial Times.
  2. ^ Khaitan, Tarang (6 March 2023). "PancakeSwap To Release V3 Iteration In Early April - "The Defiant"". thedefiant.io. Retrieved 15 August 2024.
  3. ^ "PancakeSwap sets eyes on v4 launch". forkast.news. 16 March 2024. Retrieved 15 August 2024.
  4. ^ a b c d e Di Maggio, Marco (2024). Blockchain, Crypto and DeFi: Bridging Finance and Technology. Wiley. pp. 375–376. ISBN 9781394275908. As the leading decentralized exchange (DEX) on BSC, PancakeSwap has carved a niche for itself, offering an attractive alternative to Ethereum-based protocols. Launched in September 2020, PancakeSwap quickly ascended to prominence, capitalizing on the growing demand for DeFi services amid Ethereum network congestion and high gas fees ... At the core of PancakeSwap's ecosystem is the CAKE token, which plays a pivotal role in both incentivizing liquidity provision and empowering users with governance rights. CAKE rewards are distributed to users who provide liquidity to the platform's various trading pairs, fostering a robust and diverse liquidity pool that underpins the exchange's functionality. Beyond its utility in liquidity mining, the CAKE token allows holders to participate in PancakeSwap's governance, voting on proposals that shape the platform's development and future direction.
  5. ^ "PancakeSwap Launches on Base". bsc.news. Retrieved 15 August 2024.
  6. ^ Fernau, Owen (16 March 2021). "Pancakeswap, Cream Finance, Suffer DNS Attacks - "The Defiant"". thedefiant.io. Retrieved 15 August 2024.
  7. ^ Stafford, Philip; Szalay, Eva (11 May 2021). "Billionaires Peter Thiel and Alan Howard back new $10bn crypto exchange". Financial Times.
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