Glossary - ChicksX

PancakeSwap is a decentralized exchange on Binance Smart Chain for swapping BEP-20 tokens using automated market maker (AMM) technology.

PancakeSwap is a decentralized exchange (DEX) operating on the Binance Smart Chain (BSC). It allows users to swap BEP-20 tokens with minimal fees. Using automated market maker (AMM) technology, PancakeSwap facilitates liquidity provision without needing a traditional order book. Users can provide liquidity to earn trading fees and participate in yield farming to earn CAKE, the platform's native token. PancakeSwap also offers features like staking, lotteries, and NFT collectibles. Its user-friendly interface and lower transaction costs compared to Ethereum-based DEXs make it popular for cryptocurrency traders seeking efficient and cost-effective trading solutions.