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About Pancakeswap
PancakeSwap is the largest decentralized exchange on BNB Chain and has expanded to become a leading multi-chain DEX supporting Ethereum, Arbitrum, Base, and more. Launched in September 2020, PancakeSwap quickly became the go-to platform for BNB Chain users seeking to swap tokens, provide liquidity, and earn yields.
The platform offers a comprehensive DeFi experience including token swaps via its AMM, yield farming through Farms and Syrup Pools, Initial Farm Offerings (IFOs) for new token launches, a prediction market, NFT marketplace, and perpetual trading. The CAKE token serves as the governance and utility token, with staking options providing various benefits.
PancakeSwap has consistently innovated, adding features like position managers for automated liquidity, cross-chain swaps, and concentrated liquidity pools (v3). With billions in trading volume and millions of users, it remains the dominant DEX for BNB Chain and an important player in the broader multi-chain DeFi ecosystem.
Key Features
Multi-Chain DEX
Trade across BNB Chain, Ethereum, Arbitrum, Base, zkSync, and more chains
Yield Farming
Earn CAKE rewards by staking LP tokens in Farms or single assets in Syrup Pools
IFOs
Participate in Initial Farm Offerings to get early access to new token launches
V3 Concentrated Liquidity
Provide liquidity within specific price ranges for higher capital efficiency
Perpetual Trading
Trade perpetual futures with leverage on major crypto pairs
Gaming & NFTs
Participate in prediction markets, lottery, and NFT marketplace
Use Cases
Token Swaps
Trade BEP-20 tokens and cross-chain assets with low fees on BNB Chain
Yield Generation
Stake LP tokens or CAKE to earn passive income through farming rewards
New Token Access
Participate in IFOs to buy new tokens at launch prices
Liquidity Provision
Provide liquidity to earn trading fees and CAKE incentives
Cross-Chain Trading
Swap assets across multiple chains without leaving the platform
Project Info
Frequently Asked Questions
PancakeSwap is a decentralized exchange using an AMM (Automated Market Maker) model. Instead of order books, trades execute against liquidity pools funded by users. You can swap tokens instantly, provide liquidity to earn fees, and stake LP tokens or CAKE to earn additional rewards.
CAKE is PancakeSwap's governance and utility token. You can stake CAKE in Syrup Pools to earn other tokens, lock CAKE for veCAKE to boost farming rewards and vote on governance, participate in IFOs, and use it as a trading pair across the platform.
To farm: 1) Add liquidity to a trading pair to get LP tokens, 2) Go to Farms and find your pair, 3) Stake your LP tokens, 4) Earn CAKE rewards over time, 5) Harvest rewards or compound them. Note that farming has impermanent loss risk.
PancakeSwap is one of the most established DEXs with extensive security audits and a strong track record. However, DeFi always carries risks including smart contract vulnerabilities, impermanent loss, and token risks. Only invest what you can afford to lose and research tokens before trading.
PancakeSwap has expanded beyond BNB Chain to support Ethereum, Arbitrum, Base, zkSync Era, Polygon zkEVM, Linea, opBNB, and Aptos. You can swap native assets on each chain and use cross-chain features to bridge between them.