PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) app that allows users to exchange tokens while also providing liquidity through farming and earning fees.
It is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain that launched in September 2020. PancakeSwap employs an automated market maker model in which users trade against a pool of liquidity. These pools are populated by users who deposit funds into the pool in exchange for liquidity provider (LP) tokens.
These tokens can then be used to reclaim their pool share as well as a portion of the trading fees. These LP tokens are referred to as FLIP. Users can also farm additional tokens such as CAKE and SYRUP on PancakeSwap. Users can deposit LP tokens on the farm and receive CAKE as a reward.
PancakeSwap users can trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE, and stake CAKE to earn tokens from other projects.
PancakeSwap (CAKE) price equal to $41.09 USD at 2021-03-05 here’s a price prediction on PancakeSwap (CAKE)
Furthermore, By the end of 2021 we believe the price of PancakeSwap (CAKE) will be around $132.22 - $304.73 USD.