What is Pancake Swap (CAKE)?
PancakeSwap is the largest and most-used DEX for the Binance blockchain (BSC). Like the other DEXs on our list, PancakeSwap provides liquidity through automated market markets. In addition to BSC, PancakeSwap is compatible with Aptos and Ethereum. PancakeSwap offers its users slightly lower fees than Uniswap.
‘CAKE’ is the token native to PancakeSwap. In addition to being a governance token, CAKE is used as an incentive for liquidity providers to become market makers on the Pancake Swap DEX.
See Also
Blockchain Market to Expand at 80.8% CAGR through 2031 | SkyQuest TechnologyThe Changing Face of Risk in DeFiWhat Is DeFi? Understanding Decentralised FinanceHow do DeFi Protocols Make Money? - Zerocap📚Read: Top DEXs for 2023
4. Balancer
Protocol: Balancer (V1 & V2)
Token symbol: BAL
Market cap: $200 million
Total value locked (TVL): $1.05 billion
Chains: Ethereum, Arbitrum, Polygon, Optimism, Gnosis
