Review on PancakeSwap by erdi yılmaz
Pancakeswap
PancakeSwap was developed to encourage liquidity supply.
Everything that can be done in Uniswap and even more can be done on the PancakeSwap platform on the Binance Smart Chain network, not on the Ethereum network.
NFTs are also available on PancakeSwap. In addition, the project IFOs, ie the first farming supplies, are made ongoing. Thus, it is possible to easily invest in new projects.
PancakeSwap is the 3rd highest volume decentralized exchange. It is one of the eyes of the DeFi industry.
It has also managed to get Binance support behind it. Binance Academy has an extensive and detailed guide to using PancakeSwap. PancakeSwap is the largest platform on Binance Smart Chain with its number of users and transaction volume.
Pros
- Investors can earn rewards with various tokens by staking CAKE to the pool on PancakeSwap according to DeFi protocols and interest rates. Staking starts at any time, exit can be made at any time.
- CAKE can also be obtained by providing liquidity in certain cryptocurrency pairs at PancakeSwap.
- Another feature of liquidity pools is the ability to join pools with USD-indexed stablecoins.
- It is possible to participate in the continuous lottery draw for 1 CAKE. When entering the lottery, 4 numbers are given randomly. These numbers range from 1 to 14. When the lottery is drawn, those who hit 4, 3 and 2, provided that the places of these four numbers are the same, have the chance to win the prize CAKE. Especially for hits 4 and 3, the rewards are very high CAKE.
Cons
- Attacks on PancakeSwap and all other decentralized exchanges to previously unknown, unexplored vulnerabilities can put investors in a difficult situation.
