Review on PancakeSwap by LUIS RIVERO R
Baking Pancakes with PancakeSwap Dex exchange on the Binance Smart Chain network.
This is the best known exchange on the Binance Smart Chain blockchain, although it is relatively new and has been one of the most successful on this platform. It is a fork of the popular Dex UNISWAP. For those who like to invest in new projects this is a good option, it works similar to the Dex exchanges that are currently available on the Ether network.
Now why use it.
-Simply for adding liquidity in different trading pairs, you receive rewards in your internal token, that is, in Cake, the amount to receive will depend on each of the available assets and their APY.
-The Cakes you win in the mining pools can be bet in the different syrup Pools and depending on the amount wagered you will receive more cake.
-A Lottery is available that if you get lucky you can win a lot of money, and you don't necessarily have to spend your investment since you can use the Cake tokens won.
-It is available in the Binance Smart chain blockchain, Fast and really cheap transactions.
-It has more than 50 trading pairs, most of the concise and popular coins are available on this blockchain, for example BTC, ETH, BCH, among others.
-Allows proposals by the community and these are voted, as well as can be taken into account.
In general, it offers all the advantages of a Dex both for liquidity providers and for users who buy the different assets since they offer competitive prices for each asset taking into account the availability of each one. What can generate some type of concern is whether the contract since it may have unverified failures, this conclusion can be reached due to the time it has in the market, there is also data that indicates that Binance is the one who is financing all of This project from the beginning however this is not proven, what is really verified is that currently Binance helps to some extent the projects that use the BSC network to develop DEFI projects since that is its purpose.
If your purpose is to increase your capital you must create an investment route that you can grow in PancakeSwap, it is really easy to use if you already have experience in ETH here it works exactly the same but faster and cheaper.
Pros
- Fast transactions.
- Really low fees compared to other chains.
- You can have good returns if you know how to manage your capital.
- It has an integrated lottery that offers great rewards.
- Your token has a good performance compared to its development as an exchange.
- There are new stages of its development, as well as new methods of exchange.
- It has a workable roadmap.
- It is backed by BINANCE.
Cons
- He had some problems with an internal utility token that was issued more than the market should really have, however this did not do much or generated a service failure.
- No margin trading.
