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Review on PancakeSwap by Toprak Dere

Revainrating 5 out of 5

About PancakeSwap

The DeFi industry is one of the most popular topics in terms of crypto money recently. This popularity also causes the price of DeFi tokens to increase. PancakeSwap is the last DeFi protocol to be mentioned recently.
The PancakeSwap exchange does not use order books like traditional exchanges. Instead, it uses an automated market maker (AMM) model that matches buy and sell orders directly to others in a pool of liquidity. These pools are filled with funds from other users. Users can earn trading fees and liquidity provider (LP) tokens by providing liquidity to such a pool. LP tokens are called FLIP tokens to be compatible with the pancake. There are different types of these tokens.
As with any other DeFi protocol, PancakeSwap comes with inherent risks. However, the security provided by Binance Smart Chain (BSC) is gratifying for DeFi users. PancakeSwap brings all the functionality of Uniswap to Binance Smart Chain (BSC) for free. Transaction fees are paid using BNB tokens, but these fees are considerably lower than Ethereum-based DeFi protocols. DeFi protocols generate an incredible amount of revenue. Moreover, these platforms are quite new. Binance Smart Chain (BSC) is an exciting new platform for DeFi. PancakeSwap is one of many successful projects from BSC.
img 1 attached to PancakeSwap review by Toprak Dere



Pros
  • It is possible to see PancakeSwap's own token CAKE, some Binance Coin and BUSD. Various pools such as CAKE-BNB, BUSD-BNB, USDT-BUSD promise earnings at varying rates.
  • swap transaction is done with Binance Smart Chain, which allows users to “make faster transactions with lower fees.
  • NFT can be used at PancakeSwap, participating in organized lottery draws and Initial Farming Offerings (IFO)
Cons
  • none

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