Review on PancakeSwap by Isaac John
The best decentralized exchange created by binance smart chain.
When I first came across this platform, I was shocked to see an exchange platform bearing this name " pancake" as pancake is mostly known to many as food. I was even more shocker, when I discovered that its currency are called "cake tokens". However, a user should be less bothered about the name, his major concerned should be what the platform can do.
Pancakeswap exchange is a new decentralized exchange platform. Decentralized in such a way that, there's no centralized authority over it. As the user can trade, without submitting to any authority.
Pancakeswap exchange was released in the year 2020, and was created on the binance smart chain.
This platform allows users to trade on their Cryptocurrencies to provide liquidity for the exchange pools and thus, earns them additional tokens.
transaction process in this platform is very fast. And the trading fees in this platform is very low, when compared to other decentralized exchange
transaction process in this platform is very fast. And the trading fees in this platform is very low, when compared to other decentralized exchange.
Like other decentralized exchange, PancakeSwap has its own native tokens called CAKE. The CAKE tokens can be stake on the syrup pool, inorder to gain more tokens.
So far, PancakeSwap exchange is the best decentralized exchange in the market today.
Pros
- PancakeSwap allows users to exchange BEP20 tokens.
- Users can stake their tokens in this platform inorder to gain more tokens.
- The transaction fees is low.
Cons
- Still new, it still requires some time to develop.
