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PancakeSwap is an open-source automated market maker (AMM) decentralized exchange (DEX) that runs on Binance Smart Chain, launched in 2020.


PancakeSwap is a decentralized exchange (DEX), which allows for trading cryptocurrencies and tokens without an intermediary, and runs on Binance Smart Chain. It is built on an automated market maker (AMM) system, which relies on user-fueled liquidity pools between token pairs to enable crypto trades. PancakeSwap is one of the largest such DEXs that runs on the Binance Smart Chain and is an alternative to Uniswap and other DEXs that run on the more established Ethereum. In addition to the capabilities of a traditional crypto platform (swapping, trading, yield farming, staking, NFTs), PancakeSwap offers several proprietary features: Initial Farm Offerings (IFOs), Yield Farms, Syrup Pools, PancakeSwap Lottery, Prediction Markets, and NFT Collectibles.

PancakeSwap was launched in September 2020 by anonymous developers, although it is known that the team consists of more than a dozen members (also known as chefs), including two co-leads (referred to as Hops and Thumper) and engineers. PancakeSwap is partially governed by the community and CAKE holders are able to use PancakeSwap's voting portal to vote on governance proposals.



CAKE is the token that powers the PancakeSwap ecosystem. Users can buy CAKE on the exchange, earn CAKE from Farms and Syrup Pools, or win it in the lottery. Within the ecosystem, CAKE is used for trading, yield farming, staking, participating in the lottery, and making and voting on governance proposals. CAKE is the 33rd-largest cryptocurrency on the market, with a market capitalization of $4.49 Billion.


April 2021
PancakeSwap upgrades to Version 2.
February 17, 2021
Became the first billion dollar project on the Binance Smart Chain
September 2020
PancakeSwap is launched by anonymous developers.


Further reading


Flapjack Millionaires: PancakeSwap Is Going To Make a Lot of People Rich

Adam Prescott


June 12, 2021

PancakeSwap - Medium


PancakeSwap Rides Wave of Perpetual Trading - Will $CAKE Awaken?


Q1 Roadmap Update - PancakeSwap - Medium

Chef Xander


March 31, 2022

What are Governance Tokens? How Token Owners Shape a DAO's Direction

moreReese, DJ


March 29, 2022

Documentaries, videos and podcasts


BSC News Podcast: Episode 32: PancakeSwap and Wault Finance are on a Roll!

March 24, 2021

Daily Pancake Swap Crypto Exchange Podcast top 50 coins under a penny: Daily PancakeSwap Crypto Exchange Podcast October 3, 2021 on Apple Podcasts

October 3, 2021

How to Use PancakeSwap with MetaMask (Binance Smart Chain Setup Tutorial)

April 27, 2021

Infosec Decoded: Pancakeswap on Apple Podcasts

May 7, 2021

New To Crypto: What is PancakeSwap and Cake Token on Apple Podcasts

August 17, 2021


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