What is PancakeSwap.Finance? How to get the most out of it?

Pancakeswap.finance alternatively known as Pancakeswap(PCS) is a very common word for many who regularly follow the Binance Smartchain, where most of the transactions take place.

What is Pancakeswap?

Pancakeswap is DEX(De-Centralized Exchange, where no one person controls the trades) built on Binance Smartchain(BSC) by Anonymous developers. It can be used for the Swapping of tokens(BEP-20). The exchange function is similar to Uniswap or Sushiswap if one is aware of Ethereum based DEX.

Exchange Feature in Pancakeswap can be used for Exchange of BEP-20 Tokens with nominal cost in terms of fee using BNB when compared to Uniswap v2 on Ethereum network. Anyone can provide liquidy by contributing to the liquidity pair.

How to earn from Pancakeswap.Finance ?

Most of the platforms offer the Farming feature, where users can contribute to Liquidity pair and stake those LP Tokens to earn their native tokens. This is the same case with Pancakeswap too, you may submit liquidity to a pair say BNB-BUSD, these LP Tokens generated can be staked in pancakeswap for earning their native token which is called “CAKE”. If you are not aware of what is staking? Please click here

$CAKE would be used for community voting purpose, towards the new proposal by the team. As of now, all major happenings including V2 Migration has been decided basis of Community vote only.

Apart from this governance utility of $CAKE, you can use $CAKE for earning other tokens by staking into Syrup pools.

Most of the new projects that gets launched on Binance Smartchain, uses Pancakeswap platform for launching their Initial Coin Offering. Pancakeswap is generally being considered as good platform for kickstarter projects to raise the funds.

For those, who can’t/don’t want to participate directly in ICO’s, one can earn those token in their syrup pools, simply by staking their $CAKE. One thing to be noted is that, these pools provide APY as high as >100%, which would be definetely a good option to put your idle $CAKE to work and earn some rewards.

Many well known other cryptos too, which high Binance Peg version of their token like ZIL, TRON,BTT, QKC etc., too participated(ing) in those syrup pools.

Pancakeswap V2

With the launch of V2, many notable features have been brought by pancakeswap.finance to its community varying from Auto re-stake feature for $CAKE, reduced emission, other security feature and increasing the scalability of V2, Nevertheless to mention Prediction features, where one predict the pricing of BNB whether it would be UP or DOWN in next 5 minutes and earn BNB.

$CAKE is trading nearly around $19 at the time of writing this article and it has reached an ATH of more than $43.92 on April 30, 2021.

Roadmap of Pancakeswap seems to be promising and team delivering features as per the schedule which is a good sign. Development team is also available in their Telegram communities for community to reach out.

If you have $CAKE idle, put it to use by staking