PancakeSwap Price CAKE Price Index, Live Chart and USD Converter

The chain is hosting an ongoing Game Jam developer competition throughout February and recently commenced a global gaming hackathon partnered with CyberConnect. BNB Chain announced two new Web3 gaming partnerships with GAIMIN and Seedify, respectively. Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.

The slippage tolerance for PancakeSwap trades is between 0.5% and 1%. Three prominent PancakeSwap rivals are Uniswap, Coinbase, and Binance, so let’s see how it stacks up against them. However, note that PancakeSwap suffered a hack in March 2021, engineered through the platform’s DNS service provider.

The token did maintain value better than Ethereum and Bitcoin in the latter half of 2022. Project Insights In-depth project research displaying the core features of the latest DeFi protocols. No spam — just heaps of sweet content and industry updates in the crypto space. Please note that this is not an exhaustive list of all the risks related to staking. For Flexible Staking simply press Flexible, which will present a new window, enter the amount of CAKE you wish to stake, click Confirm, and confirm the transaction in your wallet. CertiK conducts security assessments on the provided source code exclusively.

It is designed to mint and distribute token rewards to ecosystem participants and burn tokens in various ways to keep control of the overall token supply. It’s important to keep in mind that the total annual rewards are distributed among all active stakers. Join over a million users buying and selling PancakeSwap at Bitvavo and enjoy our low fees and easy to use platform.

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PancakeSwap uses an automated market maker that relies on the funds deposited into smart contracts, also known as liquidity pools. These funds are then automatically available for users to trade against. The biggest selling point of this model is that there is no need to involve intermediaries or an order-matching exchange infrastructure. In the same way, there are no know-your-customer restrictions on the trading section of the platform. PancakeSwap is a decentralized exchange that lets you trade with lower fees than many rival exchanges. It also lets you earn interest on your crypto assets by staking or lending them.

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Transactions on Pancake Swap are likewise incredibly quick and efficient. Get passive income with massive APY on top of your holdings by staking assets that you have in your Guarda Wallet. You can always easily store, exchange, buy and send your PancakeSwap at any time, right in your browser.

  • PancakeSwap is an automated market maker , a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain .
  • This token is designed to increase liquidity on the PancakeSwap exchange by encouraging users to stake or lend their holdings or participate in the lottery program.
  • Hence, the proliferation of Dexes such as Pancake Swap, Sushi Swap, etc.
  • The yield from the LP is rewarded in CAKE and sometimes other tokens.

Initial Farm Offerings give users early access to new tokens being added to PancakeSwap. To participate, you’ll need to swap CAKE tokens for iCAKE, which is the exclusive currency for buying new tokens from farm offerings. This feature lets users get in on the ground floor of new tokens and reap potential profits.


Anthony Georgiades Innovating Capital general partner shares his crypto markets analysis. Plus, Riot Vice President of Capital Markets Philip McPherson discusses how the bitcoin mining firm is navigating crypto winter. PancakeSwap has emerged as one of the leading DApps on Binance Smart Chain and one of the most popular yield farms in the DeFi market. Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind.

pancake swap

Another example was when they sued Bitfinex and claimed that the stablecoin Tether was misleading investors. This makes it possible to create an account and right away be able to start trading. In order to use PancakeSwap you need to have one of the following wallets. The platform is only possible to use if you connect your wallet to the platform. Pancake Swap transactions, on the other hand, are charged in BNB and are extremely cheap. A single trade on Pancake Swap normally costs only a few cents in BNB gas expenses.

The transactions occurring through the Bitcoin network will auto-convert BTC to ICP and burn it, making the transactions deflationary for the $ICP token. The proposal on the ICP dashboard has near-unanimous approval to launch the code canisters that will give easy ckBTC functionality to decentralized wallets. The partnership with Seedify will focus on another area of gaming and help grow BNB Chain support for all aspects of Web3 gaming. The blog confirmed that the partnership will focus on incubator and launchpad verticles, supporting projects through services like hackathons, research, grants, and more. Overall, the DeFi space is rapidly expanding, and PancakeSwap has built itself a name in the room where it continues to innovate. The team has plans to develop itself further and bring more innovation to both DeFi and BNB Chain making it a project worth paying attention to.

Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Using automated theorem provers or model checkers to validate that the specifications and properties of the contract hold true. Defining the specifications and desired properties of a contract in a formal language. Formal verification is a method of mathematically proving that a computer program functions as intended. It involves expressing the program’s properties and expected behavior as mathematical formulas, and then using automated tools to check that these formulas hold true.

Code Snippet 1 shows a simplified program that implements a token transfer function. The function transferFromUser1 transfers tokens from User 1 to User 2. The program has an invariant that the total supply of tokens always equals the sum of the balances. The specifications and desired properties can be refined by applying more specifications to smaller pieces of code or making the specifications more detailed. This can make it easier for the theorem provers and model checkers to validate that specifications and properties hold true. Sometimes the automated theorem provers or model checkers cannot prove or disprove that a property holds true.

Historical PancakeSwap price chart and current PancakeSwap price.

This use of mathematical reasoning helps to ensure that smart contracts are free from bugs, vulnerabilities, and other unintended behavior. It also helps to increase trust and confidence in the contract, as its properties have been rigorously proven to be correct. The initiative enables developers to build on works created by others. Through the collective effort of developers, Pi Network aims to combine unique ideas to generate a robust ecosystem of valuable applications.

The open-source nature of most Defi protocols has made it possible for other smart contracts blockchains, such as the Binance smart chain, to replicate the same Defi protocols. Pancake swap photos — Bing imagesOnce upon a time, Defi was synonymous with Ethereum, and Ethereum remains the primary cryptocurrency in this niche. Exchanges must earn revenue to sustain their operations, so they charge fees to users, and PancakeSwap is no exception. You can expect to pay fees on any exchange for spot trading and futures trading. Non-fungible tokens are cryptographic records on a blockchain that no one can replicate, and they’re often used to represent digital art. PancakeSwap offers a marketplace where you can buy and sell NFTs hosted on the Binance Smart Chain.

Once completed, you will be able to access PancakeSwap and begin swapping, staking, and providing liquidity. The yield from the LP is rewarded in CAKE and sometimes other tokens. The CAKE governance token can also be staked and used to participate in a deflationary lottery. PancakeSwap is the leading multichain Decentralized Exchange across Decentralized Finance .

The % of CAKE rewards being sent to burn will linearly increase in the 90 days “After Burning” period until it reaches 100%, which means all the CAKE rewards are burnt. Hence, please take a note of when the fixed-term staking period ends as otherwise your may lose not only your rewards, but the staked CAKE tokens. The Pancakeswap team told its community via Twitter on Tuesday that it has burned 7,070,534 CAKE tokens (worth $31 million) this week. The only funding received by Pancake Swap seems to have come from Binance. According to an anonymous post on Reddit, a significant portion of pancake swap’s code still references Uniswap.

100% of CAKE-denominated fees from the platform’s “initial farm offerings,” a service designed to help BNB Smart Chain developers raise capital for their projects. The Trust Wallet DApp Browser enables users to seamlessly and securely participate in the PancakeSwap ecosystem with only a few clicks in the app. Thanks to Trust Wallet’s native support for PancakeSwap, you can easily store all your Binance Smart Chain assets including CAKE in your Trust Wallet once you have “harvested” your tokens.

PancakeSwap vs. Binance

They also offer Annual Percentage Yields ranging into the hundreds for for supplying liquidity and working in boosts. Arguably, the easiest way to Earn CAKE tokens is by providing liquidity to the platform’s trading pools. CAKE is the native token of the PancakeSwap exchange built on the Binance Smart Chain (BEP-20).

Unlike Centralized Exchanges , anybody can trade hundreds of digital assets with over $100,000,000 in liquidity. Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms. CAKE anchors the incentive-based economy of PancakeSwap’s AMM as it unlocks several opportunities to generate earnings.

Pancakeswap Burns 7,070,534 CAKE Tokens This Week

Owners can swap their CAKE tokens for other ones or stake their tokens to earn rewards. Manual auditing provides a human expert review of the contract’s code, design, and deployment. The auditor can use their experience and expertise to identify potential security risks and evaluate the contract’s overall security posture. They can also verify that the formal verification process was performed correctly, and check for issues that may not be detectable with automated tools. Their expert insight helps ensure that the specifications and desired properties used in formal verification are indeed the right ones.

What’s more, you can convert your CAKE tokens into other BEP20 assets directly in Trust Wallet should you desire. This is different from centralized exchanges that normally have their servers more concentrated. This spread-out of servers leads to a lower risk of server downtime and also means that DEXs are virtually immune to attacks. This is because if you take out one of the servers, it has little to no impact on the full network. However, if you manage to get into a server at a centralized exchange, you can do a lot more harm.

Flat fees mean that the exchange charges the taker and the maker the same fee. Spot trading means buying or selling cryptocurrencies at a specified market rate (“on the spot”). Note that you must first connect an existing wallet holding the tokens you want to swap — PancakeSwap doesn’t support fiat currency. GAIMIN.IO Ltd is a UK and Swiss-based gaming company focused on helping the gaming community monetize the computational power of their gaming PC. This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500.

SourceThe CAKE Chefs worked extremely hard to get the token to where it is today. After starting out inflationary and with an unlimited supply, the token battled through market adversity and to maintain the market share it has today. PancakeSwap has gone above and beyond and received audits from top security protocols like Slowmist, Peckshield, and CertiK. PancakeSwap has also participated in several bug bounty‍ programs to help protect user funds. PancakeSwap currently dominates both BNB Chain and Aptos, with over 50% of the Total Volume Locked on both chains. The Ethereum integration is a much harder hill to climb, where PancakeSwap retains a minor market share.