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The main thing about PancakeSwap

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Thursday, November 11, 2021 at 8:47 PM filed under General postings
The PankaceSwap Decentralized Exchange (DEX) is based on the Binance Smart Chain (BSC) blockchain according to the BEP-20 standard. The exchange acts as an alternative to platforms operating on the Ethereum blockchain.
 
PancakeSwap uses an automated market maker model where users trade against a pool of liquidity. You can exchange BEP-20 tokens on the exchange. Liquidity pools on PancakeSwap are filled by users. In return, users receive tokens from a liquidity provider - LP. They are called FLIPs on PankaceSwap. FLIP tokens can be used to return your share and redeem part of the commission.
 
FLIP tokens can also be used for CAKE farming. CAKE tokens can be betted to receive SYROP tokens. The latter have additional functionality as management tokens and as lottery tickets.
 
Lotteries and NFTs-cards are the distinctive features of the PankaceSwap exchange. Lottery participants can win up to 50% of the lottery pool or receive a variety of awards. NFTs cards are analogous to collectibles and characters in online games. They can be stored or sold for CAKE.
 
Exchanger
CAKE tokens are required to work with PancakeSwap. They can be bought on the Binance exchange and transferred to Trust Wallet, or immediately bought on PancakeSwap. To do this, open the side menu, click on the "Trade" tab, then "Exchange". Also, you can exchange existing cryptocurrencies here https://alligat0r.com/coin-pairs/cro/cake/info
 
In the first window, select the token that we will sell. In the second, the CAKE token. At the first exchange, there will be 2 confirming payments - for activating the wallet and exchanging funds.
 
Prediction PancakeSwap
On PancakeSwap, you can make money by forecasting the BNB / USDT price. What is the point: the user bets on a decrease / increase in the price of the instrument. If he guesses correctly, he gets the specified coefficient.
After bets are accepted, the process takes five minutes. This demonstrates the change in the price of BNB / USDT. Now the Prediction platform is at the beta test stage, but anyone can try to make money on price prediction.
 
Lottery
CAKE tokens provide an opportunity to participate in the lottery. The lottery takes place every 6 hours. To take part in the lottery, open the side menu and go to the “Lottery” tab.

One ticket costs 10 CAKE tokens. You will receive a random 4-digit combination of numbers from 1 to 14. To win the jackpot, the numbers on the ticket must match the numbers on the winning ticket. If two or more numbers match, you will receive various rewards from PancakeSwap.

 

Conclusion
According to the CoinGecko rating, the decentralized exchange (DEX) PancakeSwap is ranked 3rd in terms of trading volume. The exchange operates on the BSC network, fees are lower than on the Ethereum network, and the speed of work is higher. Therefore, PancakeSwap cryptocurrency looks promising at the moment. However, the situation may change after the full launch of ETH 2.0.

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