PancakeSwap
Current price
$2.19
−4.66%24h
LiveUpdated 22s ago
TodayPancakeSwap falls 4.7%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.73%
- 24 hours−4.66%
- 7 days−2.06%
- 30 days−3.43%
- 1 year−27.15%
PancakeSwap's move in context
Lagging the market today
−4.66% today against −3.27% for the market as a whole, a gap of 1.4 points. Small gaps like this are common, so they don't point to anything specific.
Part of a slide
−2.1% over 7 days and −3.4% over 30 days: the recent move continues the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About PancakeSwap
Overview
PancakeSwap is a decentralized exchange (DEX) that operates on the Binance Smart Chain (BSC), primarily enabling users to swap BEP-20 tokens quickly and with minimal fees. The platform was created to provide a user-friendly interface that mimics the trading experience of exchanges like Uniswap on the Ethereum blockchain but with lower transaction costs. The core mission of PancakeSwap is to create a decentralized financial ecosystem that allows users to trade cryptocurrencies without relying on a central authority. Some distinguishing features include yield farming, staking, and participation in lottery games, all of which enhance the overall user experience and incentivize community engagement.
Technical Features
PancakeSwap utilizes the automated market maker (AMM) model, allowing users to trade without the need for order books. The platform operates on the Binance Smart Chain, which provides faster transaction speeds and lower gas fees compared to Ethereum. PancakeSwap's security model involves smart contracts that have undergone audits to ensure the safety of user funds. The architecture is built on the BEP-20 token standard, which is compatible with the wider BSC ecosystem. Unique algorithms such as liquidity pools are employed, enabling users to provide liquidity to the platform and earn rewards in return. PancakeSwap also utilizes a system of governance through its native token, CAKE, allowing stakers to influence significant decisions related to the protocol's future developments.
Use Cases
The primary use cases of PancakeSwap revolve around decentralized finance (DeFi). Users can swap various cryptocurrencies easily and securely, participate in yield farming to earn CAKE tokens, and stake their tokens to earn passive income. Furthermore, PancakeSwap supports various applications such as liquidity provision, where users can add tokens to pools and receive a portion of trading fees. The platform also offers governance features, allowing CAKE holders to vote on protocol changes. Additionally, it hosts NFTs and various lottery features, creating a comprehensive DeFi experience for users looking to maximize their crypto assets.
Development Background
PancakeSwap was launched in September 2020 by a team of developers who sought to create a user-friendly alternative to Uniswap while benefiting from the scalability of Binance Smart Chain. The platform quickly gained traction due to its lower fees and efficient transaction processing. Over the years, PancakeSwap has evolved, releasing new features, expanding its offerings, and enhancing the platform's overall user experience. It has experienced significant growth, aided by its vibrant community and strategic partnerships that have bolstered its ecosystem.
Community and Ecosystem
PancakeSwap has developed a robust community of followers and contributors who actively engage in its ecosystem. The DEX has established partnerships with different projects and decentralized applications (DApps), contributing to a thriving environment for DeFi innovation. Community support is highlighted through forums and social media channels where users can collaborate and share insights. Numerous projects have been built on PancakeSwap, tapping into its liquidity pools and functionality to enhance their own applications.
Future Potential
The future potential of PancakeSwap appears promising due to the growing interest in DeFi and the increasing adoption of the Binance Smart Chain. Plans for further development include the introduction of additional features to enhance user experience, more robust governance options, and continued integration with other blockchain projects. As the DeFi landscape expands, PancakeSwap is poised to play a crucial role in shaping the future of decentralized exchanges, offering users a comprehensive platform to manage their crypto assets effectively.
PancakeSwap market
- Position by market cap among the coins we track.
- #71
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $695.68M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $2.15High $2.31
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $43.96
- Now 5% of itReached 30 Apr 2021 · Needs +1,909% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 317.95M CAKE
- 79% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 329.54M CAKE
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 400M CAKE
- The most coins that can ever exist. Some coins have no limit.
PancakeSwap converter
1 PancakeSwap = $2.19
