Buy PancakeSwap (CAKE)
What is PancakeSwap?
PancakeSwap is a decentralised exchange (DEX) protocol designed for token swaps, liquidity provision, and staking, operating on the Binance Smart Chain (BSC). It employs the Automated Market Maker (AMM) model, enabling trading without relying on traditional order books. Key features of PancakeSwap include low transaction costs, fast trade execution, and a variety of financial products such as lotteries, NFT marketplaces, and Initial Farm Offering (IFO) launches.
How does PancakeSwap work?
PancakeSwap utilises the AMM system, enabling users to trade cryptocurrencies via liquidity pools instead of traditional buy and sell orders. This model is supported by Binance Smart Chain's Proof of Staked Authority (PoSA) consensus mechanism. The platform employs smart contracts to manage these liquidity pools, execute trades, and handle staking. PancakeSwap's Smart Router links various trading algorithms to ensure optimal liquidity and pricing across its ecosystems, with its code being open-source and available for review.
What are the potential use cases for PancakeSwap?
PancakeSwap offers multiple use cases across the decentralised finance sector, including:
- Decentralised exchange for token swaps
- Liquidity provision and farming for earning rewards
- Staking in Syrup Pools
- Perpetual trading and prediction markets
- Lotteries and NFT marketplace transactions
- Initial Farm Offerings (IFOs) for new token launches
- Fiat-to-crypto conversions via on-ramp services
- Collaborations in options trading and blockchain gaming
What is the history of PancakeSwap?
PancakeSwap was launched in September 2020 as a fork of SushiSwap, designed to operate on the BNB chain. It has since achieved significant milestones, such as launching PancakeSwap V3 in April 2023 with improvements in user experience and capital efficiency. Significant growth was noted with its market share jumping by 110% between Q1 and Q2 2023. The platform continues to expand, offering new products and services, including a Revenue Sharing program and various blockchain-based games. The team behind PancakeSwap remains anonymous, working under pseudonyms like Hops and Thumper.
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Frequently Asked Questions (FAQs)
What is the current price of PancakeSwap (CAKE)?
The PancakeSwap price is $4.062 AUD, representing a +20.4% from the day prior.
Where is the best place to buy PancakeSwap (CAKE) in Australia?
The best place to buy PancakeSwap (CAKE) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell PancakeSwap (CAKE) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of PancakeSwap (CAKE)?
The trading volume of PancakeSwap (CAKE) is $368.8M AUD in the last 24hrs, representing a +20.4% from the day prior.
How can I buy PancakeSwap (CAKE)?
PancakeSwap (CAKE) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of PancakeSwap (CAKE)?
The current market cap of PancakeSwap (CAKE) is $1.2B AUD.
Can I convert PancakeSwap (CAKE) to cash?
Yes - With Coinstash you can convert your PancakeSwap (CAKE) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many PancakeSwap (CAKE) are there?
The current circulating supply of PancakeSwap (CAKE) is 295.1M.
Is Coinstash a safe place to buy PancakeSwap (CAKE) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling PancakeSwap (CAKE) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.