PancakeSwap is a decentralized exchange (DEX) that operates on an automated market maker model, allowing users to swap crypto tokens and provide liquidity through smart contracts. It was launched in December 2020 on BNB Smart Chain and has since expanded to several other blockchain networks. Its native token is CAKE.
The project is developed by a pseudonymous team, and its protocol is governed by CAKE holders through community voting. The platform offers token swapping, liquidity pools, yield farming, staking, and perpetual futures trading. It is aimed at crypto users who want to trade tokens on-chain without a centralized intermediary.
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