What is CAKE?
CAKE is the governace token of Pancakeswap a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
How to get the best swap rate for CAKE?
step 1: Use your e-wallet to connect to dapp: pancakeswap.finance
Step 2: Choose CAKE to swap for USDT or other tokens
Step 3: Compare
AMMs that were built on Binance Smart Chain has low fee, fast transaction advantages, but still suffered from low liquidity and high price slippage. Binance Smart Chain is also a relatively new public blockchain, it needs more time to develop cross-chain solutions and dApps that work effectively and more popular than those are on the Ethereum blockchain. As an advocate for the development of the Binance Smart Chain, BSCEX Ecosystem is committed to providing an ultimate solution that aims to minimize the problem of low liquidity and high price slippage by building a new generation of AMM with Cross-Chain Layer 2 called BSCex SwapX.
For mor information about SwapX: https://bscex.org/docs/bscexs-swapx-the-ultimate-solution-for-the-low-liquidity-and-high-price-slippage-of-decentralized-finance/
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