PancakeSwap is decentralized exchange running on Binance Smart Chain.
The main benefit of decentralized exchanges (DEX) is that you keep all the tokens (assets) in your wallet and don’t have to deal with KYC that comes with centralized exchanges (CEX).
PancakeSwap gains a lot of popularity due to lower fees on BSC than on ETH network, meaning even smaller players can participate in De-Fi mania. PancakeSwap is not just about swapping BEP-20 tokens, it provides many other features including Farming, Staking tokens, Lottery and NFT implementation.
CAKE is PancakeSwap’s utility token used for variety of purposes.
As CAKE is a BEP-20 token, it comes with lower transaction fees than ERC-20 tokens (ethereum). If you have spare CAKE tokens, transfer these to casino and enjoy fun a bonuses crypto casinos offer.
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