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PancakeSwap (CAKE) Price

CAKE

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Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.

Digital currencies are very high risk. Do not invest money you can’t afford to lose. Please consider the suitability of crypto for your individual position before trading.

What is PancakeSwap (CAKE)

Operating on the Binance Smart Chain (BSC), PancakeSwap is a decentralized exchange (DEX), and which functions, more specifically, as an automated market maker (AMM), according to Messari.

CAKE serves as PancakeSwap’s native currency. It’s a governance token granting holders the right to vote on future changes to the protocol, CoinGecko said.

CAKE, per Messari, is distributed to liquidity providers in exchange for staked LP tokens.

A hard fork of SushiSwap, PancakeSwap utilizes a nearly identical codebase but benefits from the enhanced speed, scale, and cost savings of the BSC (Messari).

As a DEX, PancakeSwap doesn’t use an order book for harvesting and routing trading flows; nor is it reliant on centralized market makers. Rather, users trade against a collection of deposits supplied by a global network of liquidity providers. The assets within “liquidity pools” of deposits are priced via PancakeSwap’s AMM.

As of early April 2022, according to DeFiLlama, PancakeSwap had a Total Value Locked (TVL) just north of $5 billion, making it the 10th-largest DeFi project based on TVL. Note, PancakeSwap’s TVL is $1.3 billion more than its next of kin, SushiSwap, the 12th-largest DeFi project.

How to buy PancakeSwap (CAKE)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

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