PancakeSwap (CAKE)

PancakeSwap (CAKE) is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). It allows users to trade cryptocurrencies without a centralized authority and offers liquidity through automated market-making (AMM). PancakeSwap operates through a system of smart contracts, which execute trades and distribute trading fees to liquidity providers. It also has a farming and staking platform that rewards users who provide liquidity with CAKE tokens. CAKE, PancakeSwap's native token, is used for governance, trading fees, and for farming and staking rewards. The popularity of PancakeSwap has been attributed to its lower transaction fees and faster transaction times compared to other DEXs operating on the Ethereum network. Overall, PancakeSwap provides an easy-to-use and accessible platform for cryptocurrency trading, farming, and staking, which has made it popular among the Binance Smart Chain community.