Tag: Cake Token

You might be forgiven for thinking that food-themed cryptocurrencies were just a ‘flash in the pan’, so to speak. To an extent, you may have even been correct. The yield farming frenzy during Summer 2020 produced several food-based yield farming protocols and tokens. PancakeSwap is a decentralized cryptocurrency exchange (DEX) built on Binance Smart Chain (BSC), powered by the BEP-20 Pancake token (CAKE). The CAKE token is one of several tokens used within the PancakeSwap protocol and made available for token swaps. Similar to Uniswap, PancakeSwap is an automated market maker (AMM) and decentralized application (dApp) that features liquidity pools where users can earn fees from staking, lending, and yield farming.