Pancakeswap was originally built on the BNB Chain and allows users to trade tokens without using a centralized exchange. It provides an array of products, such as:

• An exchange to swap tokens
• A yield farm to earn rewards
• Syrup pools to stake CAKE tokens
• Ethereum liquid staking (wBETH) and simple staking
• Pancake Protectors game
• v3 position manager (new feature)
• A prediction market
• Initial Farm Offering (IFO) token launches
• A bridge to bridge CAKE to Ethereum and Aptos
• A lottery
• An NFT marketplace

Pancakeswap innovates quickly and ships new products regularly. In April 2023, PancakeSwap voted to transition to a deflationary token model called "Ultrasound CAKE." The protocol passed a proposal called CAKE Tokenomics v2.5 to create a structure combining real yield (no supply impact) and reduced token emissions. Over 102% of minted CAKE is burned weekly. This is intended to provide a multi-year runway for emissions and incentivize locking up CAKE, making the token more valuable long-term.

PancakeSwap has an anonymous team of “Chefs,” working in the PancakeSwap “Kitchen.” The platform is open-source and has been audited by multiple reputable blockchain security firms like Peckshield and Slowmist.

Although the bear market has impacted TVL and trading volume for the protocol, PancakeSwap still boasts an annualized revenue of $27 million, with 42% of CAKE is staked:

PancakeSwap V3 introduces several key innovations and features to improve capital efficiency, lower fees for traders, increase earnings for liquidity providers and enhance the overall user experience.

PancakeSwap V3 allows for capital concentration, enabling liquidity providers to focus their capital on specific price ranges rather than distributing it evenly across the entire price range. This concentration of capital where the majority of trading activity occurs can provide up to 4000x higher capital efficiency compared to V2, particularly for stablecoin pools. As a result, liquidity providers can earn significantly more fees on the same amount of liquidity.

Traders also benefit from lower trading fees in V3, as there are now 4 tiers of fees: 0.01%, 0.05%, 0.25% and 1% compared to the fixed 0.25% fee in V2. The tiers cater to the needs of different trading pairs based on expected volatility and trading activity. Concentrating liquidity in active ranges also reduces slippage for traders. V3 also implements a smart router to find the best trading route across V3, V2 and StableSwap pools.

For liquidity providers, the ability to choose fee tiers, customize price ranges, create non-fungible liquidity positions and concentrate capital provides more flexibility and potential to maximize earnings. V3 also introduces active liquidity farming, which rewards users in CAKE tokens when prices fall within the price ranges of their active liquidity positions. Other features include a VIP trading rewards program and position manager for easy single-click deposits.

One of the newest and most innovative features added to PancakeSwap is the Position Manager. It introduces auto-compounding of rewards, thus all fees and rewards earned by the liquidity position are automatically compounded back into the pool. This exponentially grows a provider's position over time through the power of compound interest. Furthermore, the Position Manager handles gas fees and position rebalancing automatically, mitigating the risk of impermanent loss. Providers can supply liquidity in concentrated price bands to maximize fees from high trading volumes and choose strategies optimized for their risk tolerance.

The all-time high of CAKE was 44.18 USD on 2021-04-30, from which the coin is now down 94.1376188320507%. The all-time high price of PancakeSwap (CAKE) is 44.18. The current price of CAKE is down 94.1376188320507% from its all-time high.

As of , there is currently 290.88M CAKE in circulation. CAKE has a maximum supply of 450.00M.

The current market cap of CAKE is 753.15M. It is calculated by multiplying the current supply of CAKE by its real-time market price of 2.59.

The all-time low of CAKE was 0.00023177 , from which the coin is now up 1117387.1639987917%. The all-time low price of PancakeSwap (CAKE) is 0.00023177. The current price of CAKE is up 1117387.1639987917% from its all-time low.

PancakeSwap (CAKE) has a market capitalization of $753.15M and is ranked #160 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze PancakeSwap (CAKE) price trends and patterns to find the best time to purchase CAKE.