Taking the Cake: All About PancakeSwap (CAKE)

Many of us are familiar with Ethereum’s UniSwap; however, PancakeSwap – UniSwap’s counterpart on the Binance Smart Chain – is equally worth keeping an eye on. In this article, we will be discussing everything you need to know about PancakeSwap. We will also take a look at which Killer Whale products you can use to take advantage of PancakeSwap’s CAKE token, as well as many other cryptocurrencies!

What is PancakeSwap

PancakeSwap is a Decentralized Exchange, or DEX as well as an Automated Market Maker. PancakeSwap was released in September of 2020 and operates on the Binance Smart Chain as a BEP-20 token and has accumulated over one billion dollars in its Total Value Locked, or TVL.

Liquidity Pools

Liquidity Pools allow users to provide liquidity for PancakeSwap, by adding their tokens to liquidity pools. Users who add their tokens to liquidity pools receive FLIP tokens, which are PancakeSwap’s version of liquidity provider tokens. FLIP tokens are essentially a combination of two cryptocurrencies which users have deposited into a Pool. For example, if a user were to deposit both DOT and BNB into a liquidity pool, they would in turn receive DOT-BNB FLIP tokens. the number of DOT-BNB FLIP tokens which a user receives is representative of the portion of both DOT and BNB tokens which they deposited into the corresponding liquidity pool. Furthermore, one FLIP token is equivalent to one of each token which is deposited, at a 1:1 ratio.

It is important to remember that liquidity providers may be exposed to impermanent loss, ergo providing liquidity is not a strategy which comes without risk. With risk, however, comes reward. Liquidity providers are also rewarded with trading fees. Whenever a user trades with PancakeSwap the trader pays a 0.2 percent fee of which 0.17 percent of which is added to the respective liquidity pool for the swap pair that they traded on.

Tokenomics

PanecakeSwap’s CAKE token has a block reward of 40 CAKE tokens per consolidated block, with a daily emission of 1,200,000 CAKE tokens per day. This is based on 30,000 blocks per day.

As far as distribution goes, 75 percent of block rewards go to farmers and 25 percent of rewards go to the holders of SYRUP, which is a token issued at a 1:1 ratio to those who have staked their CAKE tokens. PancakeSwap also plans on offering a lottery option. This will be referred to as “Golden Syrup.” The details regurarding this new lottery feature will be announced by the development team soon.

Killer Whale Products

Many of our Killer Whale products take advantage of PancakeSwap. Killer Whale Premium Signals , Bank Robber Signals and Killer Whale Large Cap Sector Strategy are all fantastic options! Be sure to check out the Killer Whale Products Page !

Killer Whale Crypto

CHANGE THE WAY YOU TRADE