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What is Pancakeswap? How does it work?

PancakeSwap, a native to the BNB Chain, is a decentralized exchange. PancakeSwap can be comparable to well-known platforms like UniSwap in that users may exchange currencies directly without the need of intermediary services. The only distinction is that PancakeSwap is concentrated on BEP20 tokens. To understand better, let's find out what is Pancakeswap? and how does it work?

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As previously mentioned, Token pairings exchange tokens via liquidity pools. Users can trade one kind of token for another short of the necessity of a middleman. People who stake their tokens in the liquidity pools get a cut of the profits from transactions.
But that just makes up a tiny portion of the full PancakeSwap experience. The DEX also permits you to bet coins into reward-growing "Syrup Pools."
PancakeSwap also provides activities that resemble games, such as betting on whether the price of Binance Coin will decrease or increase over a specific period of time. Besides, the DEX sells a variety of collectable non-fungible tokens with bunny themes. Initial Farm Offering sales let you purchase brand-new coins from many developing projects.
PancakeSwap has been recognized to be quite secure. Because it is a non-custodial DEX, which means that the platform does not ever store your assets in big hot wallets directly. Therefore, DEXs are substantially more secure than centralized exchanges. With the above information, readers can become more familiar with What is Pancakeswap?
Cre: https://market247.io/
See detail: https://market247.io/what-is-pancakeswap

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