Pancake Swap Is ready To Buy
Hi, traders!
While BTC is moving up and recovering after a small fell, we gonna tell you about some interesting and perspective projects, which can probably help you to make x2,x5 or even more. One of them is PancakeSwap.
What is PancakeSwap?
PancakeSwap is a decentralized cryptocurrency exchange for swapping BEP-20 tokens. If you’re familiar with Uniswap or SushiSwap, then you’ll know how PancakeSwap works. Each works in almost exactly the same manner.
The PancakeSwap exchange doesn’t use order books like traditional exchanges. Instead, it uses an automated market maker (AMM) model which matches buy and sell orders directly with others in a liquidity pool. User deposits maintain liquidity pools. By providing liquidity to such a pool, users can earn trading fees and liquidity provider (LP) tokens. LP tokes are redeemable for the initial capital deposited, plus any fees earned, minus any impermanent loss. Furthermore, LP tokens can then be staked, farmed, and traded!
Cloning or copying open source code from a popular decentralized application (dApp) is not uncommon. Particularly in DeFi, many new projects are based on existing protocols, with tweaks made to the original code. Simply make a few adjustments to a popular open-source code, create a new token, name it after your favorite snack, and presto - you’ve got yourself a freshly baked DeFi clone!
Regardless of whether you think cloning is a good thing or a bad thing, it happens a lot in crypto. For example, SushiSwap is a clone of Uniswap. Therefore, it should come as no surprise that PancakeSwap appears to work in a very similar way to SushiSwap, with a familiar layout and user interface.
However, PancakeSwap is flipping the yield farming model on its head, introducing a range of new features that provide an all-in-one yield optimization platform built around the Pancake token (CAKE). Furthermore, PancakeSwap benefits from the security of Binance Smart Chain (BSC), which could help convert some DeFi skeptics.
In September 2020, the Pancake token (CAKE) was launched on Binance Smart Chain (BSC). CAKE is a BSC-native BEP-20 token. The CAKE token has performed extremely well in 2021, showing an incredible price rally throughout February. The primary function of CAKE is to incentivize liquidity provision to the PancakeSwap platform.
PancakeSwap vs. Uniswap vs. SushiSwap
In today's cryptocurrency landscape, there are three major decentralized exchanges ruling the roost.
• Uniswap — The original DeFi liquidity protocol built on Ethereum. Today's standard for easy cryptocurrency trading using ERC-20 tokens and mostly ETH pairs.
• SushiSwap — A community-governed Uniswap fork that has evolved into a DeFi hub offering token swaps, farming, and crypto lending/borrowing.
• PancakeSwap — Uniswap clone built on BSC to deliver fast and inexpensive trades using BEP-20 tokens and the BSC←→ETH bridge.
While all three enable decentralized exchange, community governance, yield farming, and LP (liquidity provider) opportunities, only Sushi and PancakeSwap pay rewards back to token holders who stake their tokens.
Technical
As you can see on the chart, we have a strong up-trend with a great support. The consolidates in the most probable area with a low probability of down swings.
Fiba extension levels and ALLIGATOR shows us a strong up-trend with reliable support
Thus, we see these scenarios of future price action
A – consolidation above median line and breaking out above
B – consolidation in the pitchfork with medium volatility and breaking out above, too
C – breaking out the fork below and choppy price action
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
While BTC is moving up and recovering after a small fell, we gonna tell you about some interesting and perspective projects, which can probably help you to make x2,x5 or even more. One of them is PancakeSwap.
What is PancakeSwap?
PancakeSwap is a decentralized cryptocurrency exchange for swapping BEP-20 tokens. If you’re familiar with Uniswap or SushiSwap, then you’ll know how PancakeSwap works. Each works in almost exactly the same manner.
The PancakeSwap exchange doesn’t use order books like traditional exchanges. Instead, it uses an automated market maker (AMM) model which matches buy and sell orders directly with others in a liquidity pool. User deposits maintain liquidity pools. By providing liquidity to such a pool, users can earn trading fees and liquidity provider (LP) tokens. LP tokes are redeemable for the initial capital deposited, plus any fees earned, minus any impermanent loss. Furthermore, LP tokens can then be staked, farmed, and traded!
Cloning or copying open source code from a popular decentralized application (dApp) is not uncommon. Particularly in DeFi, many new projects are based on existing protocols, with tweaks made to the original code. Simply make a few adjustments to a popular open-source code, create a new token, name it after your favorite snack, and presto - you’ve got yourself a freshly baked DeFi clone!
Regardless of whether you think cloning is a good thing or a bad thing, it happens a lot in crypto. For example, SushiSwap is a clone of Uniswap. Therefore, it should come as no surprise that PancakeSwap appears to work in a very similar way to SushiSwap, with a familiar layout and user interface.
However, PancakeSwap is flipping the yield farming model on its head, introducing a range of new features that provide an all-in-one yield optimization platform built around the Pancake token (CAKE). Furthermore, PancakeSwap benefits from the security of Binance Smart Chain (BSC), which could help convert some DeFi skeptics.
In September 2020, the Pancake token (CAKE) was launched on Binance Smart Chain (BSC). CAKE is a BSC-native BEP-20 token. The CAKE token has performed extremely well in 2021, showing an incredible price rally throughout February. The primary function of CAKE is to incentivize liquidity provision to the PancakeSwap platform.
PancakeSwap vs. Uniswap vs. SushiSwap
In today's cryptocurrency landscape, there are three major decentralized exchanges ruling the roost.
• Uniswap — The original DeFi liquidity protocol built on Ethereum. Today's standard for easy cryptocurrency trading using ERC-20 tokens and mostly ETH pairs.
• SushiSwap — A community-governed Uniswap fork that has evolved into a DeFi hub offering token swaps, farming, and crypto lending/borrowing.
• PancakeSwap — Uniswap clone built on BSC to deliver fast and inexpensive trades using BEP-20 tokens and the BSC←→ETH bridge.
While all three enable decentralized exchange, community governance, yield farming, and LP (liquidity provider) opportunities, only Sushi and PancakeSwap pay rewards back to token holders who stake their tokens.
Technical
As you can see on the chart, we have a strong up-trend with a great support. The consolidates in the most probable area with a low probability of down swings.
Fiba extension levels and ALLIGATOR shows us a strong up-trend with reliable support
Thus, we see these scenarios of future price action
A – consolidation above median line and breaking out above
B – consolidation in the pitchfork with medium volatility and breaking out above, too
C – breaking out the fork below and choppy price action
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
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