What is CAKE?
CAKE is the governance token of PancakeSwap, a decentralized exchange for swapping BEP-20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Users deposit their funds into the pool and receive liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
How to get the best swap rate for CAKE?
Step 1: Use your e-wallet to connect to dApp SwapX
Step 2: Choose CAKE to swap for USDT or other tokens
Step 3: Compare swap rates for CAKE on SwapX and other exchanges
AMMs on Binance Smart Chain have lower fee, faster transaction speed, but still suffers from low liquidity and high price slippage. Also, as BSC is a relatively new public blockchain, it needs some time to develop cross-chain solutions and dApps that are more popular than those on Ethereum.
As an advocate for BSC, LaunchZone Ecosystem is committed to providing an ultimate solution for DeFi by building a new generation of AMM called LaunchZone SwapX. LaunchZone SwapX uses Cross-Chain Layer 2, LaunchZone’s unique technology, to automatically acquire the best pricing available for cryptocurrency swaps on BSC.
For more details about SwapX, click here.
Link to LaunchZone SwapX: https://swapx.launchzone.org/#/
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