In this review, we will guide you through the PancakeSwap DEX.
Pancakeswap is based on the Binance Smart Chain and is the equivalent of Uniswap on the Ethereum smart chain. Pancakeswap is one of the largest DEX and is rated as a top crypto exchange.
Pancakeswap was launched by anonymous devs with a penchant for breakfast foods and rabbits.
The DEX looks a bit like Ethereum’s Uniswap with some similar features (community governance, the ability to farm liquidity provider tokens).
However, Pancakeswap have more additional features that let you earn rewards.
Pancakeswap Features Overview
As you can see in the screenshot below, Pancakeswap has a long lists of features.
- Team Battle
Pancakeswap Trade Review
The main feature of the Pancakeswap DEX is, of course, the exchange or trade features. Lets review the Pancakeswap exchange.
First, what are you looking for when you are about to exchange a token?
- Available trading pair
Its obvious that the exchange must have listed your trading pair and there must be some minimum liquidity, at least. Also, the fees are important but they don´t necessarily have to be super low dependent on your purpose.
Speed can be very important for high-frequency traders but in most cases speed is not necessary as long as the swap is under 1 minute.
Pancakeswap farms and liquidity review
In Pancakeswap, and others DEX´s, there are liquidity farms where you can add your tokens to support liquidity.
To support liquidity you will need to deposit both trading cryptocurrencies in a trading pair.
There are some great APY´s on liquidity farming in Pancakeswap. However, you should be familiar with the term impermanent loss before you go ahead and think it´s an easy opportunity to get up to 1000% ROI.
In the screenshot below, you can see the liquidity pool CAKE-BNB which will give you 73.01% APR. Also, you can see the current liquidity in the pool and what multiplier it has.
The APR is dynamic since it depends on the fees paid and the the total liquidity in the pool. A dynamic APR changes all the time and if you find high APR´s they are high because they are missing liquidity. Liquidity tends to flow in the APR will get lower.
When you deposit your LP tokens, you lock them up in a process that rewards you with CAKE. You can unlock them whenever you want.
Pancakeswap Stake Syrup Pools review
With Pancakeswap you can also earn passive income by staking CAKE in Syrup pools.
The rewards for the staked CAKE come from the CAKE emissions. Each block, 10 CAKE tokens are allocated as rewards for these pools.
The rewards for the other Syrup Pools are provided by the project teams who sponsor a Syrup Pool.
In the syrup pool, you can only stake CAKE but you can earn many different tokens and you can see some of them in the screenshot below.
In the syrup pools there is no risk for impermanent loss.
Pancakeswap Predictions Markets Review
Pancakeswap have launched a prediction market features. It´s obvious this is a beta feature with a limited amount of features.
Pancakeswap Lottery Review
What is the Pancakeswap lottery?
Basically, you can use your CAKE tokens to enter into a lottery where you can win CAKE tokens.
As you can see in the screenshot below, all data is transparent. There are the winning numbers, the price pool size and the burned tokens.
However, when we write this article Pancakeswap is just about to change the lottery so we will not dig deep into the lottery feature on Pancakeswap.
Pancakeswap collectibles is a collection of NFT characters.
Each collectible, or rabbit, has a redeemable value in CAKE.
The price of an collectible varies.
Collectibles on BSC are maturing in what they can offer to investors apart from their artistic value. If you’ve ever taken part in the PancakeSwap lottery, your ticket was a BEP-721 NFT.