PancakeSwap- Before You Eat

about 3 years ago

I had prepared this post before and I think I will publish it now after the official announcement of #CUB so that some people can benefit from it here to understand how the Defi platforms work in general.

If you've been focusing on the DEX scene, you've likely seen that the "PancakeSwap" stage has arisen out of the blue and is clearly on its way to one of the largest decentralized exchange stages by volume.

Regardless of sending "PancakeSwap" only half a year ago, its development was absolutely critical, and even recently turned the tables on the "Uniswap" stage to turn into the largest decentralized exchange stage "DEX" as far as volume trading, and regaining the "Uniswap" stage again To the main point.

Currently, the regular PancakeSwap is between $ 700 million and $ 1 billion in daily exchange volume and has over 1,000 exchange combinations, and has a ton of ERC-20 Model Coins.

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However, what is behind this amazing development?

PancakeSwap is based on the smart blockchain from Binance:

Unlike most other decentralized exchanges, PancakeSwap is based on the "Binance Smart Chain" blockchain, which uses a sophisticated agreement tool known as "PoSA".

With blockchain money, digital currency moves are made in just seconds and, as a rule, it costs a few pennies to send.

This addresses two of the most serious issues facing the "Uniswap" phase today, namely high specific accusations and moderate exchanges.

PancakeSwap offers a connectivity innovation that enables a massive pool of ERC-20 resources to be exchanged on PancakeSwap as tokens, allowing customers to continue exchanging their first resources without any hindrance.

The capabilities of Blockchain Finance (BSC) have been effectively recognized by a few well-known blockchain projects.

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DeFi projects explode on blockchain money:

Nowadays, Ethereum is the most popular phase of "DeFi" decentralized money applications.

However, this is rapidly changing due to the rapid use of blockchain computing among designers.

Blockchain Binance is recognized by its assistance to some of the tasks that depend on the Automated Market Maker Agreement (AMM), which is an important part of the decentralized financing framework.

The PancakeSwap phase represents a defining moment in blockchain-based decentralized "DeFi" financing projects, as it prepares for a variety of other decentralized financing arrangements, including projects that support the productive farming tool, the metered component, and the model resource circulation.

By sending duplicates of these tasks on Blockchain Binance, these projects will be among the major projects that rely on the emerging blockchain Binance, and thus can profit by the rapid development of clients who are currently seeing the stage, with the large number of dynamic portfolios on Blockchain Binance. '' BSC '' whose number has increased significantly since December 2020.

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PancakeSwap and Binance support:

Despite the fact that “PancakeSwap” and “Uniswap” are very similar to the activity tool in that both can be obtained through “Metamask”, both rely on a similar system of liquidity resource and reward structure, which gives liquidity.

There is one important difference between the two, which is that PancakeSwap is controlled by Binance.

The "PancakeSwap" stage is one of the only decentralized DeFi applications that the digital money monster supports directly, giving it a huge advantage over "Uniswap" as far as advertising is concerned.

Given that Binance is the largest cryptocurrency exchange stage by volume, it tends to be argued that Binance has the desired market influence for any digital financial institution.

For PancakeSwap, that means a giant and practical opening up to one of the largest cryptocurrency networks on Earth, just as it does with future Binance items.

With Binance PR working primarily on the stage, it is not surprising that the stage has seen a lot of popularity among BNB clients due to the numerous time-limited training sessions split between Binance and PancakeSwap that focus heavily on offering additional bonuses to "BNB" holders and coin holders. Cake. "

Uniswap's experiences have been somewhat limited in merchandising, which has slowed its development recently, especially among less-affluent clients, who have been rejected from using the stage due to the large expenses.

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