Cake Coin Price
What is PancakeSwap (CAKE) ?
PancakeSwap token (CAKE) is a BEP-20 token, used in the PancakeSwap ecosystem. PancakeSwap is a decentralized exchange (DEX) built on Binance's Smart Chain. It enables the trading of BEP-20 tokens and employs an automated market maker (AMM) mechanism to offer liquidity and let users generate revenue from their cryptocurrency. CAKE was introduced to stimulate the liquidity provision to the platform. More on CAKE coin price will be mentioned later in this article.
PancakeSwap employs an automated market maker (AMM) approach in which users trade against a pool of liquidity. These pools are stocked with cash contributed by users. They deposit them into the pool in exchange for liquidity provider (or LP) tokens. They can recoup their share as well as a fraction of the trading costs by using those tokens. The LP tokens are known as FLIP tokens. Users may also farm extra tokens – CAKE and SYRUP – on PancakeSwap. Users may put LP tokens on the farm, which will be locked up in a process that will reward them with CAKE. Users can stake CAKE tokens to acquire SYRUP, which will serve additional purposes as governance tokens (and as tickets in a lotteries). The CAKE price and Syrup exchange rate is, however, subject to change.
CAKE Coin Price
CAKE coin price or PancakeSwap price, like any other token, changes in real time and needs monitoring for better understanding and investment. You can check CAKE coin live Price here. The CAKE price started off at $0.0002318 at first launch in September 2020 to a high of $21.41 in February 2021; highest price reached was $44.18 on 30 April 2021 (at the time for writing). There are many entities coming up with CAKE coin price prediction in the future, but investors will have to consider several factors in order to make investing decisions.
CAKE Token Address (BSC): 0x0e09fabb73bd3ade0a17ecc321fd13a19e81ce82
Founders of PancakeSwap
The creators of PancakeSwap have chosen to remain anonymous. The protocol is only known to employ BCS technology and to be certified by Certik.
CAKE has the buyback & burn mechanism, which significantly affects the Tokenomics of $CAKE token. Through this buyback & burn, CAKE token value is backed and the project itself is promoted by distributing rewards. What is interesting is that CAKE token max supply is infinite; there is no ceiling for the supply of CAKE tokens, as the token is used a lot in every product in the PancakeSwap ecosystem. The amount of CAKE minted every day is about ~530,000 CAKE which is distributed for use as reward in several products. For more information, you can see CAKE coin whitepaper here.
What Is PancakeSwap and How Does It Work?
The protocol has numerous improved features that distinguish it from other DeFi protocols. While Ethereum has been the DeFi ecosystem's pioneer, some of its finest features and functionalities have been overlooked. As a result, customers began to switch to PancakeSwap, which delivers superior overall performance. Its features include the ability to exchange BEP-20 tokens, connect with Ethereum-based dApps and BSC-based dApps, farming, staking, and lottery, and a community-governance network.
Pancakeswap currently has 7 main products, including: PancakeSwap, Farms, Syrup Pools, Initial Farming Offering (IFO), Lottery, Prediction, and Team battle.
Use of a Wallet
To utilize PancakeSwap and retain your CAKE price, you must first set up your wallet. You can use a Binance Smart Chain wallet or the most popular Ethereum and ERC20 standard wallet, Metamask. Although Metamask is an Ethereum wallet, it may also be used for BSC-based applications. To have access to new protocol capabilities, users will need to unlock their wallets.
Users can provide liquidity to the network by depositing their tokens in permissionless liquidity pools (LPs). In exchange, they receive FLIP tokens, which are PancakeSwap's liquidity provider tokens. As the pool's overall value grows, the value of individual tokens climbs as well. The permissionless liquidity pools enable users to profit without having to exchange their assets directly. Users' yields vary from 23.52 percent to 378.19 percent on average. Notably, these incentives are distributed using the platform's native CAKE currency.
CAKE token staking is also popular among users. Normally, users receive LP tokens as an incentive for contributing liquidity to the pools. Then there are numerous alternatives:
Receiving CAKE through LP staking; Staking CAKE to earn even more CAKE; Staking CAKE to acquire tokens from other projects. Current CAKE staking price can be viewed on any TradingViews.
Users may also harvest CAKE tokens on PancakeSwap. Farming is the process of getting the most out of a token or cryptocurrency. There are a few common PancakeSwap choices to select from:
BNB LP – CAKE
BNB LP – BUSD
ETH LP – BETH
LP USDT – BUSD
USDC – BUSD LP
DAI – BUSD LP
DAI – BUSD LP
DAI – BUSD LP
DAI – BUSD LP
DAI – BUSD
BNB LP – TWT
After you've deposited your LP tokens, you may lock them up and begin farming. You will receive CAKE in return. Learn more and try your CAKE staking and farming on ARKEN for better understanding.
Pools of Syrup
The major yield aggregators where you may bet your CAKE are Syrup Pools. You may also use CAKE to participate in Pancake Bunny Pools, which are new SYRUP pools where you can win BUNNY tokens. The main Syrup Pool, in particular, is for CAKE. Many PancakeSwap users deposit tokens there in order to obtain CAKE.
Lottery players can take part in a lottery session on PancakeSwap. These sessions run six hours and cost ten CAKE tokens per ticket. The ticket assigns a participant a random combination of four digits ranging from 1 to 14. The prize is equal to half of the lottery pool. The numbers must match all four combinations in the precise sequence to win. Even if you lose, you can still win prizes if two or more of your numbers match some of the ticket numbers.
Why Should You Buy PancakeSwap?
What Makes PancakeSwap So Special? PancakeSwap, in addition to improving features similar to other food-themed protocols, provides an excellent user interface and choices such as NFT awards, lottery, farming, staking, and much more. MetaMask, Trust Wallet, TokenPocket, MathWallet, and WalletConnect are all supported. Furthermore, PancakeSwap is a secure decentralized exchange to utilize, as well as having a straightforward operating model. The project can keep creating new products, resulting in adding CAKE token value. Initial Farm Offering (IFO) PancakeSwap has an intriguing feature: it allows you to start your own projects in the BSC community. Users may launch their tokens in the most active pools and get incentives for it by utilizing the power of yield farming. The procedure is straightforward. To begin, developers can purchase Binance Coin (BNB) and CAKE tokens prior to the IFO sale procedure. Then, by combining CAKE and BNB liquidity, they obtain CAKE-BNB LP tokens. Second, the sales process begins. To purchase the IFO tokens, the developers must contribute CAKE-LP tokens. Following the sale, customers can claim the purchased tokens as well as any unspent money. Non-Fungible Tokens (NFTs) You may also win non-fungible tokens using PancakeSwap (NTFs). NFTs are digital representations of one-of-a-kind things. They can include digital albums, figurines, or precious metal representations. There is a page in the protocol for NFT winners. Because the winners are picked at random, visitors should keep an eye on the website. Notably, you may keep your NFT in your wallet or exchange them for CAKE.
PancakeSwap Use Case
The key use case of CAKE is for farming. First, you must link your MetaMask browser wallet or WalletConnect before you can utilize PancakeSwap. Although MetaMask is an Ethereum wallet, the Binance Smart Chain (BSC) architecture allows decentralized apps (dApps) to interact with Ethereum wallets like MetaMask. The "Exchange" part is utilized for token swaps, whereas the "pools" area is where fees for liquidity provision are collected. Finally, yield farming takes place in the "farming" part.
PancakeSwap Yield Farming
Users may deposit money in return for staking rewards using Yield Farming. Users can enhance yield by following the greatest interest rates in various sections of the DeFi ecosystem by combining and using rewards in several protocols. In short you get CAKE as rewards from farming, and use CAKE tokens to stake and earn more CAKE!
Providing PancakeSwap with Liquidity
FLIP coins are PancakeSwap liquidity provider (LP) tokens. FLIP tokens come in a variety of shapes and sizes, depending on the token pair supplied to a pool. Farming on PancakeSwap allows users to lock their LP tokens and gain additional prizes. Users can lock CAKE tokens to acquire SYRUP tokens after investing funds into a PancakeSwap liquidity pool, receiving LP rewards, and utilizing them to collect Pancake tokens (CAKE).
Historical Data for Cake Coin Price
|Nov 30, 2022||$3.96000||$4.00000||$3.90000||$3.90000||$33,249,645||$626,258,015|
|Nov 29, 2022||$3.88000||$4.00000||$3.88000||$3.93000||$28,539,518||$612,200,345|
|Nov 28, 2022||$3.88000||$4.02000||$3.87000||$3.90000||$28,206,907||$607,629,435|
|Nov 27, 2022||$4.02000||$4.05000||$3.85000||$3.87000||$24,394,632||$598,378,695|
|Nov 26, 2022||$4.06000||$4.06000||$4.01000||$4.02000||$26,654,252||$602,739,880|
|Nov 25, 2022||$3.95000||$4.11000||$3.94000||$4.06000||$27,810,073||$594,099,793|
|Nov 24, 2022||$3.99000||$4.02000||$3.93000||$3.93000||$31,775,204||$584,267,373|