Have you heard of Cake coin?
CAKE is a native token of the Pancake Swap decentralized exchange (DEX). The DeFi token is used as a reward and for governance by the platform's Liquidity Providers (LP), guaranteeing access to exclusive products and services.
PancakeSwap is the name of the decentralized exchange (DEX) that runs within the Binance Smart Chain (BSC) Blockchain network, whose native tokens are CAKE. Because it emerged within a DEX, its CAKE token is classified as a DeFi token, since it has specific functions that help keep the system running.
This is yet another protocol that seeks to innovate in the solutions offered by existing DEXs. Like other decentralized trading protocols, it uses an Automated Market Making (AMM) mechanism, which can carry out exchanges between investors without the need for a platform to mediate the operations; everything happens through the creation of a liquidity pool by the network users themselves.
Its CAKE token came as a means of enabling this new automated market, with specific functions such as staking, farming, purchasing specific BSC collectible NFTs and even creating a kind of lottery within the exchange. In addition, one of the main functions of CAKE is the governance it grants to token holders, proportional to the amount of tokens the user holds.
Source: https://coinext.com.br/criptomoedas/pancakeswap
I have always liked this currency and it has never disappointed me! It is always at a good valuation. (Remember, this is not an investment recommendation and always research before buying)
And do you know the good news!? It is listed on Binance.
Click to buy now
👉🏽 $CAKE
