$CAKE CAKE is the native utility token of PancakeSwap, a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). PancakeSwap allows users to trade cryptocurrencies, provide liquidity, and earn rewards through yield farming and staking. CAKE is primarily used for governance, allowing token holders to vote on proposals related to the platform’s development. It can also be staked to earn rewards or used to participate in liquidity pools. Since its launch, CAKE has become a popular token within the BSC ecosystem due to PancakeSwap’s user-friendly interface and low transaction fees, competing with Ethereum-based DEXs like Uniswap.