$CAKE **PancakeSwap (CAKE)** is the native cryptocurrency of the decentralized exchange **PancakeSwap**, which operates on the **BNB Chain (Binance Smart Chain - BSC)**.

### **Features of CAKE**

- **Purpose:** It is used for staking, yield farming, and governance within the PancakeSwap ecosystem.

- **Use in DeFi:** Users can earn CAKE by providing liquidity to pools, participating in lotteries, and staking it in "Syrup Pools".

- **Low fees and high speed:** Being on the BNB Chain, transactions with CAKE are fast and inexpensive compared to networks like Ethereum.

### **Use Cases**

1. **Staking:** Holders can lock their CAKE tokens to earn more CAKE or receive other rewards.

2. **Yield Farming:** Users can provide liquidity on PancakeSwap and receive rewards in CAKE.

3. **NFTs and Lottery:** PancakeSwap has a lottery where prizes can be won in CAKE, as well as an NFT marketplace.

4. **Governance:** CAKE holders can vote on platform development proposals.

### **Tokenomics**

- PancakeSwap implements a **token burn** mechanism to reduce supply and control inflation.

- The issuance of CAKE is constant, but measures have been taken to decrease it and maintain the token's value.

CAKE has been one of the most popular cryptocurrencies within the DeFi ecosystem, although its price has fluctuated depending on the adoption of PancakeSwap and the market in general.