Cake Coin $CAKE is the native cryptocurrency of PancakeSwap, a decentralized exchange (DEX) built on the BNB Smart Chain (BSC). Launched in September 2020, CAKE is used for liquidity provision, yield farming, staking, governance, and other DeFi activities on the platform.

Key Features of CAKE:

Liquidity & Trading

PancakeSwap operates as an automated market maker (AMM), allowing users to trade BEP-20 tokens without intermediaries.

Users can provide liquidity in pools and earn liquidity provider (LP) tokens.

Staking & Yield Farming

CAKE can be staked in Syrup Pools to earn passive income.

Yield farming allows users to deposit LP tokens and earn CAKE rewards.

Governance

CAKE holders can participate in voting on proposals, shaping the future of PancakeSwap.

Lottery & NFTs

Users can buy lottery tickets with CAKE for a chance to win rewards.

PancakeSwap also has an NFT marketplace.

Deflationary Mechanisms

PancakeSwap regularly burns CAKE tokens to control supply and maintain value.