PancakeSwap (CAKE) gains 444% as its daily DEX volume surpasses $90M

PancakeSwap (CAKE) gains 444% as its daily DEX volume surpasses $90M

PancakeSwap’s DEX volume has grown by 350% in six weeks, causing its CAKE token rally 444% and the platform appears on track for even larger gains. Launched in September 2020, PancakeSwap is a decentralized exchange (DEX) running on Binance Smart Chain. Instead of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses exclusively on Binance Chain BEP20.By using an automated market maker (AMM), the DEX allows tokens to be exchanged with no need for order books. This is quite similar to Uniswap's liquidy pools which are automated by smart contracts.In addition to its....


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