Based on Binance Smart Chain (BSC), PancakeSwap is well known for its variety of unique functionalities and properties to bring you an outstanding trading experience for the users. This platform – https://immediate-edge.software/ benefits by offering you low transaction charges and speedy verifications. It also makes sure that all trades are performed rapidly.
Furthermore, it received success rapidly because it does not usually go through various displacement issues such as front-running which makes it more secure and safer to use than any other AMMs on blockchains that have comparatively sluggish block time.
In addition to this, PancakeSwap also brings you a wide range of subordinate features. Some of them offer extra outcomes to CAKE token holders. If you are confused about crypto assets trading, use authentic platforms and software like Kraken, Gate.io.
Yield Farms
PancakeSwap brings its users various opportunities to earn extra yield just by staking or depositing supported liquidity provider (LP) tokens in its yield farm. By contributing to the yield farm, users will have a chance to earn a CAKE token on their liquidity provider (LP) tokens. This comes on top of the outcomes produced by the transaction charges.
The accurate annual percentage yield (APY) is different for every farm but can be as enhanced as hundreds of percentages. But then again the users will have to factor the possible impermanent or transient losses into their entire yield.
Lottery V2
Not all exchange platforms offer their users’ a lottery feature. PancakeSwap is rare among decentralized exchanges (DEX) as it offers lottery features on its platform. This lottery feature facilitates users and allows them to make purchases of lottery tickets to take down a huge pot of CAKE tokens.
A single lottery ticket is approximately 5 dollars in CAKE per the recently upgraded charges but the users can get the opportunity to get up to a 4.95% discount by buying 100 tickets at once. A sum of 40 percent prize pool is assigned to the users who can match all six digits on their lottery ticket and eventually they win the prize which is then shared equally among all the winners.
PancakeSwap vs. SushiSwap vs. UniSwap
In today’s crypto world, there are majorly three crypto exchanges that are winning the world. These three are quite similar as they all have a resembling core design.
- UniSwap
- SushiSwap
- PancakeSwap
UniSwap
This is the original decentralized finance (Defi) protocol developed on Ethereum. It has become a modern-day standard and is quite simple to use. It is convenient for cryptocurrency trading and uses ERC-20 tokens and ETH pairs.
SushiSwap
This is a public governed UniSwap bridge that has emerged and transformed into a decentralized finance (Defi) hub. This exchange platform provides token exchanges, farming, and crypto-asset lending and borrowing.
PancakeSwap
This platform is a UniSwap clone created on Binance Smart Chain (BSC) to offer its users speedy and extremely low transaction charges. This exchange protocol trades in BEP-20 tokens and works as a bridge between BSC and Ethereum.
All these three platforms allow decentralized exchange, public governance, yield farming, and liquidity provider (LP) chances and opportunities, only SushiSwap, and PancakeSwap offer rewards and prizes to token holders who stake or deposit their tokens.
Is PancakeSwap Platform Better Than UniSwap Platform?
When people hear about these exchange platforms, they wonder whether PancakeSwap is better than UniSwap or other rival exchange platforms as in SushiSwap. If you want a one-word answer, it is a no. but there is a long and proper explanation to this simple and short answer. There is a lot of liquidity present on the platform of PancakeSwap which makes it an amazing decentralized exchange (DEX).
But then again, since PancakeSwap is created on Binance Smart Chain, and Binance Smart Chain is not a completely decentralized platform, we shall not call it a pure decentralized exchange (DEX). Also, not being entirely decentralized have its benefits.
If we compare PancakeSwap to UniSwap, it is way more speedy and inexpensive than UniSwap and both have an equal level of liquidity. The only problem that arises is if people want to trade ERC-20 tokens, they will require to work on Binance Bridge which comes from Ethereum. Depending on Ethereum, the gas charges may increase and probably be expensive for some people. Those who already own BEP-20 tokens can have the best experience with PancakeSwap.
Conclusion
If we consider the young age of Binance Smart Chain, this exchange platform has gained a lot of popularity within no time and has left behind various other exchange platforms. If Binance’s decentralized applications (DApps) keep growing and pulling in more creators and users it will put up a stronger fight against all rival exchange platforms.
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