Market Data
About PancakeSwap
CAKE is the native utility and governance token of PancakeSwap, a leading multi-chain decentralized exchange (DEX) originally launched on the BNB Chain. Operating on an automated market maker (AMM) model, CAKE is used for governance voting, staking in Syrup Pools to earn rewards, and participating in Initial Farm Offerings (IFOs). In April 2023, the protocol transitioned to the 'Ultrasound CAKE' (v2.5) tokenomics model, shifting toward a deflationary system through reduced emission rates and regular weekly burns. The token incentivizes liquidity providers and facilitates various ecosystem features, including yield farming, lotteries, perpetual trading, and on-chain prediction markets.
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