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

Rather of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses specifically on Binance Chain BEP20.By using an automated market maker (AMM), the DEX enables tokens to be exchanged with no need for order books. Source: coingecko.comTo handle the DEX governance system, another token called SYRUP was produced and these can only be acquired by staking CAKE tokens. 25 CAKE are released per block and redistributed to liquidity pools and the lottery for SYRUP holders.On the other hand, an embed burning mechanism consists of 9.1% of all the farmed CAKE tokens, 10% of the lottery tickets and 100% of the fees raised in its Initial Farm Offerings (IFO).

Rather of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses exclusively on Binance Chain BEP20.By using an automatic market maker (AMM), the DEX permits tokens to be exchanged with no need for order books. Source: coingecko.comTo manage the DEX governance system, another token called SYRUP was created and these can only be acquired by staking CAKE tokens. 25 CAKE are issued per block and rearranged to liquidity swimming pools and the lotto for SYRUP holders.On the other hand, an embed burning system consists of 9.1% of all the farmed CAKE tokens, 10% of the lottery tickets and 100% of the costs raised in its Initial Farm Offerings (IFO).

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