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What is pancakeswap

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what pancakeswap is

what pancakeswap is According to official news, pancakeswap is a decentralized exchange developed by the well-known Cryptocurrency trading platform MDEX.COM. Its goal is to become a one-stop platform that allows users to participate in the DeFi ecosystem and other applications with low sliding points and zero transaction fees According to the official website of the project, “Currently, more than 4 million users of PancakeSwap have entered the DeFi field through this website.” It is understood that the project is led by Bing, a former engineer at Coin Security

What does Pancake mean?

According to the official announcement, Pancake Swap’s token name is BAYC (White Bear), and its trading volume exceeds 10000 within an hour after its launch However, as there is currently no specific issuance schedule, most investors do not have a deep understanding of the project or directly participate in it. Instead, they view it as an investment target company and an investment vehicle to hold these assets. And this’ fund pool ‘is called’ Liquidity Mining ‘. Simply put, it is to store some Cryptocurrency such as Bitcoin and Ethereum in a wallet to get rewards. This mode is similar to the traditional centralized exchange, which allows customers to buy and sell these digital currencies through smart contracts and earn profits. But the problem is that this operation is not a true blockchain game. In fact, many public chain based DeFi applications currently use this type of protocol, but they also adopt this method to achieve a decentralized financial system. So what exactly is “liquidity mining”? This article will introduce the principle of the project from the following four aspects:

The first point is to transfer all remaining parts to the Panc section before release, and then use these tokens to exchange for BNB as ecological reserves; Secondly, if a user needs to sell BNB after pledging, they can also retrieve their own token; Third point: When you receive a newly cast BNB, it will be automatically destroyed until it becomes more stable To summarize, “We cannot yet provide anyone with security guarantees like Bitcoin.” Before the official release, do not trust tokens that promise to release value in a short period of time. To become a long-term coin holder, it is best to choose a token that you value. For those who want to speculate, the risk is high because no one is willing to invest a large amount of money into this market. Of course, if you have a free order, you can wait a few weeks before buying.

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