PancakeSwap
Launch App
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  • PancakeSwap Intro
  • Get Started
    • Create a Wallet
    • Get BEP20 Tokens
    • Using PancakeSwap without Centralized Exchanges
    • Connect Your Wallet to PancakeSwap
  • Click Here for Help
    • Troubleshooting Errors
    • General FAQ
    • Fixing Stuck Pending Transactions on MetaMask
    • Binance Academy Guide
  • Contact Us
    • Business Partnerships
    • NFT Market Applications
    • Customer Support
    • Social Accounts & Communities
  • The Kitchen Team
  • Roadmap
  • Brand & Logos
  • Products
    • Exchange
      • Token Swaps
      • How to Trade
      • Liquidity Pools
      • How to Add/Remove Liquidity
      • 📝Limit Orders
        • Limit Orders FAQ
    • Yield Farming
      • How to Use Farms
      • How to Use Farms with BscScan
    • 🍯Syrup Pools
      • How to Stake in Syrup Pools
      • Auto CAKE Syrup Pool
      • Syrup Pool FAQ & Troubleshooting
    • Lottery v2
      • How to Play Lottery v2
      • Lottery FAQ
    • 🔮Prediction
      • How to Use Prediction
      • Prediction FAQ
      • Prediction Troubleshooting
    • 🖼️NFT Market
    • 🖼️NFT Profile System
      • How to Set Up an NFT Profile
      • Teams
    • IFO (Initial Farm Offering)
      • How to Participate in an IFO
      • How to Participate in an IFO with BscScan
      • Contract Details
    • Analytics (Info)
      • Analytics
    • Voting
      • How to Vote
      • How to Vote with SafePal Wallet
  • Tokenomics
    • CAKE
      • CAKE Tokenomics
      • Controlling CAKE supply
  • Developers
    • Contributing
      • Codebase Overview
    • Bug Bounty
    • Smart Contracts
      • PancakeSwap Exchange
        • Factory v2
        • Router v2
      • Main Staking/Syrup Pool/MasterChef Contract
      • Auto CAKE Syrup Pool (CakeVault)
      • Prediction V2
      • Lottery v2
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On this page
  • Swapping/Trading
  • Liquidity Pools
  • Yield Farming
  • Initial Farm Offerings (IFOs)

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  1. Products

Exchange

PreviousBrand & LogosNextToken Swaps

Last updated 3 years ago

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PancakeSwap is an Automated Market Maker (AMM), and the Exchange is at the heart of PancakeSwap. PancakeSwap is the leading AMM on the BNB Smart Chain, and as statistics tell, the most popular Decentralized Exchange (DEX) ever!

The PancakeSwap Exchange offers several features that support decentralized trading:

Swapping/Trading

PancakeSwap lets users trade without the need to go through a Centralized Exchange. Everything you do on PancakeSwap is routed directly through your own wallet—no need to trust someone else with your coins!

Liquidity Pools

You can only swap tokens on PancakeSwap if there is enough liquidity for those tokens. If nobody has added much liquidity for the token or tokens you want to swap, it will be difficult, expensive, or impossible to do so.

Providing liquidity will get you LP Tokens, which will earn you rewards in the form of trading fees for making sure there's always liquidity for the exchange to use.

Yield Farming

Initial Farm Offerings (IFOs)

An Initial Farm Offering is an event that lets users buy into a limited-time offer to purchase new tokens. The IFO price is usually very generous.

Yield farming lets users that are providing liquidity earn CAKE rewards by locking their LP tokens into a smart contract. The incentive is to balance out the risk of that comes along with locking in your liquidity.

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