Pancake Swap xarid qiling.

PancakeSwap (CAKE) is the native utility and governance token of PancakeSwap, the largest decentralized exchange (DEX) on BNB Chain. Designed as an automated market maker (AMM), PancakeSwap allows users to trade BEP-20 tokens, provide liquidity, and earn yield — all with low fees and near-instant transaction finality.

Launched in 2020, PancakeSwap has evolved into a multi-functional DeFi hub. In addition to token swaps, the platform offers liquidity farming, staking, prediction markets, NFT collections, and an IFO (Initial Farm Offering) launchpad. This wide range of features has made it one of the most active platforms in the Binance ecosystem.

The CAKE token serves several purposes across the platform. It is used for governance, allowing holders to vote on key protocol decisions such as fee structures, new feature rollouts, and token emissions. CAKE also powers rewards in liquidity pools, staking programs, and community initiatives.

CAKE is currently priced at $1.95, with a market capitalization of $655,042,107. The token reached its all-time high of $43.96 on April 30, 2021. There are 335,441,237.66 CAKE tokens in circulation, out of a total supply of 348,929,107.87, with a maximum supply of 450,000,000.

As a composable DeFi platform, PancakeSwap is used by traders and liquidity providers seeking lower-cost, higher-speed alternatives to Ethereum-based DEXs. Its integration with BNB Chain provides low gas fees and access to a broad range of DeFi services. 

You can buy PancakeSwap via credit or debit card through Nexo, or choose from other supported payment methods for access. If you’re ready to get started, visit the Nexo Exchange and buy CAKE.