You can also connect your Trust Wallet to PancakeSwap through the Trust Wallet mobile browser or on a desktop. If you choose to use MetaMask, we suggest you check out our Connecting MetaMask with BNB Chain guide. Yes, it is, but the architecture of BNB Chain is such that you can use MetaMask to interact with BNB-based DApps. Click on it, and you’ll be met with a few options: MetaMask, Trust Wallet, WalletConnect, Binance Chain Wallet, and other options.īut wait, we hear you say, isn’t MetaMask an Ethereum wallet? You’ll notice if you visit that many features are inaccessible until you click on Unlock Wallet. The biggest SYRUP pool is simply for CAKE, where you can stake your CAKE to earn even more CAKE! But there are many more tokens you can earn by staking CAKE, so be sure to keep an eye on the SYRUP pool page. From there, you can stake your CAKE and earn other tokens through special staking pools. So you’ve deposited some funds to receive LP tokens, and you’ve used them to farm CAKE.
The rewards don’t end here, however! You can earn even more by staking your CAKE in SYRUP pools. Which LP tokens can you deposit? Well, the list is quite long, but here’s a taster of some of the most popular ones: On the farm, you can deposit your LP tokens, locking them up in a process that rewards you with CAKE. Farming and Staking on PancakeSwapīut wait, there’s more! PancakeSwap also allows you to farm its governance token – CAKE. BETH and ETH? You’ll get BETH-ETH LP tokens. You’ll find these LP tokens in several flavors – if you added, say, BUSD and BNB to the pool, you’ll receive BUSD-BNB LP tokens in return. There are also other features we’ll cover later. So, in short, you can trade BEP-20 tokens, or add liquidity and earn rewards.
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They can use those tokens to reclaim their share, plus a portion of the trading fees. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. Those pools are filled with other users’ funds. Instead, you trade against a liquidity pool. That means that while you can trade digital assets on the platform, there isn’t an order book where you’re matched with someone else. PancakeSwap uses an automated market maker (AMM) model. įamiliar with Uniswap or SushiSwap? Then you’ll have no issue grasping PancakeSwap – they are quite similar in their core design.
PancakeSwap is a decentralized exchange for swapping BEP-20 tokens. In this article, we’ll take a look at PancakeSwap – a decentralized exchange built on BNB Chain. As one of the earliest blockchains supporting smart contracts, it has a sprawling community of users, developers, and tools for building powerful decentralized applications. The bulk of this activity has been concentrated on the Ethereum blockchain. In the latest wave of DeFi protocols, we’ve seen numerous platforms emerge that allow users to stake their funds in return for the protocol’s tokens. The food-based farming craze has captivated participants in the crypto space for months. It looks a bit like Ethereum’s SushiSwap (community governance, the ability to farm liquidity provider tokens), but also incorporates many other features that let you earn rewards. PancakeSwap is a BNB Chain-based DEX launched by anonymous devs with a penchant for breakfast foods and rabbits. Another food-themed DeFi protocol? You know it.
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