PancakeSwap (CRYPTO: CAKE) was introduced just a year ago this month, but it has quickly became the largest automated crypto market maker -- a provider of trading liquidity -- on the Binance Smart Chain (BSC). PancakeSwap users have staked (meaning users are holding their crypto in digital wallets) more than $5.6 billion on this decentralized exchange (DEX), compared to a market value of just $4.983 billion. That suggests the token is a bargain compared with peers such as Uniswap , which has a total value locked ( TVL ) -- a measure of how much is staked --that outpaces its market cap by a factor of 3.3.
Unlike many other cryptocurrencies, there's way more to PancakeSwap than simply buying and holding the tokens. Let's look at why it should be a top choice for coin holders.
Image source: Getty Images.
For further details see:
Why PancakeSwap Is a Top Crypto to Buy Now