Pancakeswap Review By Wootfi . Hello Wootfi visitors today we come with another defi article about Pancakeswap one of the defi project . Please note this article is not investment advice only written for educational purposes . Do your own research before investing your time or money at Pancakeswap .
About Pancakeswap
PancakeSwap is an automated market maker (“AMM”) that allows two tokens to be exchanged on the Binance Smart Chain. It is fast, cheap, and allows anyone to participate. Then after breakfast, This is aiming to be the #1 liquidity provider on Binance Smart Chain and the home of new, innovative gamified farming mechanics, many of which we suspect will make it to other chains and beyond.
PancakeSwap came onto the scene in September of 2020 and has quickly expanded its set of features and services to rival those offered by most decentralized exchanges and some centralized exchanges. In the article, I’ll be giving you a good idea of all you need to know before you use the exchange.
Basic Details About PancakeSwap Review
| Project | Overview |
|---|---|
| Project Name | PancakeSwap |
| Blockchain Network | Polygon |
| Project Total Balance | $28.05M |
| Project Type | Decentralized Finance |
| Contract Address | 0xee8f6ae101dD7048Dd8484EEaABbC1efD352eaAe |
| Twitter Page | Click Here To View |
| YouTube Channel | Click Here To Visit YouTube Channel |
| Official Website | Click Here To Visit Website |
Vision
PancakeSwap has managed to hold on to the title of ‘biggest DEX on the BSC chain’ this long for one reason- its ability to offer a wide range of financial products and services in one interface. Well, most of this is possible because of the diligent work done by its team of developers behind the scenes. In just under two years, PancakeSwap has managed to extend its range of services from simple token swaps to an on-chain derivatives market. A list of its current set of services are:
- Spot Trading
- Yield Farming
- Syrup Pools (Staking)
- Prediction Market
- Lottery
- Perpetual Futures Trading
- IFO- Initial Farm Offering
Features Of PancakeSwap Defi Project
Pancakeswap Team Available At Several Social Media Platform
GoodGhosting team available at twitter , Youtube , Facebook , Discord & Github . You Can follow them to your favourite social media and get update with their latest announcement .
Support & Faq Page Available
Pancakeswap team available at email as well as faq page available at their website . If you need any help you can contact them or visit their faq page .
Safety & Security
PancakeSwap has been audited by cybersecurity firm CertiK, so users can be assured that it is a relatively safe and reliable exchange to trade on. It is important to note that there is always the risk of a hack occurring, such as when PancakeSwap was down after experiencing a DNS hijack that occurred in March 2021. This risk is quite high as, according to the blockchain data company Chainalysis, half of all the cryptocurrency-related hacks in 2020 targeted DeFi.
Thankfully, as PancakeSwap is a non-custodial DEX, it never holds your assets directly and so any hacker will not be able to steal anything from you. However, you should still be aware of any scamming attempt as there have been incidences of scammers messaging users advertising ‘50 BNB giveaway airdrops’ or ‘400 CAKE airdrops’
FAQ of Pancakeswap Review
What is Pancakeswap ?
Pancakeswap helps you to make saving easy, fun and rewarding. They create social savings games that use blockchain technology to reward dedicated savers. We are all about improving your financial habits by helping you to save and invest. We envision a world where building wealth is simple, safe and everyone can enjoy it!
Which digital currencies Pancakeswap support
Pancakeswap currently support a number of digital stablecoins which are pegged to the US Dollar. These include DAI, USDC, USDT, cUSD and others. Company also support stablecoins pegged to other currencies, such as cREAL, cEUR, agEUR and jEUR. In the future, Goodghost aim to offer the ability to save and earn in most international currencies.
But that’s not all. Pancakeswap also support saving in volatile assets such as Ether (ETH), Wrapped Bitcoin, WMATIC, CELO and many more. With Pancakeswap v2 are able to support virtually all ERC-20 tokens!
What other applications or services does Pancakeswap integrate with?
Pancakeswap integrates with: Celo and Polygon (Matic).
What languages does Pancakeswap support in their product?
Pancakeswap supports these languages: English.
Can I access Pancakeswap from any country?
Yes, Pancakeswap welcome savers from anywhere in the world. Pancakeswap are a permissionless platform built on top of the open and decentralized Ethereum network . This allows for any individual to directly interact with Pancakeswap, irrespective of their country of residence or nationality. Nevertheless, make sure you are not breaching any local laws, or our Terms of Service, when interacting with platform.
