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What is CAKE token used for?

CAKE is the governance token and inflationary token of PancakeSwap. PancakeSwap is a decentralized exchange on Binance Smart Chain.

What is CAKE


CAKE is the governance token and inflationary token of PancakeSwap.

CAKE token is used for


  • Governance
  • Farming

How could value accrue to CAKE token?


Services

Used for example for lottery on Pancakeswap.

Potential

  • The exchange aims to in the end burn more tokens than are minted through inflation.

What is PancakeSwap?


PancakeSwap is a decentralized exchange on Binance Smart Chain.

How it works


Users can swap tokens, provide liquidity and bridge tokens from other chains.

PancakeSwap does not have a hard cap and around ~591 000 tokens are issued per day.

The inflation provides incentives like yield farms and a lottery.

The exchange has integrated a lot of features that are provided by third parties to Ethereum DEXes.

  • Charts
  • IFO
  • Profiles
  • Lottery
  • Prediction (derivatives)


Token issuance


Total supply: No hard cap

Burn mechanisms:

  • 0.05% per trade
  • 100% emission to DEV address.
  • 100% raised in IFOs
  • 100% for Profiles, NFTs
  • 20% for lottery tickets
  • 42,000 CAKE/day
  • 3% Prediction markets rounds
  • 2% Auto Yield Pool

Docs


Similar projects


Token price


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