What is PancackeSwap?

PancakeSwap is a Uniswap fork. Uniswap and PancakeSwap are both decentralized exchanges. However, Uniswap is on Ethereum, while PancakeSwap is on the BNB chain (an Ethereum fork).

Staking is a process where traders lock up their tokens to earn income. Staking acts as collateral for the staker. After which, the staker typically gains some sort of privilege (e.g., more tokens).

What is the CAKE token?

The PancakeSwap token CAKE was first introduced on Binance Smart Chain and is a BEP20 token. The primary purpose of CAKE is to boost the supply of liquidity to the PancakeSwap platform. By depositing and locking Liquidity Provider tokens, users can stake their tokens to earn income.

Is PancakeSwap better than Uniswap?

Compared to Pancakeswap, Uniswap offers a much wider variety of tokens for trading. You can also trade non-fungible ERC-721 tokens, using Uniswap. On the other hand, Uniswap charges a commission of 0.3% per deal while PancakeSwap charges 0.25% per trade.