Is PancakeSwap legit?

Yes, PancakeSwap is a legitimate decentralized exchange built on the BNB Smart Chain. It has gained popularity due to its low fees and diverse DeFi offerings. The platform has undergone several audits and is widely used in the DeFi community.

What is PancakeSwap used for?

PancakeSwap is used for trading cryptocurrencies, providing liquidity, and earning rewards through yield farming and staking. It also supports NFTs and Initial Farm Offerings (IFOs). Users can access various DeFi services on a single platform.

What is PancakeSwap crypto?

CAKE is PancakeSwap’s native asset. It is used for rewards, staking, and governance. CAKE incentivizes users to participate in the platform’s DeFi activities. It also plays a role in various products within the PancakeSwap ecosystem.

What is slippage on PancakeSwap?

Slippage on PancakeSwap refers to the difference between the expected and actual price of a trade. It occurs when the market moves before a transaction is confirmed. Slippage tolerance settings can help minimize these price discrepancies during trades.