Tools: PancakeSwap
PancakeSwap is a decentralized exchange (DEX) built on the BNB Smart Chain, allowing users to swap BEP-20 tokens, provide liquidity, farm yields, and participate in lotteries and NFTs — all without a centralized intermediary.
Get nowPancakeSwap is the go-to decentralized exchange (DEX) on BNB Chain, allowing users to trade BEP-20 tokens directly from their wallets. It uses automated market maker (AMM) models, meaning users trade against liquidity pools instead of an order book. Beyond simple token swaps, PancakeSwap offers liquidity pools (LPs) where users can deposit token pairs and earn a share of trading fees.
There’s also yield farming, staking pools (“Syrup Pools”), lottery games, NFT trading, and even perpetual trading.
With relatively low fees and fast transactions thanks to the BNB Chain, PancakeSwap became one of the largest and most active DEXs globally. While it’s heavily gamified and beginner-friendly, always watch out for token scams or impermanent loss if you’re providing liquidity.
Pros:
Low-fee, fast, and feature-rich DEX for BNB Chain users.
Cons:
Riskier environment compared to centralized exchanges and Ethereum mainnet DEXs.
