Get to Know the Newly Listed Pancake Swap on Indodax
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Get to Know the Newly Listed Pancake Swap on Indodax

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Get to Know the Newly Listed Pancake Swap on Indodax

Pancakeswap (Cake) Token - INDODAX Academy

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This week, PancakeSwap, CAKE crypto asset will be listed on Indodax. Open deposit will start on 12 August 2021 at 14:00 WIB and open trading will start on 13 August 2021 also at 14:00 WIB.

the script, lately there have been a lot of crypto assets with the title Swap. But, what exactly is Swap? Swap is a crypto-to-crypto exchange in a Blockchain wallet. The exchange allows users to exchange crypto assets for other crypto assets without leaving their Wallet.

With Swap, users can exchange crypto assets for other crypto assets directly. All you need to do is enter the amount you want to exchange and the trading pair you want and the token swap service will instantly process and convert your coins. With this form of transaction, you only need to pay a one-time transaction fee

Still confused? Don’t worry, because before buying, it is important for you to find the background of a project so that you can have the most suitable crypto asset. And this time, Indodax Academy will share and you can read this article to get to know more about CAKE.

What is PancakeSwap?

PancakeSwap is an automated market maker (AMM) — a Decentralized Finance (DeFi) application that allows users to exchange tokens, provide liquidity through and earn fees as an offset.

It was launched in September 2020 and is a decentralized exchange for exchanging BEP-20 tokens on the Binance Smart Chain. PancakeSwap uses an automated market maker model where users can sell liquidity pools. This pool is filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens as an imbalance.

These tokens can later be used to reclaim part of the pool, as well as part of the trading fees. These LP tokens are known as FLIP. PancakeSwap also allows users to plant additional tokens such as CAKE and SYRUP. On the farm, users can deposit LP tokens and get rewarded with CAKE.

PancakeSwap allows users to trade BEP20 tokens, provide liquidity for exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens from other projects.

Who Founded PancakeSwap?

PancakeSwap is a Decentralized Exchange (DEX) based on Binance Smart Chain launched by an anonymous developer with a clear passion for pancakes.

What Makes PancakeSwap Unique?

PancakeSwap uses an automated market maker model, meaning there is no order book and liquidity pool to use as a guide. A user can earn by becoming a liquidity provider; by adding their tokens to the liquidity pool, they can collect LP tokens and stake their CAKE for rewards. They can also try them with non-exchangeable lotteries and tokens.

The PancakeSwap CAKE token is a BEP20 token launched on the Binance Smart Chain. The main function of CAKE is to provide incentives for providing liquidity to the PancakeSwap platform.

Users can stake their tokens for rewards, which is done by depositing Liquidity Provider tokens and locking them in. This is known as farming and is rewarded by the system with CAKE tokens. Tokens cannot be staked with zero elimination time. CAKE gives users the opportunity to invest and improve the experience in the future but comes with risks. Users can also win non-exchangeable tokens which can be exchanged for CAKE or stored in the wallet.

Crypto Asset CAKE

24-hour trading volume of $381,127,552 USD, before Indodax. The current CoinMarketCap ranking is #31, with a live market cap of $3,776,375,948 USD. It has a circulating supply of 207,236,901 CAKE coins and the max. supply is not available.

How to Buy Pancakeswap (CAKE) on INDODAX

After recognizing PancakeSwap (CAKE), you can start investing  by buying this crypto asset on INDODAX easily and safely.

You can access INDODAX via the INDODAX Mobile App which can be downloaded on the App Store or Google Play Store, or by visiting the INDODAX website.

Here is how to buy the PancakeSwap (CAKE)  crypto asset on INDODAX:

  • Register at INDODAX if you are not yet registered as an INDODAX Member or log in to your INDODAX accountThen, make a deposit by reading how to make a deposit below
  • After successfully making a deposit and the balance has entered your INDODAX account, visit the INDODAX market
  • Search for Pancakeswap in the IDR (Cake to IDR) market, and click to visit the crypto asset page
  • On the crypto asset page, determine and enter the desired balance and purchase price for Pancakeswap, or buy instantly (at the current price)
  • Next, wait for the price to increase for some time
  • Once the price increases, the asset can be sold at a higher price with the Instant method
  • If selling using the Limit method, a sell order can be placed after purchasing the asset and make sure the sell number entered is higher

That’s the interesting information about PancakeSwap (CAKE) which is present at INDODAX.

You can also find out the latest information by reading the latest updates from the crypto coin rating on INDODAX Academy and to gain a deeper understanding of the latest crypto terms dictionary you can also read it here.

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Apart from that, INDODAX also offers features other than trading, such as INDODAX Earn crypto which allows you to lock crypto assets and get rewards in the form of interest, as well as INDODAX OTC for large crypto transactions more safely and personally.

Therefore, for a brighter future, let’s start investing in crypto assets now at INDODAX and if you are interested in INDODAX OTC services, you can click the banner above.

Come on, invest in crypto assets in INDODAX for #FutureAssets now!

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