The Ethereum network could barely keep up with the number of investors the market had attracted. This coincided with the peak of the DeFi market, which resulted in high gas prices and some congestion on the Ethereum network. The platform was launched in September of 2020, by anonymous developers with an apparent passion for pancakes. Īs of October 2, 2022, PancakeSwap gained over 1.9 million monthly users with a $4.1 billion Total Value Locked. Also, a total of 7,040,800 $CAKE (about $34 million) were burned from trading fees, gambling prediction, and lottery fees. The proposal is said to reduce CAKE emissions from the Syrup pools. In August 2022, PancakeSwap announced some adjustments to the Syrup pools rewards proposal. On the 6 of June 2022, Binance Labs, the venture capital and incubation arm of Binance, announced that it has invested in PancakeSwap’s utility and governance token ($CAKE), An investment, which is said to be part of Binance Labs’ mission to facilitate the next wave of global blockchain adoption by providing technology development, marketing, community support, and enterprise solutions for Web3 transformation. On February 17, 2021, PancakeSwap became the first billion-dollar project on the Binance Smart Chain. Since it runs on the binance Smart Chain, users enjoy a much lower transaction fee compared to Ethereum or Bitcoin. PancakeSwap has two native tokens which are, $CAKE and $SYRUP which are both BEP-20 standard tokens, the token model involves using CAKE as a utility cryptocurrency and SYRUP as an LP token which earns its users rewards for holding it. PancakeSwap Offers Its users access to lotteries, Digital collectibles ( NFTs), trading tournaments, and launch pads for ambitious developers. In symbol I suggest just putting "BNB", BSC and BNB have different colored logos so you'll be able to tell them apart still.PancakeSwap (launched in September 2020) is an automated market maker (AMM) and Decentralized Exchange (DEX) built on the Binance Smart Chain, that allows users to swap tokens (Buy and Sell), earn passive income by providing liquidity to the platform, stake coins to earn rewards and also get a chance to win some $CAKE tokens through a lottery. Name it "Binance Smart Chain" and copy this link,, into the "New RPC URL" textbox and type "56" in the "Chain ID" textbox. If you are using Metamask on a desktop you have to add Binance Smart Chain manually by clicking the network dropdown menu in the top right of your Metamask Wallet and select "Custom RPC". You can then send your Smart Chain to Metamask after setting up your Smart Chain Network (instructions below) or use it on Trust to buy whatever token you want on PancakeSwap. Send your BNB to Trust Wallet and tap on BNB then tap "More" then tap "Swap to Smart Chain and it will automatically swap it for you. Make sure to select "100%" and swap all your BTC for BNBĥ) Convert to Smart Chain within the Trust WalletĦ) Open PancakeSwap and buy what you want! 12%-20% slippage has been working for meĮdit: If you have a you can buy BNB there and send it to your Trust Wallet and convert to Smart Chain there, although there is a minimum transfer amount of. You will have to set up your KuCoin wallet first obviouslyģ) Buy the BNB/BTC pair. I am also in Texas and here's the EASIEST WAY FOR ME:Ģ) Send BTC to an app called KuCoin.
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