PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC), allowing users to trade cryptocurrencies and tokens in a decentralized manner. The platform is similar to popular DEXs like Uniswap, but with faster transaction times and lower fees due to its integration with the BSC. PancakeSwap uses an automated market maker (AMM) model, where users can provide liquidity and earn fees by staking their tokens. The platform also has a native token called CAKE, which is used for governance and incentivizing users through staking and farming.

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