PancakeSwap is defined as an Automated Market Maker (AMM), known as a decentralized finance (DeFi) application that allows users to exchange tokens, provide liquidity via farming, and earn fees in return. Launched in September 2020, it is a decentralized exchange created for swapping BEP-20 tokens on the Binance Smart Chain.
PancakeSwap uses an automated market maker model that allows users to trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return. These tokens can later be used to reclaim their share of the pool, plus a portion of the trading fees. The LP tokens are known as FLIP. Additionally, PancakeSwap allows users to farm its native CAKE and SYRUP tokens. In the farming system, users can deposit their LP tokens and be rewarded with CAKE.
PancakeSwap enables users to exchange BEP-20 tokens, provide liquidity to the 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.
PancakeSwap is known as one of the leading decentralized exchanges with the best trading volume in the market. It operates on the Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. The trading fees are also among the lowest compared to other top decentralized exchanges, which means double savings.
Unlike centralized exchanges, PancakeSwap does not hold your money when you trade; it offers the service of being 100% in control of your own cryptocurrency. It helps to earn CAKE and other tokens with high interest rates. CAKE holders are currently earning millions of dollars worth of free tokens from major projects. New projects join the party every day, providing more earnings over a longer period.
Since PancakeSwap is built on open-source software, all smart contracts can be viewed by anyone with maximum transparency.

PancakeSwap, as it appears, is a decentralized exchange (DEX) based on Binance Smart Chain, launched by anonymous developers with a passion for pancakes.

PancakeSwap uses an automated market maker model, meaning there are no order books, and instead, liquidity pools are used. Users can earn income as liquidity providers; by adding their tokens to the liquidity pool, they can collect LP tokens and stake their CAKEs to earn rewards. They can also try their luck in lotteries and earn non-fungible tokens.
The CAKE token, known as the PancakeSwap token, is originally launched as a BEP-20 token on the Binance Smart Chain. CAKE's main function is to incentivize the provision of liquidity on the PancakeSwap platform. Users can stake their tokens to earn rewards issued for providing and locking up liquidity provider tokens. This process is known as farming and is rewarded by the system with CAKE tokens. Tokens can be withdrawn from staking with zero holding time. While CAKE offers users the opportunity to invest in the future and increase returns, it also brings its risks.
CAKE can be used to enter a lottery on PancakeSwap. Each lottery session lasts for six hours. A single ticket costs 10 CAKE and comes with a random combination of four numbers between 1 and 14, such as the combination "8-6-4-13". To win the jackpot, which is equal to 50% of the entire lottery pool, the four numbers on your ticket must match all four numbers on the winning ticket. Users can also swap CAKE or store it in a wallet, and earn non-fungible tokens.

As of March 2021, PancakeSwap (CAKE) has a circulating supply of 125,984,870 CAKE coins, and there is no maximum supply data available.

PancakeSwap is securely stored in supported wallets connected to the Binance Smart Chain. These include MetaMask, TrustWallet, TokenPocket, and WalletConnect.

For those interested in cryptocurrency investment, how to buy and sell PancakeSwap (CAKE) is often a question of curiosity. This can be done either by mining or using a cryptocurrency exchange specifically created for these transactions.
In Turkey, buying PancakeSwap (CAKE) with Turkish Lira is much easier and faster than expected. You can buy PancakeSwap (CAKE) without needing any technical knowledge or official documents.