PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) app that allows users to exchange tokens while also providing liquidity through farming and earning fees.
It is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain that launched in September 2020. PancakeSwap employs an automated market maker model in which users trade against a pool of liquidity.
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