PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
PancakeSwap uses an automated market maker model, meaning that there are no order books and liquidity pools are used instead. A user can earn income by becoming a liquidity provide; by adding their tokens to the liquidity pool they can farm LP tokens and stake their CAKE to earn rewards. They can also try their luck with the lotteries and non-fungible tokens.
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