- PancakeSwap is built on Binance Smart Chain and is a BEP20 token.
- CAKE’s primary function is to incentivize the platform to provide liquidity.
Tokens used to fuel decentralized exchanges (DEXs) such as PancakeSwap CAKE/USD, Uniswap UNI/USD, and SushiSwap SUSHI/USD. The value of each token is based on the additional usefulness and advantages it provides to the exchange.
PancakeSwap is an automated market maker (AMM) – a decentralized finance (DeFi) program that enables users to trade tokens, providing liquidity through farming and receiving fees in return. PancakeSwap is built on Binance Smart Chain and is a BEP20 token. CAKE’s primary function is to incentivize the PancakeSwap platform to provide liquidity.
According to CoinMarketCap, the PancakeSwap price today is $7.39 USD with a 24-hour trading volume of $132,406,166 USD. PancakeSwap has been up 1.26% in the last 24 hours.
Uniswap seeks to improve trading efficiency over conventional exchanges while keeping token trading automated and available to anybody possessing tokens. The protocol reduces risk and expenses for all participants by automating the market-making process.
According to CoinMarketCap, the Uniswap price today is $11.25 USD with a 24-hour trading volume of $154,232,468 USD. Uniswap has been up 1.63% in the last 24 hours.
By introducing SUSHI, SushiSwap hopes to broaden the AMM market’s appeal and provide new functionality not previously available on Uniswap, such as higher incentives for network members that utilize SUSHI. Most of its users are DeFi traders and other related organizations hoping to profit from the recent surge in project token value by generating new sources of liquidity.
According to CoinMarketCap, the SushiSwap price today is $4.24 USD with a 24-hour trading volume of $148,462,046 USD. SushiSwap has been up 0.27% in the last 24 hours.