PancakeSwap(V2) introduction
PancakeSwap is a decentralized exchange that exchanges BEP20 tokens on the Binance Smart Chain. PancakeSwap uses an Automated Market Maker (AMM) model where users trade against liquidity pools. Users deposit funds into the pool and receive Liquidity Provider (LP) tokens in return. They can use these tokens to get their share back, as well as some of the transaction fees. LP tokens are called FLIP tokens. PancakeSwap also allows users to farm other tokens such as CAKE and SYRUP. Additionally, users can deposit LP tokens, locking them in a process that rewards users with CAKE. Users can stake CAKE tokens to get SYRUP as a governance token (and as a lottery ticket).
