PancakeSwap
#84
CAKE
$1,32
−3.84% (24h)
Market Cap
$426,42M
Volume 24d
$23,74M
Updated at
17:18 UTC
Price Chart
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What is PancakeSwap?
PancakeSwap (CAKE) is the utility and governance token for the PancakeSwap decentralized exchange ecosystem. The project was launched in 2020 by a pseudonymous team of developers known as the PancakeSwap team. As a token operating on another blockchain, it relies on the security and consensus mechanism of its host network. Its primary functions within the platform include facilitating governance decisions and providing incentives for liquidity providers. The CAKE token is categorized as both a decentralized exchange (DEX) token and a governance token, holding a market rank of 84. The platform is one of several decentralized exchanges in the crypto space.
How does PancakeSwap work?
PancakeSwap's native token, CAKE, functions on an external blockchain and does not operate its own independent consensus mechanism. Consequently, the security and finality of CAKE transactions are directly dependent on the consensus protocol of its host network. This design means all token activities are validated and secured by the parent blockchain's established infrastructure.
The network participants responsible for validating CAKE transactions are the miners or validators of the host blockchain. These entities process blocks of transactions, including those involving CAKE, according to the parent chain's rules. The decentralized nature of this process ensures that no single party controls the validation of token transfers.
When a CAKE transaction is initiated, it is broadcast to the host blockchain's network for confirmation. Validators then bundle this transaction with others into a new block, which is added to the chain. Upon successful block confirmation, the transfer of CAKE is recorded permanently and immutably on the public ledger.
PancakeSwap use cases
The CAKE token serves several key functions within the PancakeSwap decentralized exchange, primarily centered on participation and rewards. Its design encourages user involvement in the platform's operations and provides methods for earning through various decentralized finance activities.
- Governance: Holders can vote on proposals related to the development and future direction of the PancakeSwap protocol.
- Staking: Users can lock up their CAKE tokens in specific pools to earn rewards over a set period.
- Liquidity incentives: The token is used to reward users who provide liquidity to various trading pairs on the exchange.
- Yield farming: Participants can use their liquidity provider tokens to farm for additional CAKE rewards on the platform.
PancakeSwap tokenomics
The tokenomics of PancakeSwap's CAKE token are defined by a capped maximum supply. The total amount of CAKE that can ever be created is limited to 400,000,000 tokens. This fixed cap establishes a deflationary pressure over the long term, as no new tokens can be minted beyond this limit. The circulating supply, which represents the number of tokens currently available to the public, is 323,635,403.61331 CAKE. This figure changes as tokens are released or burned according to the protocol's mechanisms. The supply model is designed to manage the token's distribution and availability within the PancakeSwap ecosystem, balancing emissions for rewards with burning mechanisms.
PancakeSwap price history & milestones
PancakeSwap (CAKE) was introduced to the market in 2020 as the native token for its decentralized exchange platform. Since its launch, the token's value has experienced significant fluctuations, which is common in the digital asset market. The token recorded its all-time high price of $44.18 on April 30, 2021. Conversely, its all-time low value was registered at $0.0002318 on September 29, 2020, shortly after its initial release. The price history reflects various market cycles and changes in sentiment within the broader cryptocurrency ecosystem. Based on market capitalization, the token currently holds a rank of 84 among other digital assets.
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Frequently asked questions
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What is the current price of PancakeSwap?
As of 17:18 2026-06-23, PancakeSwap (CAKE) is trading at $1,32. Prices update every 5 minutes on this page. -
Is PancakeSwap a good cryptocurrency to buy on Switchere?
Switchere does not provide investment advice. You can buy PancakeSwap on Switchere; whether it's right for you depends on your own research and risk tolerance. -
What is the main purpose of the CAKE token?
CAKE is the utility and governance token of the PancakeSwap decentralized exchange. Its primary purposes are to facilitate governance, allowing holders to vote on platform changes, and to incentivize participation. Users can stake CAKE or use it for yield farming to earn rewards, and it is also used to reward liquidity providers on the exchange. -
What was PancakeSwap's all-time high price?
The all-time high price for PancakeSwap (CAKE) was $44.18. This price was reached on April 30, 2021. This value represents the peak market price recorded for the token since its launch. Market prices for digital assets are subject to high volatility and can change based on numerous factors. -
Where can I buy PancakeSwap?
You can buy PancakeSwap on Switchere using a wide range of payment methods including credit cards, debit cards, Apple Pay, Google Pay, SEPA bank transfers, and supported digital wallets. The process typically completes within a few minutes after identity verification. -
Can I buy PancakeSwap with a credit card?
Yes. Switchere supports PancakeSwap purchases with Visa and Mastercard credit and debit cards. Card payments are protected by 3D Secure authentication and typically settle to your Switchere wallet within a few minutes of approval.
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