All About PancakeSwap: Syrup Pools, CAKE and GMI

After two successful IDOs, we wanted to take a step back this week to take a look at some fundamental projects in the ecosystem that allow us to do what we do so well. Specifically, we are going to cover PancakeSwap and all of the innovation that has occurred on the platform since it was launched in the midst of DeFi Summer.

Given that GamiFi is native to Binance Smart Chain, if you have used the GamiFi launchpad, then it’s probably safe to assume that you have used PancakeSwap as well. But it’s okay if you haven’t, because you just might after you read this article! PancakeSwap was originally a fork of Uniswap on BSC; an automated market maker with liquidity pools that users can utilise to provide liquidity and earn yield from swap fees. But what was once a simple fork to allow for the same functionality on BSC has since evolved into something much greater, highlighting how the collaborative and open nature of blockchain technology can benefit all. PancakeSwap now has a number of different swap products, including traditional LP token pools that earn trading fees, CAKE pools for yield farmers to earn the native DEX token on top of swap fees, as well as “Syrup” pools, where yield farmers earn tokens from projects that participate.

Speaking of those Syrup pools, we are extremely pleased to announce that a governance vote on PancakeSwap has passed and GamiFi now has its very own Syrup pool where liquidity providers can earn GMI rewards! The GamiFi Syrup pool is a great way to support the growth of GamiFi and earn passive rewards at the same time.

Traditional automated market makers are great products and have facilitated massive growth in the decentralized finance space, but there isn’t much to write home about them in 2022, at least as far as innovation is concerned. Rather, there are two areas where PancakeSwap has taken the lead and continued to stay relevant compared to its forked parent: alternative trading strategies and NFTs.

One such alternative trading strategy available on PancakeSwap is their predictions market; users can simply bet on whether the price of a coin is going to go up or down, and will be rewarded if they are correct. Another alternative trading strategy available on PancakeSwap is perpetual swaps. Perpetual swaps are a product that was originally implemented for cryptocurrency trading that allow traders to gain leveraged exposure to the price of an asset without actually having to own it, as well as allowing traders to roll that exposure into the future ad infinitum without any contract settlement dates. Perpetual swaps have become extremely popular in crypto, both as a way to hedge a portfolio or to speculate on one. This is why PancakeSwap has developed a number of decentralised perpetual swap markets for a variety of different assets.

On the flip side of perpetual swaps, which might be seen as too complex or risky to the average market participants, there is the PancakeSwap NFT market and lotteries. Lotteries, of course, are exactly what they sound like: participants can purchase tickets for a chance to win from a pot of prizes. The NFT market, on the other hand, aims to solve one of the main issues with NFTs as an investment: they are inherently illiquid and require a buyer and seller to be matched before they can be sold. PancakeSwap aims to help solve this problem by creating a one-stop-shop. Users who are there to swap can also see NFT activity, as opposed to having to login to an entirely separate website.

Whether it is NFT trading, advanced trading strategies or the GamiFi Syrup pool, what are you waiting for? Go and give PancakeSwap a try today!



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