$11 billion in total value locked (TVL)! If you are wondering what this number reflects, transforming the global financial system is apt for you. PancakeSwap is one of the popular Decentralized Exchanges (DEXes). It operates on the Binance Smart Chain (BSC), a blockchain network. Entrepreneurs who want to remove middlemen in financial services can launch a customized PancakeSwap clone. 

How does Yield Farming function on PancakeSwap?

The PancakeSwap platform operates on an Automated Market Maker (AMM) Protocol. Investors will have to stake their Liquidity Provider (LP) tokens to earn returns. 

Generally, their income depends on their contribution to the liquidity pool. Traders can stake Binance Coins (BNB) and earn CAKE tokens. They can tap the Farms dashboard and check out different trading pairs.

Additionally, both institutional and retail investors can use filters like Annual Percentage Rate (APR), Multiplier, Earned, and Liquidity. Moreover, DeFi investors can press either the Live or Finished button as per their requirements. 

Before choosing a specific trading pair, they must connect their digital wallets like Binance Chain Wallet, Coin98 Wallet, Math Wallet, MetaMask, SafePal, TokenPocket, Trust Wallet, and WalletConnect. Real-time stats are available about expected returns, fees to be paid, token amount, total liquidity, trading volume over a period (daily and weekly). 

Depending on the demand and supply conditions in the market, they can also search for lucrative other yield farms. Currently, PancakeSwap offers multiple exchange options like crypto tokens, DeFi tokens, and stablecoins. 

Wrapping Up

PancakeSwap is a game-changer in the world of Decentralized Finance. CAKE tokens help users to earn huge rewards and are also a viable long-term investment. Importantly, the price of BEP-20 tokens and CAKE tokens are increasing rapidly. 

Therefore, traders are maximizing their returns. Entrepreneurs can also get rid of intermediaries in the global economy. They can hire a DeFi development company for launching a PancakeSwap clone and build their wealth.