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About the application:

PancakeSwap is a decentralized exchange that is related to Ethereum’s Uniswap, but it runs on Binance Smart Chain instead. The DEX lets you swap tokens without an intermediary, as well as earn liquidity pool and staking rewards, enter a lottery, and another options. Unlike famous, centralized cryptocurrency exchanges like Binance and Coinbase that are operated by a single, corporate entity, decentralized exchanges (DEXs) let for trading without an intermediary. A lot of such DEXs are based on Ethereum, where the bulk of the decentralized finance (DeFi) action takes place. However, as rival smart contract blockchains take root, comparable DEXs are springing up elsewhere, sometimes with special twists. In the case of PancakeSwap, it’s built on Binance Smart Chain rather than Ethereum, and offers much lower trading fees as a effect. Binance Smart Chain is newer and less established than Ethereum, but PancakeSwap is already making major waves among DEXs.