PancakeSwap is a decentralized exchange (DEX) built on multiple blockchains.

[1] As of 2024, it is one of the major DEX on Binance Smart Chain and has more than $2.3B in total value locked.

[2] PancakeSwap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software.

[2][3] The native token of protocol is CAKE which is used for governance and to incentivize liquidity provision.

[2] CAKE token holders can participate in governance by voting on proposals that influence the platform's development.