Article Summary, Automatically Generated By AI
Summary of CakeSwap
- CakeSwap (CAKESWAP) is a native utility token for CakeSwap Exchange (DEX).
- Main functions: yield farming and staking.
- CakeSwap is a decentralized exchange (DEX) and automated market maker (AMM).
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Three phases:
- Phase 1: Launch of CakeSwap token (completed)
- Phase 2: Decentralized Exchange and NFT Marketplace (in progress)
- Phase 3: Debit card linked to token wallet address (upcoming)
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Tokenomics:
- 2% of every buy/sell
Introducing CakeSwap: The Pioneering Decentralized Exchange
CakeSwap (CAKESWAP), the native utility token of CakeSwap Exchange (DEX), serves a multitude of purposes within the burgeoning landscape. Its primary functions encompass yield farming and staking. As a decentralized exchange (DEX) and automated market maker (AMM), CakeSwap is currently navigating through three phases. The inaugural phase, which successfully launched the CakeSwap token, has been completed. The second phase, featuring the “Decentralized Exchange” and “NFT Marketplace,” is still underway. Following the exchange launch, the company plans to introduce a debit card linked to the token wallet address in phase three, enabling debit card holders, or token owners, to make payments equivalent to the USD value of their held tokens. According to the system, 2% of every buy/sell transaction is procured and reallocated to all CakeSwap holders. Furthermore, 8% of every transaction is converted into liquidity, a programmed step that helps maintain price stability. Additionally, 3% of every buy/sell transaction will be allocated to the marketing wallet, ensuring the company can sustain its marketing expenditures.