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Swap your favorite tokens ,right on our onboard swap feature.
The GongSwap Decentralized Exchange
PancakeSwap uses an automated market maker (AMM) model. That means that while you can trade digital assets on the platform, there isn’t an order book where you’re matched with someone else. Instead, you trade against a liquidity pool.
Those pools are filled with other users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
So, in short, you can trade BEP-20 tokens, or add liquidity and earn rewards. There are also other features we’ll cover later.
You’ll find these LP tokens in several flavors – if you added, say, BUSD and BNB to the pool, you’ll receive BUSD-BNB LP tokens in return. BETH and ETH? You’ll get BETH-ETH LP tokens.
Using PancakeSwap
You’ll notice if you visit https://app.gongswap.finance that many features are inaccessible until you click on Unlock Wallet. Click on it, and you’ll be met with a few options: MetaMask, Trust Wallet, WalletConnect, Binance Chain Wallet, and other options.
But wait, we hear you say, isn’t MetaMask an Ethereum wallet?
Yes, it is, but the architecture of Binance Smart Chain is such that you can use MetaMask to interact with BSC-based DApps. If you choose to use MetaMask, we suggest you check out our Connecting MetaMask with Binance Smart Chain guide.
Once you’ve got that set up, you can unlock your wallet to reveal additional information. You’ll see that different LP tokens promise different returns. So how can you add liquidity?
Note:
In transactions made through decentralized exchanges, the typical third party entities which would normally oversee the security and transfer of assets are substituted by a blockchain or distributed ledger. Some common methods of operation include the use of smart contracts or order book relaying, although many other variations are possible and with differing degrees of decentralization.
No middleman issuing, decentralized exchanges reduce the risk of theft from hacking of exchanges, but liquidity providers do need to transfer tokens to the decentralized exchange. Decentralized exchanges can also prevent price manipulation or faked trading volume through wash trading, and are more anonymous.
No more suffering from low trading volumes and market liquidity.
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