What are CAKE tokens?
CAKE tokens are the native cryptocurrency of the PancakeSwap decentralized exchange (DEX).
They are an ERC-20 token built on the Ethereum blockchain and are used to facilitate transactions on the PancakeSwap platform. CAKE tokens can be used to pay for trading fees, receive rewards from liquidity pools, and participate in governance decisions. The total supply of CAKE tokens is 1 billion, with no additional tokens being created.
The current circulating supply is around 690 million. The price of CAKE tokens is determined by market forces and can be traded on various exchanges such as Binance, Huobi Global, OKEx, and more. CAKE tokens also provide holders with a variety of benefits such as staking rewards, access to exclusive events and promotions, discounts on trading fees, and more.
Holders of CAKE tokens also have voting rights in PancakeSwap’s governance system which allows them to make decisions about the future direction of the project.
