PancakeSwap and BakerySwap are market-based applications built on Binance Smart Chain. PancakeSwap and BakerySwap use an automatic market maker model for trading platforms.
Key Takeaways
- PancakeSwap offers staking and liquidity provision incentives, while BakerySwap doesn’t have any staking or liquidity incentives.
- PancakeSwap has a higher trading volume and market capitalization compared to BakerySwap.
- BakerySwap focuses more on NFTs and offers more NFT-related features than PancakeSwap.
PancakeSwap vs BakerySwap
The difference between PancakeSwap and BakerySwap is PancakeSwap uses Cake tokens for trading, and BakerySwap uses Bake tokens for trading. Crypto traders especially use BakerySwap, and Decentralised finance traders use PancakeSwap for trading. PancakeSwap has no online mode of support, but BakerySwap has an online mode of support.
PancakeSwap works as a decentralized exchange. It works on Binance smart chain. The decentralized performance works as the intermediate between the trader and the process.
BakerySwap is the first-ever made trading platform on Binance smart chain. The first-ever model to use automated market maker. It is also a decentralized protocol.
Comparison Table
| Parameters of Comparison | PancakeSwap | BakerySwap |
|---|---|---|
| Definition | Largest decentralized exchange platform on Binance smart chain. | The first automated market chain uses the Binance protocol. |
| Online support | No | Yes |
| Integrations | AstroTools, Math wallet | Binance Smart Chain |
| Model | Cheaper version of Uniswap | Automated Market Chain |
| Token | CAKE | BAKE |
| Version | Upgraded version of Uniswap | Upgraded version of PancakeSwap |
What is PancakeSwap?
PancakeSwap is operated by a single entity. The entity is corporate. It uses decentralized exchanges for trading. The platform has competition with Ethereum decentralized exchanges.
The trading does not need any intermediate to work during the trading process. The decentralized allows the trader to trade without having an intermediate in the process.
It uses fueled liquidity pools. Users have the power to lock their tokens smartly. PancakeSwap is the largest decentralized exchange platform.
It also has one more way of getting rewards. There is a thing called Syrup Pools which allows the user to get rewards. The whole experience is like a game.
What is BakerySwap?
This was the first-ever model which was built on Binance smart chain. It has its way of trading with unique exchanges. The unique token is Bake.
Bake token is used in the trading platform. The users have to provide liquidity so that, in return, the user earns tokens in Bake. There are many categories in which the Bake rewards are given to traders or users.
It can even be used to make unique none- fungible tokens, and it points out to the collection of Bake tokens. It is considered to be the farming tool of Bake tokens.
It is a cheaper mode of trade as compared to the uni swap. Bake tokens are rewarded to the users who provide liquidity. There is no pre-mode or post-mode in this trade.
Main Differences Between PancakeSwap and BakerySwap
- PancakeSwap uses the CAKE token, and BakerySwap uses the BAKE token.
- The upgraded version of PancakeSwap is BakerySwap.
- http://real.mtak.hu/124047/1/fer-20-1-st3-katona.pdf
- http://real.mtak.hu/124038/1/hsz-20-1-t3-katona.pdf
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
