PancakeSwap is a decentralized exchange (DEX) built on BNB Chain which is designed to allow users to swap BEP-20 tokens. The protocol is a fork of SushiSwap and uses an automated market maker (AMM) to facilitate trades while offering additional services such as initial farm offerings (IFOs), liquidity pools, lotteries and an NFT marketplace. CAKE is the native token of the DEX used to participate in the platform's liquidity pools, earn rewards via staking, vote on decisions that affect the future direction of the protocol, participate in IFOs and mint NFTs.