Trading on PancakeSwap is undeniably better for smaller wallets who can't quite call themselves crypto whales and don't have unlimited funds to drop on gas fees.Īccessing PancakeSwap is still familiar for Ethereum users since you can connect to the exchange using Metamask, just like you do when using Uniswap and SushiSwap. The reason is PancakeSwap is built on Binance Smart Chain, a high-throughput blockchain built by Binance to compete with Ethereum.īSC achieves its scaling prowess in part by being less decentralized than Ethereum, but that doesn't seem to deter users from taking advantage of its barely-there transaction fees. Cheaper + faster transactionsĪdditionally, PancakeSwap is less expensive and faster to use than both Uniswap and Sushi. Binance Smart Chain is way cheaper to use than Ethereum - but that's because it's also far more centralized. SushiSwap, however, is in how much cheaper it is to deposit said assets on the former. The beauty of farming using Pancakeswap vs. Find a pair of assets you already hold or are willing to supply, fire up your Metamask wallet, deposit, and farm. Similar to yield farming on SushiSwap, farming LP tokens on PancakeSwap is pretty simple. This difference explains why large liquidity migrations from Uniswap to both Sushi and PancakeSwap happened as LPs sought more wealth creation. The fundamental difference between the three DeFi protocols is that the UNI token is solely used for governance. Similarly, CAKE holders who stake their tokens receive SYRUP, entitling holders to rewards paid in CAKE. SUSHI holders who stake their tokens receive xSUSHI, a revenue-sharing token that earns transaction fees from the protocol. While all three enable decentralized exchange, community governance, yield farming, and LP (liquidity provider) opportunities, only Sushi and PancakeSwap pay rewards back to token holders who stake their tokens.
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