PancakeSwap (CAKE) price today
PancakeSwap is the largest decentralized exchange on BNB Chain; CAKE is the protocol's token, used for governance and reduced by burns funded by fees.
PancakeSwap price now
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- Price in US dollars (USD)
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- Price in Brazilian reais (BRL)
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- 24h change
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Market data source: CoinGecko, with a reference USD/BRL rate. Values can lag by a few minutes.
What is PancakeSwap?
PancakeSwap was launched in September 2020 by anonymous developers as a cheaper alternative to Ethereum's decentralized exchanges. Today it operates on several networks.
Besides token swaps, the platform offers perpetual contracts, a lottery, price predictions and yield programs.
How PancakeSwap works
Swaps use liquidity pools supplied by users, who receive part of the fees. CAKE is issued to incentivize those pools.
In recent years governance redesigned the token to make it deflationary: part of protocol fees is used to buy back and burn more CAKE than is issued, and the previous vote-locking model was ended in 2025.
What CAKE is used for
- Voting in protocol governance.
- Taking part in new token sales and other platform programs.
- Exposure to burns funded by trading volume.
Risks and points of attention
- An anonymous team and frequent changes to the token's rules.
- Dependence on activity on BNB Chain, where many high-risk tokens and scams circulate.
- Competition from other decentralized exchanges.
- Products such as the lottery and predictions are games with a negative expected outcome for participants.
Key facts
| Symbol | CAKE |
|---|---|
| Asset type | Token |
| Launch | 2020-09 |
| Network | Token on BNB Smart Chain, available on other networks |
Reference data checked on October 3, 2026 against CoinGecko and the project's official pages.
Official links
Frequently asked questions about PancakeSwap
Is PancakeSwap owned by Binance?
It is not a product of the Binance exchange, but it was born on the network Binance created and received investment from its venture arm.
Is CAKE inflationary?
The token is issued for incentives, but governance adopted burns aimed at reducing total supply over time.
Do I need CAKE to swap tokens on PancakeSwap?
No. Network fees are paid in each blockchain's native token, such as BNB.
Where does the PancakeSwap price on this page come from?
The panel shows the CAKE price in US dollars and Brazilian reais, with change, volume and market capitalization. Data comes from CoinGecko, uses a reference exchange rate and can lag by a few minutes.