CAKE is the native cryptocurrency of PancakeSwap, a popular decentralized exchange (DEX) built on the BNB Smart Chain 🥞💰. It allows users to trade crypto tokens directly without banks or middlemen 🔄. CAKE is mainly used for staking and yield farming, where users can earn rewards by locking their tokens 🌾📈. Holders can also vote on platform decisions, giving CAKE a governance role 🗳️. The token is used in lotteries, NFTs, and special token launches on PancakeSwap 🎟️🖼️. To control supply, PancakeSwap regularly burns CAKE tokens, helping reduce inflation 🔥. Overall, CAKE plays a key role in the DeFi ecosystem but, like all crypto, its price can be volatile ⚠️🚀.
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