A Brand-New Entrant In The DeFi Arena
The digital world has been completely revolutionized by the arrival of cryptocurrency. Cryptocurrency is a mode of payment of virtual currencies that are built on a blockchain network. This mode of transaction takes place in a decentralized exchange. This type of exchange initiates the trading of cryptocurrencies like Bitcoin, Ethereum, Dogecoin, Litecoin, etc. Since this type of exchange exists in a decentralized manner, the influence of a third party entity or a central authority is eliminated, giving complete transparency and freedom for the users to transact their cryptocurrencies. The decentralized exchange is very flexible, and it can be built on different blockchain platforms. Many decentralized exchanges are being developed in the crypto market. The majority of the business models have taken the initiative to develop their own decentralized exchanges. All decentralized exchanges are unique based on their blockchain network.
DeFi Platform like Pancakeswap, is the most preferred exchange platform in the current market. Investors are gravitating towards this platform. We at Blockchain App Factory have the required skills to develop the best Pancakeswap like decentralized finance platform.
What Is PancakeSwap?
Pancakeswap like DeFi platform that is exclusively built on the Binance Smart Chain blockchain network. This platform is primarily used to exchange BEP-20 tokens. Automated Marketing Maker (AMM), is the primary reason for the extreme effectiveness of this DeFi Platform. AMM allows the user to trade cryptocurrencies on the exchange platform, and it does not require to be matched with the other user’s digital ledger, as they directly come in contact with the liquidity pool.
Workflow Of PancakeSwap Platform
The working of the Decentralized finance platform like PancakeSwap is entirely based on the core functionalities of the Automated Marketing Maker (AMM). The user deposits funds on the exchange platform, and the user becomes a liquidity provider to the platform. After the investment of funds in the platform, the crypto tokens of the user are specified by the decentralized exchange. After the specification process of the crypto tokens is completed, the user is required to integrate the platform with a digital wallet. This digital wallet allows the users to store their cryptocurrencies securely and enables them to exchange them later. Multiple varieties of crypto tokens can be traded in the platform; thus, the platform specifies the type of token that is going to be traded. After setting up the wallet, and specifying the type of crypto token, the users can exchange their cryptocurrencies and the platform confirms the validity of the progress and initiates the trading process.
Why PancakeSwap Is A Better Development Choice Than The Other Exchanges?
The common decentralized exchanges are built on the Ethereum blockchain. The high usage rate of these exchanges has resulted in high network congestion and high transaction costs, which are not favourable for the crypto audience. In order to eliminate these issues, blockchain experts have devised a solution. The construction of decentralized exchanges on a different blockchain platform, like the Binance Smart Chain, is the solution. The impressive strategy of building a decentralized exchange on the Binance Smart Chain platform paved the way for the introduction of PancakeSwap, which is said to have eliminated the congestion and transaction cost issues that were associated with the previous decentralized exchanges.
Primary Reasons For Creating Your Own DeFi platform like PancakeSwap
Decentralized exchange platforms that are built on the Binance Smart Chain platform has the upper edge over the other exchange platforms due to the following key reasons.
- Economical gas fee
- Cross-chain compatibility
- Proof of stake
- High-speed transaction processing
- Flexible smart contract functionality
- Sophisticated trading and swapping among multiple cryptocurrencies
- Generation of high yields
Create Your Decentralized finance platform like PancakeSwap
At Blockchain App Factory, we develop your PancakeSwap like decentralized exchange platform from scratch by providing high-quality end-to-end services. Before proceeding with the construction of the DeFi Platform like PancakeSwap, the requirements of the users are identified, and the layout of their design and the development process is identified. Our exchange platform is merged with the AMM model, which allows the user to fund the platform initially and become a liquidity provider, thus enabling the development of the liquidity pool. The staking development process is initiated which generates passive incomes in the accounts of the users on the platform. In the intermediate section, the swapping development operation is executed onto the platform, which allows the users to exchange their crypto tokens at the end. We integrate a special feature to your platform, the ability to trade non-fungible tokens. NFTs are on the rise now. The compatibility to trade non-fungible tokens in the decentralized exchange would be a great revenue generator for the users. Before the deployment of the exchange platform, smart contracts are developed and executed onto the Binance Smart Chain blockchain precisely. We integrate the platform with high-grade security features, to ensure safe and secure transactions. The final step would be deploying the customer’s newly developed PancakeSwap like decentralized finance platform into the crypto market.
The Quality Benefits Of Our DeFi Platform
Our exchange platform comes with an in-built lottery scheme that allows users to partake in lotteries to increase their token values.
Tracking of transactions
Our transaction tracking system has the ability to track transactions in seconds, increasing market monitoring at ease.
Our DeFi platform is highly compatible, as it accepts non-fungible tokens for trading purposes, and it functions as an NFT marketplace.
Our stalking protocol generates high rewards in the account and promotes the flow of passive income to the account of the users.
Automated Market Makers (AMM)
Our integration of the AMM feature allows the users to come into direct contact with the liquidity pool and thus increasing the efficiency of the trading process.
Initial Farm Offering Support
Our Initial Farm Offering (IFO) support system allows the users to participate in the sale of the newly issued token.
Our platform enables the user to trade their native token effortlessly by using the liquidity pool.
Our DEX like PancakeSwap like DeFi platform supports a range of high-quality digital wallets for smooth swapping and trading.
Flexible Payment Method
Our platform is integrated with an advanced payment gateway feature, that allows users to gain high flexibility.
Wallets That Are Supported By Our PancakeSwap Development Platform The integration of a digital wallet to a decentralized platform is a very essential process. A digital wallet is a platform where cryptocurrencies are stored and initiated for trading later on. DeFi development company have many distinct digital wallets that support our PancakeSwap Development platform.
Future of PancakeSwap Like Decentralized Finance platform
The creation of the PancakeSwap DeFi platform has amplified the growth of cryptocurrencies. It has attracted a large audience to the crypto market. When compared to the other crypto exchanges, this decentralized exchange is safer, and the transaction speed is better than the other exchanges. These exceptional functionalities are due to their construction on the binance smart chain platform. In the near future, it is said to overtake all decentralized exchanges. The primary reason for its success is due to the integration of many smart development protocols, like Automated Marketing Maker (AMM), lottery scheme, staking protocol, yielding protocol, etc.
Why Hire Blockchain App Factory As Your DeFi Platform Development Company?
Blockchain App Factory is regarded as one of the best crypto development companies in the digital market. We provide diverse 24x7 round the clock services to our customers. Our high-quality end-to-end services, such as,
- We have the expertise to develop decentralized exchanges on different blockchain platforms like Binance Smart Chain, TRON, EOS, Ethereum, etc.
- Our product development team is equipped with the required skills and experience to develop a Decentralized finance platform like PancakeSwap for the customers.
- Our programming team is one of the best in the crypto market, we develop smart contracts that are completely controlled by the user’s customization.
- We provide top-notch post-marketing services to our customers, such as social media marketing, influencer marketing, content marketing, etc.
- We provide 24x7 customer care services for the customer after the deployment, in order to aid their business for future crypto projects.