CakeSwap

CakeSwap(CAKESWAP) a native utility token of CakeSwap Exchange (DEX), it's used for a variety of purposes within the growing landscape. Its main functions are yield farming and staking. CakeSwap is a type of decentrilized exchange (DEX) known as an automated market maker (AMM). Currently, CakeSwap is focusing on working through three phases. The first phase has successfully come through with the launch of the CakeSwap token, while phase two featuring the “Decentralized Exchange” and "NFT Marketplace" is still in the works. Post the exchange launch, the company will add a “debit card” linked to the token wallet address in phase 3; with the debit card “holders”, i.e., people who own tokens will pay with the debit card at the “value” of USD of the tokens they hold. According to the system, 2% of every buy/sell is procured and reallocated to all CakeSwap holders. Then 8% of every transaction is converted into liquidity. This step is programmed and helps generate a price constancy. Next, 3% of every buy/sell will go to the marketing wallet to guarantee the company can keep sponsoring their marketing expenditures.