CakeSwap (CAKESWAP) is the native utility token of CakeSwap Exchange, a decentralized exchange (DEX) known as an automated market maker (AMM). The token is used for various purposes, with its primary functions being yield farming and staking.
CakeSwap is currently undergoing three phases of development. The first phase has already been completed with the launch of the CakeSwap token. The second and third phases, which involve the creation of a decentralized exchange and NFT marketplace, and the introduction of a debit card linked to the token wallet address, respectively, are still in progress.
In terms of transactions, 2% of every buy/sell is distributed to all CakeSwap holders, while 8% of each transaction is converted into liquidity to ensure price stability. Additionally, 3% of every buy/sell contributes to the marketing wallet to support the company's marketing efforts.
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