CakeSwap is a decentralized exchange platform that uses its native utility token, CAKESWAP, for yield farming and staking. Currently in its second phase, the company plans to launch a decentralized exchange and NFT marketplace, followed by a debit card for token holders in phase three. Transactions on CakeSwap generate fees, with 2% allocated to all token holders, 8% converted into liquidity, and 3% for marketing expenses. The project aims to create price stability and foster a growing user community.
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