Decentralized Exchange Development using Pancakeswap Clone to start DeFi DEX on BSC
Pancakeswap is a food-themed DeFi protocol that is leading the way of other exchanges. The main objective of building a cryptocurrency exchange that is similar to Pancakeswap is to offer a smooth experience. It can be achieved by building Pancakeswap Clone on Binance Smart Chain. Uberdoo provides the industry-best Pancakeswap clone solution that is customized in such a way that it reflects your business vision for the crypto exchange.
The swapping of BEP-20 tokens can be done swiftly using our decentralized exchange development of Pancakeswap-like crypto exchange. Automated Market Maker (AMM) is the mechanism we leverage for building Pancakeswap Clone for a high-speed transaction and low transaction costs.
The below-mentioned are some of the Pancakeswap clone script components that help in satisfying the purposes of decentralized DeFi exchange development.
Pancakeswap clone script components
- Exchange – Based on the AMM model.
- NFT Profile System – An upcoming NFT feature.
- Syrup Pools – To stake CAKE and earn free tokens.
- Staking – To earn rewards from your token holdings.
- Lottery – To participate in the lotteries of the exchange.
- Non Fungible Tokens – To win and trade with CAKE tokens.
- Token Swaps – Simple way to trade via automated liquidity pools.
- Liquidity Pools – To provide liquidity by adding tokens to liquidity pools.
- Initial Farm Offerings – To get newly launched tokens through yield farming.
Salient Features of Pancakeswap Clone Script
Our Pancakeswap clone script incorporates all the extensive features of the Pancakeswap exchange. These features support plenty of liquidity, thus, providing a valuable DEX exchange.
Yield Farming
Offers liquidity to the users on the platform with native Cake token rewards and thereby helps in escalating the yield farming.
Exchange Process
The order book usage is completely eradicated by developing the exchange with the AMM model. Our Pancakeswap trading platform offers more than just swapping and trading.
Swapping
This is one of the notable features of Pancakeswap Clone which allows swapping of BEP-20 tokens for other tokens. It also supports earning and collecting other cryptocurrencies.
Voting System
The token holders are given voting rights to be a part of the future development of the exchange platform.
Bug Bounty Source
If any possible error or bug is found out by any of the users, the user will be rewarded with token rewards or other rewards by the platform.
Profile Updation
The users can create and modify their profile details at any time on the DeFi exchange platform for better trade processing.
Steps to Develop a Pancakeswap-like DeFi Exchange
The following are the phases involved in the step-by-step development and feature inclusion process to build the decentralized exchange platform with Pancakeswap Clone.
Step 1: Scope finalization with a feasibility study
- Identify the requirements and do a feasibility study on the needs of the exchange platform.
- Proceeding with the design and development of the platform in accordance with the users’ suggestions.
- Finalizing the end scope of the exchange platform development.
Step 2: Development of Liquidity Pools
- Incorporation of liquidity pool development to ensure the long run of the developed platform.
- Accepting deposits from investors in a smooth manner thereby increasing platform usability.
Step 3: Integration of Staking
Integration of staking accounts to generate a decent share of income to the platform participants by holding inherent tokens.
Step 4: Yield Farming Development
- It is almost similar to the operations of staking inclusion.
- The only difference is that only the liquidity providers are allowed to participate in the yield farming and not all the platform participants.
Step 5: Lottery Schemes Inducement
- Lotteries can be purchased with a certain amount of tokens.
- If the user’s token sequence matches the winning lottery’s sequence, the user will be awarded a percentage sum of the entire pool.
Step 6: Provision for Swapping
- This feature is inbuilt within the developed decentralized platform.
- The swapping platform allows the exchange of tokens that are currently in trend to occur between the ends.
Step 7: NFT & Other Tokens Integration
- The platform comes with offering a wide range of tokens.
- It also extends to offer NFTs which hugely contributes to the gaming industry.
Step 8: Smart Contracts Addition
- For monitoring and mediating digital assets, smart contracts are developed along with the platform.
- They help in executing core functionalities and high-level testing before getting the platform live.
Step 9: Security Protocols
- Various security mechanisms and protocols are imparted in the platform to avoid potential breaches and vulnerable attacks.
- The Clone’s attack resistance is tested using endurance testing.
Step 10: Deployment
After completion of rigorous testing and effective security checks, the built Pancakeswap Clone exchange platform is deployed into the main net to offer best-in-class crypto exchange services to its users.
Pancakeswap Clone Script Escorted by Binance Bridge
To trade ERC-20 tokens on your Panckeswap Clone, it is necessary to wrap them on top of Binance Bridge in order to turn them into BEP-20 tokens. Once the crypto tokens are bridged and wrapped over Binance Smart Chain, you can save the trading fee costs on a large scale.
Our Pancakeswap Clone can be wrapped with Binance Bridge not just for the cross-chain assets but also to bridge Ethereum assets or tokens which thereby provides increased liquidity and yield farming.
Why Pancakeswap Clone?
Here are the reasons that justify why our Pancakeswap Clone is the go-to platform for DeFi exchange platform development.
- Stage-wise Integration
- Lucrative reward system
- Customizable dashboards
- Ease-of-use of liquidity portals
- Advanced security mechanisms
- Integrated with seamless menu bars
- Highly compatible with Chrome Plugins
- Guarded payment gateways and processes.
Reasons to build Pancakeswap Clone on BSC
Binance Smart Chain is the king of providing highly efficient smart contracts and programmability to its users. The desirable features that attract businesses to have their Pancakeswap Clones built on top of BSC are as follows,
- Proof of stake
- Crypto bridging
- Average gas fee
- High yield farming
- BEP-20 popularity
- Cross-chain compliance
- High-speed transactions
- Feasible Smart contracts
Where to Find the Best Pancakeswap Clone Script?
To create an exceptional Pancakeswap clone script with in-trend trading features, you will need to partner with a Pancakeswap clone script development company that is backed by professional blockchain experts. Uberdoo is one such company that ensures to provide you with the best software on time by inducing all your business-oriented customizations in the exchange platform. Our expert team takes advantage of the modern technology tools to construct a robust Pancakeswap clone script software for you. Get in touch with us to kick-start your Pancakeswap Clone development soon!