Pancake Swap is a decentralized exchange (DEX), allowing investors to swap BEP-20 tokens. BEP-20 tokens are tokens built on top of the Binance Smart Chain that don't have their own blockchain. The platform is built on Binance Smart Chain instead of Ethereum, giving it a number of advantages. Early investors in Cake have been on a wild ride this past year -- the token has appreciated more than 30-fold in price since January.