The Binance Smart Chain has started to have a considerable impact on the Exchange domains through its highly reputed Decentralized Exchange modes, these DEX had considerable importance due to the exponential increase in the number of participants imparted into the Exchange Domains through the very use of the Binance Smart Chain.
Out of the Decentralized exchanges operating specifically over the Binance Smart Chain, the PancakeSwap had the greater potential of pulling out business in the specified domains of the Exchanges along with other benefits that include the Staking, Yield Farming and Swapping over the DeFi Domains.
There are two available modes to Create DeFi based Decentralized Exchange like PancakeSwap over the Binance Smart Chain, the modes include building the PancakeSwap Platform from scratch delivering only the user-suggested specifications. The second mode is the PancakeSwap Clone Script delivering the end-to-end services of the billion-dollar project - PancakeSwap.
The Building up of the DEX like the PancakeSwap is carried out in sequential steps starting from the Requirement Analysis and concluding at the deployment on the main net.
Step 1: Requirement analysis & Scope finalization
Step 2: Liquidity Pools Development
Step 3: Staking Platform Development
Step 4: Yield Farming Platform Development
Step 5: Lottery Scheme Provision
Step 6: Swapping Platform Development
Step 7: Tokens & Non-Fungible Tokens Integration
Step 8: Smart Contract Auditing with test cases
Step 9: Security Protocol Implementations
Step 10: Deployment in the Client-Server
<< Requirement analysis & Scope finalization
This phase involves identifying the requirements of the clients and proceeding with the design and development of the platform based on the user’s suggested parameters and finalizing the ultimate scope of the Platform development.
<< Liquidity Pools Development
The Liquidity pools are developed which impact the long run of the platform as well as the Token associated with the platform by accepting deposits into the platform from investors and thereby increasing the platform usability.
<< Staking Platform Development
The Staking Platforms are developed which account for generating a passive share of income to the participants making use of the platform. Through this Platform, the Inherent Tokens of the Platform are held to generate passive income to users.
<< Yield Farming Platform Development
Yield Farming Platform development is similar in operation to that of Staking Platform development only key difference is that Yield Farming is not applicable to all those participants, only the Liquidity Providers will be allowed to take part in the Yield Farming.
<< Lottery Scheme Provision
Each Lottery Ticket will cost a considerable amount of Tokens. The Token will comprise a 4 digit sequence that has numbers between 1 and 14. The winner will be awarded a percentage sum of the entire pool, the winner will be selected on the complete match of the sequence also the rewards will be given to those who match at least two sequences in tickets.
<< Swapping Platform Development
The Swapping Platform allows the Exchange of currencies to occur between the ends, The Swapping is mostly done between the Tokens which are currently in trend, the Swapping Platform is inbuilt within the Decentralized Platform developed.
<< Tokens & Non-Fungible Tokens Integration
The Decentralized Exchange Platforms are developed with attributes offering compliance with Tokens, extending their compatibility with Non-Fungible Tokens too. These NFTs are a special type of Tokens contributing to the gaming industry.
<< Smart Contract Auditing with test cases
The Smart Contracts are developed along with the DEX platform to be developed to execute core functionalities of monitoring and mediating digital assets on undergoing rigorous tests before successful deployment.
<< Security Protocol Implementations
The DEX development also leads to the implementation of various Security Protocols. These protocols are meant to secure the digital assets free from venturing hack attacks as well as intruders. Endurance tests are done to test The Platform’s attack resistance.
<< Deployment in the Client-Server
On successful test matching and after going through a series of service determinant security checks the DEX platform is made ready for deployment into the main net to deliver optimal services to its users.
Though there are multiple ways to build your own DEX Platform, the predominant way to build your own platform is to opt for a Decentralized Exchange Development Company capable of building the DEX platform both from very scratch as well as in a ready-made mode as suggested by the participant seeking DEX for use.
Maticz the pioneer DeFi Development Company extends its quality of service into the DEX Development through its expert team of developers and quality set of analysts.
The PancakeSwap Clone Script is a DeFi based Decentralized Exchange Script offering the features such as Staking, Yield Farming, Swapping, and Lottery Scheme Provisions like the PancakeSwap Exchange. The PancakeSwap Clone Script can be customized to deliver the user suggested specifications.
Know more about PancakeSwap Clone Script >>>
The PancakeSwap Clone Script operates with plenty of highlight features that include,
<< Reduced cost of participation
<< Dynamic Token Pairing
<< Versatile Token Support
<< Integrated Security Protocols
<< Automated Market Making
<< Sequentially Updated transaction history
<< Multiple Audits per Second
PancakeSwap has the potential to perform far better than any Decentralized Exchanges available in the current trends due to its desirable functionalities that include, entirely Decentralized Exchange, Superlative Staking, high yield Farming, and Lottery provisions with best in the market asset management services.
The DeFi systems on Binance Smart Chain are bound to offer an extreme degree of Smart Contracting and programmability to its users compared to products operated upon the Tron Network architecture and Ethereum Network architecture. The desirable features of BSC include,
<< Average Gas Price
<< High Yield Farming
<< Cross-chain Compliance
<< Crypto Bridging
<< Proof of Stake
<< Popularity of BEP20 Tokens
<< Faster transactions
<< Smart Contract feasibility
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