What is PancakeSwap
Not swapping of Pancakes for breakfast but BEP-20 tokens such as Mars Panda Tokens (MPT) in the popular Binance Smart Chain (BSC) based Decentralised Exchange. BSC has one of the highest trading volumes in the market and yet users incurring one of the lowest transaction fees.
Pancakeswap is traded directly from your wallet app and hence you have 100% ownership of your crypto. It is governed by the community with many innovative features. Along with Ethereum’s SushiSwap and many more, these “food-based” farming have been on the rise since 2020 where users stake their funds in respective platforms for protocol’s tokens.
PancakeSwap utilizes an automated market maker (AMM) model where you trade against a liquidity pool instead of the market. Those liquidity pools consist of other users’ deposited funds which in return, users receive liquidity provider (LP) tokens and earn trading fees. With these LP tokens, users can also then farm the governance token CAKE by locking their LP tokens up for a period of time. The rewards continue as users can stake CAKE in special staking pools such as SYRUP pools and earn even more CAKE!
Feeling lucky? There’s even a lottery system where a ticket costs just a few CAKE. In their NFT section, users are also able to win special NFTs which can be traded with other users for CAKE.
Using PancakeSwap for MPT
For desktop users, the first step is to withdraw Binance coin (BNB) as BEP-20 to a BSC wallet of your choice. You can then visit https://pancakeswap.finance in your desktop browser where you have to first click on “Unlock Wallet”. You can then choose MetaMask, Trust Wallet, MathWallet, TokenPocket, WalletConnect, Binance Chain Wallet, and SafePal Wallet.
Once you are connected, click on “Trade” at the left navigation bar and select “Exchange”. In the To field, click on “Select a currency” and paste the MPT contract address to search for it. Input the quantity of BNB you would like to trade for and proceed with the swap.
If you prefer to have a BSC wallet on your mobile phone, you can download https://trustwallet.com/ app which supports PancakeSwap. Once you created a Trustwallet account and withdraw your BEP20 BNB into it, you can tap on the “Browser” tab located at the bottom of the app and head over to exchange.pancakeswap.finance/#/swap. We will illustrate in detail below how we can purchase MPT using our mobile phones.
Download the Trust Wallet app into your mobile phone.
Open the downloaded Trust Wallet app on your phone and tap on “Create a new wallet”. You may also backup your wallet too.
You will be given a 12-word recovery phrase that can ONLY be used to restore access to your wallet so please keep a record of this safely. You will then be required to verify the 12-word recovery phrase in the correct order.
In the Wallet tab, tap on “Smart Chain” and then tap on “Receive” to get the address of your BSC wallet to which you will be withdrawing your BNB coins. Please note that you will be using the Binance Smart Chain (BSC) BEP-20 network (not the other BEP-2 network). You may also choose to buy BNB directly in the wallet app.
Once you have the BNB in your wallet app, tap on the Browser tab and then “Pancake Swap”. Next, tap on “Select a currency” which you will then have to input the MPT contract address. Input the quantity of BNB you would like to trade for and proceed with the swap.
Before you can swap tokens on PancakeSwap, you need to connect a wallet like MetaMask to it. That way, you can use your BNB from MetaMask to swap for another token. To connect MetaMask to PancakeSwap, you need to install MetaMask on Chrome and create a new wallet. Then, go to PancakeSwap, click on “Connect”, and click on “MetaMask”. After you’ve clicked on “MetaMask”, a pop-up notification will open. The pop-up notification will guide you on how to connect MetaMask to PancakeSwap. All you have to do is to follow the on-screen instructions to connect them together. Then, your MetaMask wallet will be automatically connected to the Binance Smart Chain network. If it isn’t, you can follow this guide on Binance on how to do so. Here’s how to connect MetaMask to PancakeSwap:
Step 1: Install MetaMask & create a new wallet
Note: Skip to the second step if you’ve already installed MetaMask on Chrome.
The first step is to install MetaMask and create a new wallet. Firstly, go to the MetaMask website on your desktop. Once you’re on the MetaMask website, click on “Download now” followed by “Install MetaMask for Chrome”.Clicking on the “Install MetaMask for Chrome” will take you to the MetaMask extension on Chrome. Next, click on “Add to Chrome” to add MetaMask to Chrome.
Once you’ve added MetaMask to Chrome, you’ll land on the homepage of the MetaMask website. On the homepage, you’ll see a couple of options including “Import wallet” and “Create a Wallet”. If this is your first time using MetaMask, click on “Create a Wallet”. In the wallet creation process, you’ll be given a recovery phrase. Make sure to save the recovery phrase somewhere safe. After you’ve saved your recovery phrase, you need to verify it. Once you’ve verified your recovery phrase, your MetaMask wallet will be successfully created.
Step 2: Go to PancakeSwap & click on “Connect”
Now that you’ve created a new wallet on MetaMask, you can connect it to PancakeSwap. Firstly, go to the PancakeSwap website. Once you’re on the PancakeSwap website, you’ll see a “Connect” button on the top navigation bar. Click on the “Connect” button.
After you’ve clicked on the “Connect” button, a pop-up will open. On the pop-up, you’ll see a list of wallets that you can choose from. This includes “Metamask”, “TrustWallet”, “MathWallet”, and others. Since you’re looking to connect Metamask to PancakeSwap, click on “Metamask”.
Step 3: Connect MetaMask to PancakeSwap
After you’ve clicked on “MetaMask”, the MetaMask pop-up notification will open. On the notification, you’ll see all of your MetaMask accounts. If you only have one account, you don’t have to do anything as it’ll be selected by default. Then, tap on the “Next” button to continue with the connection process.
After you’ve tapped on the “Next” button, you’ll land on the “Connect to Account” page. On the page, you’ll see a “View the addresses of your permitted accounts (required)” checkbox. The checkbox states that you need to allow PancakeSwap to view your addresses. By default, the checkbox will be ticked as it is required. Tap on the “Connect” button to proceed to the next step.
Step 4: Allow PancakeSwap to be used within MetaMask
Once you’ve tapped on the “Connect” button, you’ll land on the “Allow this site to add a network” page. By default, the network that will be used is the Binance Smart Chain Mainnet network. If it’s on another network, you can change it later via your MetaMask Settings. Tap on the “Approve” button to proceed to the next step.
After you’ve tapped on “Approve”, you’ll land on the “Allow this site to switch the network?” page. The final step is to switch the selected network on MetaMask to the Binance Smart Chain Mainnet wallet. To do so, tap on the “Switch network” to switch the network. After you’ve tapped on “Switch network”, you’ll be back on PancakeSwap.
On PancakeSwap, you’ll see your wallet address at the top-right corner of the page. This means that you’ve successfully connected MetaMask to PancakeSwap. Now, you’ll be able to swap BNB for another token. You can do so by pasting the address of the token that you want to buy on the “To” field. Then, enter the amount of BNB that you want to swap for the token and click on “Swap” to swap them. You’ve successfully learned how to connect MetaMask to PancakeSwap!
Why MPT on PancakeSwap?
PancakeSwap is the biggest AMM project on BSC and has been audited by CertiK. It has the best security practices and is transparent where its smart contracts are publicly visible. Having low transaction fees and many innovative features will revolutionize the future.
The future is now, and the future is Mars Panda.
About Mars Panda
Mars Panda is a complete eco-system which consists of:
• Games, Social Media and Ecommerce Aggregation
• Yield farming DeFi
• Mars Panda game with NFT game elements
• NFT Marketplace
We aim to fuse mainstream eCommerce and Gaming to the crypto world of NFTs and DeFi, on one seamless, unified platform.
Find us at:
Legatus Global Pte Ltd is an entity that has obtained a regulatory exemption under the Payment Services Act (“PSA”) for digital payments token services. Legatus Global is commissioned to handle the issuance of Mars Panda Token (MPT) as well as the KYC/AML during the private sales and distribution of tokens to private investors. Legatus Global is also handling the process for private sales and distribution.