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PancakeSwap (CAKE) is a decentralized finance (DeFi) platform built on the Binance Smart Chain that enables users to swap various cryptocurrencies with low transaction fees. It operates as an automated market maker (AMM), allowing users to provide liquidity and earn rewards through yield farming and staking.
EigenLayer (EIGEN) is a decentralized protocol built on Ethereum that allows users to leverage their staked assets to secure additional services and applications. By utilizing a novel mechanism called 're-staking,' EigenLayer enables Ethereum validators to extend their security to various layers and projects, enhancing the overall ecosystem's efficiency and reducing the need for redundant capital.