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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.
Magic Eden (ME) is a decentralized marketplace primarily focused on non-fungible tokens (NFTs) on various blockchain networks. It allows users to buy, sell, and trade NFTs seamlessly, providing a platform for creators and collectors to engage in the growing digital asset space.