LESSON 13: DeFi: Anonymous decentralized exchanges UniSwap and PancakeSwap. Create a decentralized Metamask wallet

In this lesson you will learn:

  • Learn how a decentralized exchange (DEX) works;
  • Understand the most popular DEX;
  • Create the most popular decentralized wallet, Metamask, following the manual.

Complete the assignments:

1. Download and install Metamask following the instructions in the lesson.
2. Add the Binance Smart Chain (BSC) network to your wallet with parameters:

3. Connect MetaMask to PancakeSwap.
4. Watch the video tutorial on how to add a new token to your MetaMask wallet in the next step.

Supplementary materials:

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Text of the Lesson

let’s check your knowledge

1. To start trading on a decentralized exchange, it is enough:

  • To provide your personal data
  • Register
  • Create and connect a crypto wallet

2. Exchanges in the BSC network support the:

  • TRC-20 standard
  • BEP-20 standard
  • ERC-20 standard

3. Smart contracts containing locked crypto assets that were provided by platform users are called:

  • Liquidity pools
  • Lotteries
  • Exchanges

4. Uniswap is a decentralized exchange running on the:

  • Ethereum network
  • Bitcoin network
  • Binance Smart Chain network

5. The the commission amount on decentralized exchanges directly depends on:

  • Exchange tariffs
  • Number of exchange users
  • Blockchain network load