Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
Since launching in 2020, PancakeSwap has been a top 3 cross-chain decentralized exchange, and notably the fiercest contender to challenging Uniswap’s dominance among DEXs. In just the past 7 days, PancakeSwap has processed ~40% of the trade volume of Uniswap and remains #2 in cross-chain total trade volume.
While PancakeSwap was originally a fork of Uniswap V2, it has evolved into much more, an all-in-one DeFi super-app with an AMM, concentrated LPs, farming, liquid staking, trading competitions, no-loss lotteries, perps trading, initial farm offerings, and even a web3 game called Pancake Protectors!
Recently, PancakeSwap made a strategic decision to expand aggressively beyond its home chain of BSC. On BSC, PancakeSwap powered $221M of $243M in DEX trade volume in just the last 24 hours. Although PancakeSwap is synonymous with with BSC, they’re not quitting on BSC. The CoFounder Chef Mochi and the PancakeSwap CAKE holder community have simply demonstrated an alignment in growing the protocol's DEX dominance to new Ethereum L2 chains as well as non-EVM chains like Aptos. As a result in 2023, PancakeSwap has launched its automated market maker (AMM) on the following Ethereum L2s:
- Polygon zkEVM
- zkSync Era
Its most recent L2 launch on Base, a collaborative effort between Coinbase and Optimism, has allowed PancakeSwap to introduce their well known brand to a new class of L2 users.