About PancakeSwap
PancakeSwap is a decentralized exchange and automated market maker on BNB Chain. Users can swap BEP-20 tokens, provide liquidity, and use DeFi products like yield farming, a lottery, and token launchpads. A pseudonymous team built it as a community-driven project on BNB Chain, with no publicly identified individual founders. PancakeSwap and its native token, CAKE, launched in September 2020. At the application layer, PancakeSwap uses an automated market maker model with liquidity pools instead of order books. For transaction finality, it relies on BNB Chain's Proof-of-Staked-Authority consensus. CAKE is used for governance voting, liquidity and yield farming rewards, and participation in protocol products like perpetuals trading, the lottery, and launchpad offerings. The token had no premine or team allocation and is emitted through protocol rewards. A portion of CAKE is regularly burned using protocol fee revenue, making the token deflationary in practice. The maximum supply is hard-capped at 400 million tokens, though ongoing burns are expected to keep circulating supply well below that ceiling.
BNB Smart Chain tops rankings with 4.86M active addresses in 24 hours
BNB Smart Chain's dominance in active addresses highlights its appeal to retail traders, challenging rivals to innovate or risk losing market share.
Tendril exploit drains roughly $555K in USDT after sell hook flaw
The exploit highlights the critical need for rigorous auditing and secure coding practices in DeFi to prevent vulnerabilities in custom token logic.
Tokenized stocks generate $12.4 billion in DEX trading volume in 30 days
The rapid growth of tokenized stock trading on DEXs highlights a shift towards decentralized finance, challenging traditional equity markets.
PancakeSwap tells CAKE holders on opBNB to bridge out before November 23
The discontinuation of LayerZero support for opBNB may prompt strategic shifts in CAKE liquidity management and influence future tokenomics.
Uniswap rolls out aggregator hooks to tap rival DEX liquidity
Uniswap's aggregator hooks could centralize liquidity, reduce slippage, and shift DeFi dynamics by integrating external pools into its protocol.
CertiK flags $820K exploit draining NEM token’s PancakeSwap liquidity pool
The exploit highlights the critical need for rigorous audits and transparency in DeFi tokenomics to prevent vulnerabilities and protect investors.
A sourced map of PancakeSwap's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on PancakeSwap and the wider market, hosted by our team, will appear here once episodes are live.