PancakeSwap brings huge amounts of DeFi to the Binance smart grid
Competitive Decentralized Exchanges (DEX) are the whales in the world of open source software, as Ethereum-based competitor Uniswap catches up with project Uniswap in terms of volume and nominal liquidity.
PancakeSwap leads the ranking. The liquidity of Uniswap's automated market maker (AMM) clone on Binance's own blockchain, Binance Smart Chain (BSC), has grown by 1003% since the beginning of the year. According to CoinGecko, sales volumes have been a bit more impressive, up 2,800% from $37 million on Jan. 1 to $1.1 billion on Feb. 17.
Its own CAKE token has jumped about 6000% since it was issued last fall and now trades at $12.77.
