After four years, PancakeSwap has achieved $836 billion in cumulative trading volume and a total value locked (TVL) of approximately $1.72 billion.
PancakeSwap, a decentralized exchange, has reported a cumulative trading volume of $836 billion and a total value locked (TVL) of approximately $1.72 billion over four years.
According to DefiLlama, PancakeSwap’s total value locked as of Sept. 20 was approximately $1.72 billion, a decrease from the all-time peak of $7.16 billion on May 4, 2021. PancakeSwap’s TVL was approximately $2.42 billion on March 30, 2024, and has since declined.
The exchange, which operates on an automated market maker (AMM) model, stated that it serves more than 43 million cumulative unique addresses.
PancakeSwap v4 Update to Address the Efficiencies of Automated Market Makers
The upcoming release of PancakeSwap v4, a significant update, is anticipated to improve the user experience and scalability. PancakeSwap has made this announcement. The objective of v4 is to enhance PancakeSwap’s foundation by enhancing liquidity provision and interoperability.
Chef Kids, the leader of PancakeSwap, provided an explanation to Cointelegraph:
“With PancakeSwap v4, we aim to tackle major shortcomings in existing automated market makers, inflexible pricing models, limited trading features compared to centralized exchanges, impermanent loss for liquidity providers, and high on-chain gas fees.”
According to Kids, traders are anticipated to experience an enhanced overall experience and reduce trading costs as a result of reduced petroleum fees, advanced trading tools, and dynamic fee tiers.
Kids stated that the protocol is designed to enhance the functionality and adaptability of the decentralized exchange space. PancakeSwap anticipates that the trading volume will increase as the user experience improves, potentially increasing the revenue of the protocol. Kids elaborated:
“We’ll focus on increasing capital efficiency and providing a streamlined interface for liquidity providers, which will attract more participants, enhance market depth, and lead to better price execution.”
PancakeSwap Intends to Broaden DEX
This year, the protocol has published its v4 white paper, a $500,000 developer program that is intended to attract top tie builders in anticipation of the official launch of v4.
PancakeSwap is currently hosting a v4 Hookathon on Dorahacks as part of this program. Submissions are open until Sept. 30.
PancakeSwap, which was introduced in 2020, is accessible on nine chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, ZKsync Era, Arbitrum One, Linea, Base, and opBNB.
According to children, PancakeSwap intends to broaden its DEX to include additional establishments. PancakeSwap has determined that numerous DEXs are devoid of functionality and user experience by emphasizing product-market fit.
Kids stated that PancakeSwap has the potential to address a critical market gap by enhancing the efficacy and accessibility of trading on emerging networks.
