PancakeSwap currently accounts for over 50% of the growing Aptos chain’s TVL, reflecting its status as the leading DEX for the BNB chain.
PancakeSwap is apparently Aptos, the top DeFi Dapp on the BNB chain
The chef has done it again. PancakeSwap has broken his 50% barrier on Total Value Locked (TVL) on the Aptos blockchain. Decentralized Finance (DeFi) Funds are on the platform.
PancakeSwap is more than just dominant Decentralized Exchange (DEX) Both BNB Chain and Aptos, but it’s way better than competing DeFi Decentralized applications (Dapps) in those chains. DEX celebrated Aptos’ achievements with a congratulatory tweet.
According to DefiLlama, PancakeSwap holds 53% of TVL on Aptos and 44% on BNB Chain.
DEX holds TVL of $29.5 million in Aptos and $2.3 billion in BNB chain. In each case, it is almost three times the TVL amount of the next ranked Dapp.
While the BNB chain’s overall TVL has been roughly flat since summer 2022, Aptos’ TVL has been steadily increasing since the chain launched in October.
However, PancakeSwap still takes a small nibble from the biggest flapjack, Ethereum, with $12.6 million out of the chain’s total TVL of $48.7 billion (about 2.5%).
Like prison cafeterias, major DEXs are eyeing rival plates on other blockchains, Ethereum’s UniSwap is considering using the BNB chain, and Avalanche’s Trader Joe’s is on the BNB chain. We reserve “tables for two” for DEX and NFT marketplaces.
What is Pancake Swap:
PancakeSwap is a decentralized exchange (DEX) built on the BNB chain. It offers users various features such as liquidity pools, swapping, yield farming, syrup pools, etc. auto market makerInitial Farm Offering (IFO), NFTs profile system, and many others.
Additionally, the protocol helps users get the most out of their crypto assets through trading, yield farming earnings, lottery, prediction, and NFT collectible wins. With the highest trading volume on the market, PancakeSwap is the leading DEX for the BNB chain.
Pancake Swap Locations:
website | | twitter | | Moderate | | Github
What is Aptos:
Aptos is a new independent project focused on providing the world’s most secure and production-ready Layer 1 blockchain. This team includes the original creators, researchers, designers and builders of Diem, the first blockchain built for this purpose.
Aptos Labs Locations:
website | twitter | | telegram | medium | medium | cacophony |
What is BNB Chain:
BNB Chain, formerly known as Binance Smart Chain (BSC), is a community-driven, decentralized, censorship-resistant blockchain powered by Binance. It consists of the BNB Beacon Chain and the BNB Smart Chain, is compatible with EVM, and facilitates a multi-chain ecosystem. Through the MetaFI concept, BNB Chain aims to build an infrastructure to power the world’s parallel virtual ecosystem.
You can read more about BNB Chain here.
website | | twitter | | discord | | telegram | | Github | |