PancakeSwap, a distinguished participant amongst DEXs, has introduced a milestone in 2024. In response to PancakeSwap, the corporate has witnessed a staggering 179% year-on-year improve with buying and selling quantity of $310.6 billion throughout 9 blockchains by 2024.
This groundbreaking achievement underlines its prime place as a multi-chain DeFi potential. A number of layer 2 chains equivalent to Arbitrum and Base led this milestone. The event displays PancakeSwap’s continued multichain dominance and progress.
PancakeSwap reaches $310 billion in buying and selling quantity with 179% year-over-year progress
The favored decentralized trade revealed that reaching a buying and selling quantity of $310.6 billion with a rise of 178.97% year-on-year by 2024 is a exceptional success. It added that this reveals rising accessibility and innovation. Its whole worth was $2.17 billion, whereas the platform noticed participation from greater than 14.38 million distinctive merchants.
The gorgeous progress signifies PancakeSwap’s environment friendly scaling operations throughout as much as 9 blockchain networks. They take into account BNB Chain, Base, Arbitrum, zkSync, Linea, Ethereum, Aptos, opBNB and Polygon zkEVM.
Supply: PannenkoekSwap
PancakeSwap leverages the excessive throughput and low price of the L2 chains equivalent to Base, Arbitrum and opBNB to draw numerous shoppers. On this regard, the platform offered them with an accessible and seamless DeFi expertise.
The platform’s record-breaking progress displays its unparalleled means to scale and adapt throughout completely different blockchain ecosystems. In consequence, PancakeSwap enjoys the standing of a go-to DEX that facilitates customers all over the world.
Upgrades equivalent to PancakeSwapX and Spring Board meet customers’ wants
Key contributors to PancakeSwap’s unprecedented success in 2024 included launching tasks that addressed actual person wants. The respective improvements and upgrades in swaps, bridging, and farming sought to extend accessibility and effectivity. Moreover, the platform has skilled vital traction together with reputational progress, attracting a number of new shoppers.
PancakeSwap’s notable upgrades embody PancakeSwapX with zero-fee and gasless swaps on Arbitrum and Ethereum. One other improve was the SpringBoard token launch pad without charge to the BNB Chain.
As well as, the platform additionally provided AI-driven prediction markets on Arbitrum together with Telegram bots to streamline Telegram-based predictions and token swaps. As well as, the Pancakeswap Bridge facilitated cross-chain transactions between eight chains. Moreover, it additionally permits multi-chain help on opBNB, Polygon zkEVM, Base, Linea and extra with Gauges Voting and veCAKE upgrades.
Technological success of 2024 fuels momentum for 2025
In response to PancakeSwap, with these developments in 2024, its know-how enterprise has been fairly fruitful. Moreover, it burned as much as 455.5 million $CAKE tokens to extend long-term stability. Moreover, the platform now has 1.79 million $CAKE holders worldwide.
These Milestones be certain that PancakeSwap stays a dominant participant within the sector. This additionally raises morale for a brand new, diligent journey via 2025 to form a viable multi-chain future.