ISLAcore NFT meets hype on Core DAO with Testnet Purchase Test
PancakeSwap now accounts for more than 50% of TVL on the growing Aptos chain, reflecting its status as the dominant DEX on the BNB Chain.
PancakeSwap Clearly Top DeFi Dapp on Aptos, BNB Chain
The chefs have done it again. PancakeSwap has broken the 50% barrier in terms of Total Value Locked (TVL) on the Aptos blockchain, meaning that the majority of Decentralized Finance (DeFi) funds are on the platform.
PancakeSwap is not only the dominant one Decentralized Exchange (DEX) on both BNB Chain and Aptos, but it is head-and-shoulders above competing DeFi Decentralized Applications (Dapps) on those chains. DEX marked its Aptos achievement with a celebratory Tweet.
According to DefiLlama, PancakeSwap has captured 53% of TVL on Aptos and 44% on BNB Chain — with those numbers rising if you exclude floating stake numbers.
DEX has $29.5 million in TVL on Aptos and $2.3 billion on BNB Chain – in each case nearly three times the TVL amount of the next ranked Dapp.
While the total TVL on BNB Chain has essentially flatlined since summer 2022, TVL on Aptos has steadily increased since the chain was launched in October.
However, PancakeSwap is still taking small bites of the biggest flapjack of them all, Ethereum, with $12.6 million of the chain’s total TVL of $48.7 billion (about 2.5%).
Like a prison cafeteria, major DEXs watch their rivals’ plates on other blockchains, with Ethereum’s UniSwap considering taking a bite out of the BNB Chain and Avalanche’s Trader Joe’s having a BNB chain “table for two” reserved for the DEX and NFT Marketplace.
What is PancakeSwap:
PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain. It offers users various features such as liquidity pool, exchange, yield farming, syrup pool, Automated Market MakerInitial farm offer (IFO), NFT profile system and many others.
In addition, the protocol helps users make the most of crypto assets by trading, earning through yield farming and winning via lottery, prediction and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BNB chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub
What is Aptos:
Aptos is a new, independent project focused on delivering the most secure and production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers and builders of Diem, the blockchain first built to serve this purpose.
Where to find Aptos Labs:
Website | Twitter | Telegram | Medium | Discord |
What is BNB chain:
Formerly known as Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized and censorship-resistant blockchain powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitates a multi-chain ecosystem. Through the MetaFI concept, BNB Chain aims to build the infrastructure to run the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Website | Twitter | Disagreement | Telegram | GitHub |
