BNB

PancakeSwap Attains Majority Share of TVL on Aptos Chain

by BSCN

January 10, 2023

PancakeSwap now accounts for more than 50% of the TVL on the growing Aptos chain, mirroring its status as the dominant DEX on BNB Chain.

PancakeSwap Clearly the 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 the majority of Decentralized Finance (DeFi) funds are on the platform.

PancakeSwap is not only the dominant Decentralized Exchange (DEX) on both BNB Chain and Aptos, but it is head-and-shoulders above competing DeFi Decentralized Applications (Dapps) on those chains. The DEX marked its Aptos achievement with a celebratory Tweet.

📈 We've reached new heights as we've achieved over 50% dominance on @Aptos_Network.

🤝It's a testament to the team's hard work and dedication, as well as the community's support. pic.twitter.com/xdSv2cSzeC
— PancakeSwap 🥞 #Multichain (@PancakeSwap) January 10, 2023

According to DefiLlama, PancakeSwap has captured 53% of TVL on Aptos and 44% on BNB Chain -- with those figures rising if you exclude liquid staking numbers.

The 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 overall TVL on BNB Chain has essentially flatlined since Summer 2022, the TVL on Aptos has steadily increased since the chain launched in October.

However, PancakeSwap is still taking tiny nibbles out of the biggest flapjack of them all, Ethereum, with $12.6 million out of the chain’s total TVL of $48.7 billion (approximately 2.5%).

Like a prison cafeteria, major DEXes are eyeing their rivals’ plates on other blockchains, with Ethereum’s UniSwap considering taking a bite out of BNB Chain and Avalanche’s Trader Joe having a BNB Chain “table for two” reserved for its DEX and NFT Marketplace.

What is PancakeSwap:

PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.

In addition, the protocol helps users make the most out of their 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 safest and most production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was first built to serve this purpose.

Where to find Aptos Labs:

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.