![]() ![]() Since then, AMMs have become the standard for decentralized exchange platforms, and Uniswap is still the biggest DEX out there in terms of trading volume and liquidity. Uniswap pioneered the AMM model when it was launched back in November of 2018. Uniswap - The Pioneer of DEX Trading Alternative In this article, we’ll be going through the 10 best decentralized exchanges that are similar to PancakeSwap. This is especially important if you’re planning to use blockchains like Ethereum, where PancakeSwap isn’t available. Trade on PancakeSwap The 10 best decentralized PancakeSwap Alternatives You should ConsiderĮven though PancakeSwap is a highly successful and popular option for Binance Smart Chain users, it’s always useful to know all the options that are available on the market. In this sense, the platform has grown beyond being just a simple Uniswap BSC alternative. The PancakeSwap team did not just stop at launching a Uniswap fork, as they have managed to expand PancakeSwap into a fully-fledged DeFi platform that also offers yield farming, non-fungible tokens, Syrup Pools, and other unique features. PancakeSwap also has its own token called CAKE, which has a variety of use cases – for example, CAKE can be staked in Syrup Pools to earn new tokens, to participate in the PancakeSwap Lottery, and vote on governance proposals. The basic functionality of PancakeSwap is very simple from a user’s perspective – connect your wallet, select which token you want to spend and which token you want to receive, and the smart contracts will take care of the rest. PancakeSwap is an automated market maker (AMM) and a fork of the Ethereum-based Uniswap. ![]() ![]() PancakeSwap is the most popular DEX on Binance Smart Chain One of the most prominent decentralized exchanges at the moment is PancakeSwap, which serves users on the Binance Smart Chain (BSC) blockchain. The first decentralized exchange to reach massive trading volumes was Uniswap, which emerged as the go-to platform for trading tokens directly on the Ethereum blockchain.Īs smart contract platforms other than Ethereum started gaining popularity, new decentralized exchanges were built to give users a way to trade cryptocurrencies in a decentralized manner, regardless of which blockchain they preferred. Starting with 2020, however, decentralized exchanges started to truly take off, alongside the broader decentralized finance (DeFi) movement. Just a few years ago, decentralized cryptocurrency exchanges were a very small niche that was only used by hardcore blockchain enthusiasts. ![]()
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