Decentralized exchange

PancakeSwap

Live data · updated every hour

PancakeSwap is the largest exchange on BNB Chain and now runs on 11 networks.

TVL rank#12CategoryDEXChains11SinceSep 2020

All DeFi protocols

Total value locked$2.32B−0.4% in 24h · +1.1% in 7d

Fees · 24h$541K$21.47M over 30 days

Revenue · 24h$179K$85.18M annualized

Revenue share33%Share of fees kept over 30 days

CAKE price$2.46−0.4% in 24h

Market cap$780MFully diluted $985M

Mcap / TVL0.34Token value per $1 locked

Chains1196.8% on BNB Chain

PancakeSwap TVL

Assets deposited in PancakeSwap across 11 chains, in US dollars.

Value locked$2.32B2.39% of all DeFi

Change · 1Y−$304M−11.6% over the period

Period high$2.92BOct 14, 2025

Period low$1.91BFeb 6, 2026

Total value locked Touch the chart for valuesHover the chart for values

Supported chains

Deployed on 11 chains. BNB Chain holds 96.8% of deposits.

BNB Chain96.8%$2.24B Ethereum1.2%$28.7M Base1.0%$24.0M Arbitrum0.4%$8.6M Solana0.3%$6.8M Robinhood Chain0.1%$2.7M 5 other chains0.2%$3.7M

Fees & revenue

Monthly fees paid by users and the share PancakeSwap keeps as revenue. The current month is to date.

Fees · 30d$21.47M$3.85M in the past 7 days

Revenue · 30d$7.00M$1.27M in the past 7 days

Annualized revenue$85.18MPast 30 days, annualized

Price to sales9.2×Market cap ÷ annualized revenue

FeesRevenue Last 12 months

About PancakeSwap

What it does, how it earns and what the CAKE token is for.

PancakeSwap is a decentralized exchange that runs on several blockchains, including BNB Smart Chain. It is an automated market maker, letting two tokens be swapped without a traditional order book.

CAKE is the exchange token of PancakeSwap, tied to the running of the exchange. The protocol offers swaps, concentrated liquidity pools and perpetual futures. As of 2026, it takes deposits on more than 10 chains, most on BNB Chain, and liquidity providers earn the pool fees while part of the trading fees is kept by the protocol as revenue.

CategoryDEX

LaunchedSep 2020

Chains11

TVL rank#12 of 32

CAKE token$2.46−0.4%

Market cap$780M

Fully diluted value$985M

Circulating supply318M CAKE

Max supply400M CAKE

Mcap / TVL0.34

79.6% of max supply in circulation

PancakeSwap FAQ

Short answers to what people ask most.

PancakeSwap is a DeFi protocol for DEX trading.

PancakeSwap is governed by the holders of its CAKE token.

According to its developers, it offers trading, earning and owning crypto in one multichain exchange.

PancakeSwap news

Coverage of the protocol, its category and its chain.

All news

Similar protocols

Other DEXs, ranked by value locked.

All protocols

UniswapDEX$3.97B+1.9% 7d CurveDEX$1.39B−1.1% 7d RaydiumDEX$1.34B+1.9% 7d AerodromeDEX$401M+1.8% 7d