DEX / AMM

PancakeSwap

BNB Chain, Ethereum, Arbitrum Data as of March 2026

PancakeSwap is the largest decentralized exchange on BNB Chain and has expanded to Ethereum and Arbitrum. It offers AMM swaps with concentrated liquidity (V3), yield farming, lotteries, NFT marketplace, and a token launchpad. PancakeSwap is the primary trading venue for BNB Chain tokens.

Fee per Transaction

0.25%

V3 concentrated liquidity pools

Round Trip Cost

$4.99

Buy + Sell on $1,000

TVL

~$2.5B

Largest DEX on BNB Chain

How It Works

PancakeSwap V3 uses concentrated liquidity similar to Uniswap V3, with fee tiers of 0.01%, 0.05%, 0.25%, and 1%. The most common tier for volatile pairs is 0.25%. Stablecoin pairs use lower tiers.

CAKE staking and yield farming provide additional earning opportunities. Revenue from trading fees is used for CAKE buyback and burn, reducing token supply over time.

Gas fees on BNB Chain are significantly lower than Ethereum, typically under $0.30 per transaction.

Strengths

+Low gas costs. BNB Chain transactions cost a fraction of Ethereum mainnet, making small trades economical.

+Broad ecosystem. Beyond swaps: yield farming, lotteries, prediction markets, and NFTs in one platform.

+Multi-chain expansion. Available on Ethereum and Arbitrum with the same interface and fee structure.

Risks

xBNB Chain centralization. BNB Chain has fewer validators and more centralized governance than Ethereum.

!Token quality. Permissionless token listing means many low-quality or scam tokens are tradeable.

!CAKE inflation. Despite buyback-and-burn, CAKE emissions for farming rewards create persistent sell pressure.

Open PancakeSwap ↗ Compare Fees ↗

Disclosure: This profile is provided for informational purposes only. White & TT does not hold a position in CAKE. Fee data reflects publicly documented parameters as of March 2026. Always verify current fees on the protocol. This is not financial advice.

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