Pancakeswap is one of the most successful decentralized exchanges, native to Binance smart chain.
Ranked #23 in total value locked (TVL) with over $2 billion committed to the protocol, representing approximately 1.45% of DeFi’s $138.551B TVL market.
Pancakeswap is also a leading protocol in value moved, ranking #3 in fees generated in the past 30 days behind Circle and Tether.
Annually, the protocol has generated over $1.60 billion in fees, earning $410.59 million in revenue, based on data on DefiLlama.
Pancakeswap is one of those successful products of DeFi that doesn't get praised enough due to memecoins and ponzi social projects taking the spotlight.
On recent report, the decentralized exchange is joining the growing market of tokenized assets with its perpetual stock trading launch:
PancakeSwap, one of the largest decentralized exchanges on BNB Chain, has rolled out a new product line, stock perpetuals, allowing users to trade non-expiring derivatives tied to traditional U.S. equities such as Apple (AAPL), Amazon (AMZN), and Tesla (TSLA).
Announced on Tuesday, August 5, the launch marks PancakeSwap’s official entry into the expanding market for tokenized stocks, an emerging sector that blends decentralized finance (DeFi) with exposure to real-world equities.
According to the project’s blog, the new contracts are available on its perpetual trading platform, enabling users to go long or short with up to 25x leverage, all while maintaining custody of their funds through a connected crypto wallet on BNB Chain. – Cryptopolitan report
This launch is pivotal to attracting real world assets (RWAs) enthusiasts to Binance smart chain, seeing that the chain hasn't exactly had much exposure in the growing market.
Through pancakeswap, underserved individuals who are native users of Binance smart chain can now access and speculate on the price movement of traditional US stocks. It is important to note that these are not tokenized representations of US equities but synthetic derivatives which simply track the price movements of the underlying ticker, giving traders price growth exposure without ownership rights in the traded companies.