PancakeSwap dominates Binance Smart Chain
PancakeSwap dominates Binance Smart Chain

PancakeSwap dominates Binance Smart Chain

By Marco Cavicchioli - 28 Sep 2020

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PancakeSwap is literally dominating token statistics on Binance Smart Chain

This is revealed by the CEO of Binance himself, Changpeng CZ Zhao, who shows a screenshot of the Binance Smart Chain token statistics page on Twitter. 

In the last 24 hours, these statistics have been literally dominated by PancakeSwap (CAKE).  

As for the number of single users who sent Cake tokens, it almost doubled the second, SyrupBar Token (SYRUP), with more than 8,100 unique users

Similar situation also for the number of single users who have received CAKE tokens, with more than 7,500, more than double the second-ranked, while in terms of total number of single users who have received or sent Cake tokens in the last 24 hours (8,400) the gap with the runner-up is lower. 

It should be noted that the first CAKE token transaction registered on the Binance Smart Chain blockchain only dates back to September 22nd, less than a week ago, so this is a project that has been dominating these rankings practically as soon as it was launched. 

As of today, among the various portals that show the trend of the prices of tokens and cryptocurrencies on the crypto markets, only CoinMarketCap has already listed PancakeSwap Token, but it is not yet able to show its value. 

PancakeSwap, the project that chose Binance Chain

What is known is that PancakeSwap is a yield farming project, launched a few days ago on the Binance Smart Chain blockchain, in some ways similar to another yield farming project launched recently on this same blockchain, BurgerSwap. So after the farm called Sushi, and the one called Burger, now there is also the one called Pancake. 

The PancakeSwap project is different though. The authors declare openly

“We’re here to have fun.

What does that mean exactly? We’re going to be trying new things, with a focus on gamification”. 

In other words, it is a yield farming project, but built like a game. While eight thousand individual users are not a very high number, the statistics of use of these tokens less than a week after their launch seem to be quite successful

While the largest DeFi projects are based on Ethereum, where the number of users is much higher, in some cases Binance Smart Chain is chosen as an alternative for ease of use, and especially for faster and cheaper transactions. However, as there are not yet many protocols running on this blockchain, it is relatively easy to climb to the top of these rankings. 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded and the Facebook group" Bitcoin Italia (open and without scam) ".

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