Pancakeswap, a Multichain decentralized (DEX) scholarship, said a record volume of $ 325 billion for June, the highest volume of monthly trading in the five-year history of the platform.
The total of June exceeded $ 174 billion in May and pushed the volume of the second quarter of Pancakeswap to $ 530 billion, more than double the $ 211 billion recorded in the first quarter, according to Dune Analytics.
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The increase in activity follows a series of recent upgrades, including the deployment of April by Pancakeswap Infinity, which has introduced several features designed to improve user experience and trading efficiency.
The upgrade has introduced lower gas costs, customizable liquidity pools using “hooks” and support for advanced liquidity suppliers via types of Clamm and LBAMM swimming pool.
Chef Kids, Pancakeswap manager, told Cintelegraph that Pancakeswap Infinity offers key advantages for developers and liquidity suppliers. For developers, the platform allows new types of swimming pools and personalized hooks to be integrated without redeploying smart contracts or launching new versions, which “considerably lowers general development costs and accelerates innovation,” she said.
For suppliers of liquidity, the features “allow a more precise capital allowance”, helping to meet challenges such as the ineffectiveness of capital and impermanent loss, she added.
Crossed trading features were also added on June 11, allowing users to exchange assets through the BNB, Ethereum and Arbitrum chain without the need for bridges or application switching.
“We are also developing new tools to simplify integration and improvement of conviviality,” chief Kids told Cointelegraph. It also cited the launch of July 1 of a V3 liquidity pool on Solana as a major step in the expansion of the scope of the platform.
Dominating the BNB channel, Pancakeswap closes on Ethereum
Pancakeswap recently experienced rapid growth in the volume of exchanges. According to Defillama, its 30 -day volume increased to $ 153 billion, ranking first among all DEX, while the volume of UNISWAP during the same period was $ 83.4 billion.
However, this growth is still widely focused on a single chain. Pancakeswap currently only supports nine channels, much less than the UNISWAP 37. In the second quarter, 96.7% of the total Pancakeswap trading volume comes from the BNB channel, where the volume has reached $ 513 billion. Its market share on the BNB channel in June was only 96.8%.
On the other hand, the presence of Pancakeswap on Ethereum remains limited, with a market share of only 0.3% in June, in particular modest compared to the 77.2% of Uniswap.
However, data on dunes show that Pancakeswap has recorded cumulative volumes of $ 29 billion on the basis, $ 25 billion on Arbitrum and $ 21 billion on Ethereum, reporting regular progress in its multi -hole expansion strategy.
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