Pancakeswap, a multichein decentralized exchange (DEX), reported a record-breaking of $ 325 billion in trade volume for June, the highest monthly trading volume in the five-year platform history.
The total June exceeded the $ 174 billion of May and pushed the second-quarter volume of pancakeswap to $ 530 billion, more than the double of $ 211 billion recorded in the first quarter, according to data from Dune Analytics.
Related: Pancakeswap launches one-click crosschain swaps to simplify defi ux
Climbing the activity follows a series of recent upgrades, including the April Rollout of Pancakeswap Infinity, which introduced several features designed to improve user experience and trading efficiency.
The upgrade introduced lower gas fees, customizable liquidity pools using “hooks,” and support for advanced liquidity providers through clamm types and LBAMM pools.
Chef Kids, head of Pancakeswap, told Cointelegraph that Pancakeswap Infinity has offered basic benefits for both developers and liquidity. For those who develop, the platform allows new types of pools and custom hooks to include without re -reviewing smart contracts or launching new versions, which are “very low -increasing overhead and accelerating change,” he said.
For liquidity providers, features that “give up the more accurate provision of capital,” which helps to address challenges such as capital effectiveness and inevitable loss, he added.
Crosschain trading features were also added on June 11, allowing users to trade assets throughout the BNB chain, Ethereum and Arbitrum without the need for bridges or app-switch.
“We are also developing new tools aimed at simplifying onboarding and enhancing usability,” Chef Kids told Cointelegraph. He also mentioned the launch of July 1 a V3 Liquidity Pool in Solana as a key step in expanding the platform.
The dominant BNB chain, pancakeswap closes the Ethereum
Pancakeswap has seen a rapid growth in the recent trade. According to Defillama, its 30-day volume progressed $ 153 billioninitially ranking all the dexes, while Uniswap’s volume at the same period is $ 83.4 billion.
However, this growth is largely focused on a single chain. Pancakeswap currently supports only nine chains, less than 37 of Uniswap. In Q2, a fatigue of 96.7% of the total pancakeswap trading volume derived from the BNB chain, where the volume of $ 513 billion reached. The sharing of its market with the BNB chain in June is only 96.8%.
In contrast, the presence of pancakeswap in the Ethereum remains limited, with a component of the market of only 0.3% in June, especially the moderate compared to 77.2% of the uniswap.
However, dune data show Pancakeswap recorded the combined -with $ 29 billion in the base, $ 25 billion in arbitrum, and $ 21 billion in Ethereum, which signed a stable development strategy in Multichein expansion.
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