PancakeSwap (CAKE)

DEX Rank #26 MODERATE
6.0 /10

Score breakdown

Unlock10/10
Tokenomics7/10
Insider7/10
Onchain6/10
Dev Activity1/10
Revenue5/10
Institutional4/10
Etf3/10
Market Structure7/10
Security7/10

Analysis

PancakeSwap's deflationary tokenomics burned 2.1M CAKE in Q1 2026, reducing total supply to 388M tokens. As BNB Chain's dominant DEX with $890M TVL, it expanded to 8 chains including Ethereum and Polygon. V4 launched with concentrated liquidity and 60% gas savings, driving volume to $12B monthly. Revenue sharing with vCAKE holders distributed $34M in 2025. The prediction markets feature reached $180M in bets. However, dependence on BNB ecosystem creates concentration risk, and competition from newer DEX models pressures market share. Regulatory scrutiny of prediction markets poses additional compliance risks.

Disclaimer: This analysis is for informational purposes only and is not investment advice. Crypto investments carry high risk. DYOR โ€” Do Your Own Research.