Overview
PancakeSwap (Aptos) launched in 2023 as part of PancakeSwap’s multichain expansion. It brings the familiar AMM model and CAKE token to the Aptos Layer-1 ecosystem, running separate liquidity pools for Aptos-native assets.
What It Is
This DEX uses an AMM design like the BNB Chain version. Users connect an Aptos-compatible wallet, swap tokens, supply liquidity, and pay minimal fees. There is no KYC, and token custody stays with the user. The platform supports bridging CAKE and USDT from BNB Chain via LayerZero.
Activity, Volume and Liquidity
Daily trading volume is modest, around 50,000 USD, across 15 tokens and 21 pairs. Liquidity is concentrated in APT/USDC and CAKE/APT pools, while smaller pools remain shallow. Market depth overall is thin.
Core Features and Tools
- Standard AMM pools for swaps and fee earnings
- Swap fee 0.25%, split between LPs and treasury
- Wallet-only interaction with no accounts
- Permissionless, open-source smart contracts
- Fast execution and negligible gas cost on Aptos
Governance and Token
The CAKE token continues to power staking and farming across chains. On Aptos, governance and yield strategies are still evolving, with more features planned for liquidity providers and token holders.
Security and Risk
The codebase inherits audits from the BNB Chain version but remains newer and less tested. No major exploits have been reported, but risks typical of AMMs and new chain integrations apply. Low volume adds liquidity risk.
Strengths and Weaknesses
- Strengths: Proven DEX model with brand trust; Low fees and fast transactions; Multichain CAKE support; Backed by strong community.
- Weaknesses: Low volume and shallow liquidity; Limited asset selection (about 15 tokens); Early-stage chain risks; No fiat integration.
Who It’s For
PancakeSwap (Aptos) suits traders exploring new chains and early liquidity providers. It’s good for DeFi users bridging CAKE and farming on Aptos but not for high-volume traders seeking deep markets.
Final Thoughts
PancakeSwap on Aptos delivers the core AMM experience on a fast new chain. It’s smooth and familiar but limited by low liquidity and early adoption. A playground for early DeFi users rather than a full-scale trading hub.