The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

PancakeSwap is actually an exchange built on the smart chain. It uses an automated market maker mechanism and can be used to earn tokens. The project can help users trade tokens on the Binance Smart Chain. It can also help users earn certain CAKE tokens through yield farms, or earn CAKE tokens through spotting, and earn more tokens through syrup pools. The exchange allows users to become small market makers who provide liquidity, helping them to earn commission fees and native token rewards. Many investors are still unclear whether PancakeSwap is decentralized? Let the editor of Coin Circle tell you about it.

 Is PancakeSwap decentralized?

PancakeSwap is a decentralized, "cake" exchange, Binance Smart Chain (Smart
Chain, BSC) "user address number" and "contract interaction number" leading decentralized exchange. Compared with the Ethereum public chain, the fuel fee is relatively low, and ordinary retail investors and small investors can also afford it. It is one of the Ethereum competing chains that has performed well this year.

The main business is decentralized exchange, allowing users to directly trade tokens (BEP20 protocol) by connecting their wallet addresses through "Hardware Wallet Safepal" or "Little Fox Wallet Metamask", without permission, and without identity verification (Know
Your Customor, KYC) like centralized exchanges.

Using the Automated Market Maker model (Automated Market
Maker, AMM), ordinary users can also become "small market makers" who "provide liquidity", earning "handling fee profits" generated by others in the exchange pool and obtaining additional native token rewards (CAKE).

Audited by "Blockchain Network Security Company CertiK" (Pancakeswap Audit Report), the company was founded by computer science professors from Yale University and Columbia University and is well-known in the industry.

 PancakeSwap Project Introduction

"Defi Data Monitoring Tool-Debank" shows that PancakeSwap was launched on September 18, 2021 to the date of this article. The total locked value (Total Value Locked, TVL) ranked first among the protocols on Binance Smart Chain, about 6.4 billion US dollars (6.4 B), and the total locked value of the entire chain ranked fourth. The top three are Curve, AAVE v2, and Compound. The total number of user addresses is as high as about 5.6 million groups, and the number of 24-hour active users is about 174,000. These are all very excellent data. Cross-compared with the leading decentralized exchange UniSwap on the Ethereum chain, the total number of user addresses is about 2.17 million groups, and the number of 24-hour active users is about 33,000.

Ethereum fuel fee (Gas
Fee) is not realistic for general users at this stage in terms of operating costs. Of course, Binance Smart Chain may be the first choice for general users at this stage. It depends on whether the Ethereum chain can be reduced to a situation where general users can also make profits after entering the next stage of upgrade in the future.

"Defistation Binance Smart Chain Data Monitoring Tool" shows that the total locked-in amount is about 9.1 billion US dollars (9.19B), ranking first, and there is a big gap compared with the second Venes and the third Ellipsis Finance.

After reading this article, everyone must have understood whether PancakeSwap Pancake Exchange is decentralized. The future of the currency circle must be a multi-chain era. There will not be only one chain ecology. Binance Smart Chain may face greater competition, but it will not die because of the new chain. After all, there is user inertia. The development of other chain ecosystems is closely related to the cost of handling fees. Low handling fees are very attractive. In addition, the enthusiasm of the project party. Exchanges with a certain number of users and trading heat can be favored by investors, and this requires real participants as support. At present, PancakeSwap seems to have done it.