After The FTX Collapse DEXs Are On The Rises | Data On PancakeSwap

PancakeSwap native chain is Binance Smart Chain BSC and has been the main driver behind the growth of DeFi on that chain. Since very recently they have expanded to Ethereum as well, but the liquidity there is still very small.
Although not a native Ethereum app Pancake is holding a lot of TVL and is making significant daily trading volumes. From all the DEXs in terms of trading volume Pancake is just behind Uniswap and Curve.
Through the year Pancake has implemented new features like orders and perpetual trading with leverage.

Let’s take a look at some of the data!

Splinterlands using the Pancake platform for the SPS token is a showcase for its usability in the space. The centralization aspect of BSC always will remain as a con, but for what is worth Pancake started without presale, premine etc. All the tokens in circulation were distributed as rewards to the users and liquidity providers on the platform.

Here we will be looking at:

• Total Value Locked TVL
• Trading Volume
• Numbers of users
• Top pairs
• Inflation
• Price

The period that we will be looing at is 2022.

PancakeSwap has been around since September 2020, but we will take a closer look at the last year.

Total Value Lock TVL on Pancake In 2022

Here is the chart.

An overall downtrend in 2022 up to May. After May we can see an almost stagnat TVL around the 3 billion mark.
The year started with more than 5B in TVL with a sharp in May. This is the time when the LUNA/UST collapsed, and all the market went down. Since then, we can see a constant TVL around the 3B mark. Recently there has been a small increase in the TVL and a drop again to under 3B.

Trading Volume

Here is the chart for the trading volume.

The trading volume has seen even bigger drop then the TVL. At the begging of the year on occasions Pancake had 1B in trading volume per day, but most around the 700M. A drop since then and in the summer of 2022 the daily trading volume has been in the range between 100M to 200M per day. ‘
There has been a recent spike up to 600M trading volume when the FTX volatility happened. An increase to 600M and back to 200M again.

DEX VS CEX Volume

If we take a look at the data for the trading volume on the other exchanges provided by some of the aggregators like coingecko the numbers looks like this.

We can notice that Pancake is just entering this ranking around the 10th place. Uniswap for example is much higher on the ranks with no.3. Still not bad for an non ETH DEX to even show up as an top exchange in the world.

Numbers Of Users in 2022

The chart for the Pancake users in 2022 looks like this.

The downtrend is obvious here as well.
The year started with 500k DAUs and now it is around 150k DAUs. There has been a spike up to 250k when the market dropped at the beginning of November.

Top Pairs

Here is the table for the top 10 pairs on November 2022.

The stabelcoin BUSD-USDT pair is on the top with 214M in liquidity. There is a total of three stabelcoin pair in the top 10. It is not surprising to see the stablecoins as a top pair having in mind the current market conditions.

The BNB token is dominant in the top 10 pairs with 5 pools. The top one is the BNB-CAKE pool with 191M. The BNB-BUSD on the third spot with 171M.

CAKE Supply

Here is the chart for the CAKE supply.

CAKE inflation is a bit wonky with print to burn coins.

Initially CAKE had a 40 tokens per block inflation, then they reduce it to 25 and again to 15 tokens per block. The thing is the reduction in the inflation is not effective but, the difference is printed and then burned. Also, there are burnings from lottery, IFOs, prediction markets, account registrations etc.
If we take the effective supply only we get this.

Almost at 350M tokens in circulation now.
There is an obvious slowdown in the effective inflation for CAKE but it is still relatively high.
At the beginning of the year the CAKE supply was at 261M and now it is 346M. It means that a total of 85M new tokens were added in the year till now. The year will probably end with somewhere around 100M new tokens and effective inflation of 28%. This percent is not as high and we can say that it might be somewhere reasonable.

This is still much better than the previous year when the CAKE inflation was more than 300% and there was 170M new tokens added. The downside of this is that the yield are now smaller.
The team behind CAKE has stated that their long-term vision is to make CAKE inflation neutral.

Monthly Burned CAKE

The chart for the burns on a monthly level looks like this.

We can notice some months have an uptrend in the amount of tokens burnt. October is a moth like that with 35M tokens burnt. Note that a lot of these tokens comes from tokens that should been released in the first place and it is more of a marketing strategy.
The part that is important is CAKE that is burnt from trading fees and some other mechanics, like lottery etc.

Price

At the end the chart for the price.

A big drop in the first half of the year and especially in May.
The year started with CAKE trading around 12$ and by June the token dropped to 3$. Since June we can see a slow uptrend with the token trading at 5$ at times.
A drop again with the recent events in the market and it is now standing around the 4$ mark.

At the moment CAKE is ranked at the 69 spot with 566 million in market cap.

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Overall, 2022 has been a bad year for Pancake following the market trends. The token still kept a significant amount of TVL that has been holding steadily in the second half of the year. DAUs have been going down with occasional spikes when there is a market volatility. Same as for the trading volume.

With the limit orders and even futures addition anyone that doesn’t want to use CEX and KYC can trade on Pancake. Having in mind that Pancake is apart from the greater Binance family, they have some experience in building exchanges.

All the best
@dalz

Posted Using LeoFinance ^Beta