PancakeSwap

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<a href="https://bsc.news/post/pancakeswap-defi-comprehensive-platform-guide">PancakeSwap</a> in 2025 has expanded far beyond its original role as a <a href="https://bsc.news/post/what-is-bnb-chain-layer-one-blockchain-guide">BNB Chain</a> decentralized exchange, adding new trading models, new chains, real-world assets, stock derivatives, and revised tokenomics. The platform now operates across several blockchains, supports advanced liquidity systems, and processes record trading volumes.&nbsp;
<h2 dir="ltr" id="span-span-strong-what-changed-for-pancakeswap-in-2025-strong-span-span">What Changed for PancakeSwap in 2025?</h2>
PancakeSwap’s 2025 updates focused on three core areas: infrastructure, product expansion, and asset diversity. Instead of adding isolated features, the platform reworked how liquidity pools operate, how users access early tokens, and how traditional assets enter DeFi.
Key developments include:
<ul>
 <li>PancakeSwap Infinity replacing the earlier v4 design</li>
 <li>Expansion to Solana, Base, and Monad</li>
 <li>Introduction of CAKE.PAD for early token access</li>
 <li>Support for stock perpetuals and tokenized real-world assets</li>
 <li>Record trading volumes and rising user activity</li>
</ul>
<h2 dir="ltr" id="span-span-strong-pancakeswap-infinity-and-the-new-liquidity-model-strong-span-span">PancakeSwap Infinity and the New Liquidity Model</h2>
<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-infinity">PancakeSwap Infinity</a> launched on April 28, 2025, and later expanded to Base. The upgrade redesigned how liquidity pools work and how fees are managed.
Infinity supports two pool types:
<ul>
 <li>CLAMM (Concentrated Liquidity AMM) Liquidity providers choose specific price ranges. This increases capital efficiency and reduces slippage for active trading pairs.</li>
 <li>LBAMM (Liquidity Book AMM) Liquidity is organized into price bins. Trades inside a bin have no price impact, making it suitable for stable or low-volatility pairs.</li>
</ul>
Before Infinity, PancakeSwap relied mostly on fixed-fee pools. The new system allows:
<ul>
 <li>Static fees that remain unchanged</li>
 <li>Dynamic fees that adjust using smart contract hooks</li>
</ul>
Hooks are external smart contracts attached to pools. They allow features such as fee discounts, automated liquidity management, and custom trading logic. Traders benefit from PancakeSwap’s Smart Router, which automatically selects the best pool across v2, v3, and Infinity.
<h3 dir="ltr" id="span-span-strong-how-pancakeswap-reduced-gas-costs-in-2025-strong-span-span">How PancakeSwap reduced gas costs in 2025</h3>
One of Infinity’s core upgrades was cost reduction. PancakeSwap introduced several technical changes to lower transaction fees:
<ul>
 <li>A singleton contract that hosts all pools, reducing pool creation costs by up to 99%</li>
 <li>Flash accounting to batch transactions</li>
 <li>ERC-6909 accounting for frequent swaps</li>
 <li>Native token swaps for ETH and BNB with up to 50% lower gas fees</li>
</ul>
These improvements made PancakeSwap more accessible for users with smaller balances while keeping advanced tools available for large traders.
<h2 dir="ltr" id="span-span-strong-pancakeswap-expands-to-solana-strong-span-span">PancakeSwap Expands to Solana</h2>
On July 1, PancakeSwap launched its&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancake-swap-v3-liquidity-pool-launches-on-solana">V3 liquidity pools</a> on <a href="https://bsc.news/post/solana-blockchain-ecosystem-deep-dive">Solana</a>. The move gave Solana users access to concentrated liquidity, NFT-based LP positions, and multi-tier fees.
Solana’s version of PancakeSwap includes:
<ul>
 <li>CLAMM-based concentrated liquidity pools</li>
 <li>Fee tiers ranging from 0.01% to 4%</li>
 <li>NFT-based liquidity positions that can be transferred or managed easily</li>
</ul>
For traders, swaps on Solana can cost as little as 0.01%. Slippage is reduced because liquidity is concentrated where trading activity occurs. While some routing still relies on external protocols, PancakeSwap does not add extra fees on top.
<h2 dir="ltr" id="span-span-strong-pancakeswap-on-base-and-monad-strong-span-span">PancakeSwap on Base and Monad</h2>
PancakeSwap Infinity&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancake-swap-infinity-goes-live-on-base">launched on Base</a> on July 22, bringing lower fees and faster settlement to <a href="https://bsc.news/post/what-is-ethereum-eth-how-it-works-explained">Ethereum</a> Layer 2 users.
Later in the year, PancakeSwap&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-monad-mainnet">went live</a> on Monad mainnet. Monad is a high-performance Layer 1 blockchain with sub-second finality and EVM compatibility. Users can now access PancakeSwap v2 and v3 liquidity directly on Monad.
This matters because:
<ul>
 <li>Developers can deploy familiar smart contracts</li>
 <li>Traders get faster execution and lower fees</li>
 <li>Liquidity providers can choose simple or advanced pool designs</li>
</ul>
Monad launched with a MON token supply of 100 billion.&nbsp;
<h2 dir="ltr" id="span-span-strong-cake-pad-replaces-the-ifo-model-strong-span-span">CAKE.PAD Replaces the IFO Model</h2>
In October, PancakeSwap introduced&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-cakepad">CAKE.PAD</a>, replacing the older Initial Farm Offering system. CAKE.PAD simplifies early token access while changing how CAKE tokenomics work.
With CAKE.PAD:
<ul>
 <li>Users only need to hold CAKE in a noncustodial wallet</li>
 <li>There are no staking pools or lockups</li>
 <li>Participation fees are permanently burned</li>
</ul>
Key features include:
<ul>
 <li>Early access to new tokens before exchange listing</li>
 <li>100% of participation fees burned</li>
 <li>Flexible commitments with no cap</li>
 <li>Tiered subscription tax during oversubscription</li>
</ul>
The first CAKE.PAD event&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-cakepad-whitebridge-event">featured WhiteBridge Network</a> ($WBAI). Over 67 million CAKE, valued at about $221 million, was committed during the event.
<h2 dir="ltr" id="span-span-strong-memecoins-and-the-meme2million-campaign-strong-span-span">Memecoins and the Meme2Million Campaign</h2>
PancakeSwap also played a major role in <a href="https://bsc.news/post/what-are-memecoins-guide-how-they-work-2025">memecoin</a> activity in 2025 through the&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/fourmeme-pancakeswap-meme2million-campaign-memecoins">Meme2Million</a> campaign, launched with <a href="https://bsc.news/post/what-is-four-meme-bnb-chain-memecoin-launchpad-guide">Four.meme</a>.
To qualify, a memecoin must:
<ul>
 <li>Launch through Four.meme</li>
 <li>Graduate to PancakeSwap</li>
 <li>Reach a $1 million market cap at UTC 00:00 on any day</li>
</ul>
As long as the token maintains that market cap, it remains active in the program. PancakeSwap tracks 50% of daily trading fees collected in memecoins, excluding LP fees, and burns them monthly. Fees collected in BNB are not burned.
All burns happen on-chain and are publicly verifiable. If a memecoin drops below the threshold, fee accumulation pauses until recovery.
<h3 dir="ltr" id="span-span-strong-build-mode-and-fair-token-launches-strong-span-span">Build Mode and fair token launches</h3>
Four.meme&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/fourmeme-launches-build-mode-on-bnb-chain">introduced</a> Build Mode, a structured system for memecoin launches. The first Build Mode project raised 83,000 BNB during its pilot phase.
Build Mode uses:
<ul>
 <li>Bonding curve launches</li>
 <li>Wallet caps to limit whale dominance</li>
 <li>Overflow queues for excess demand</li>
</ul>
After launch, liquidity is automatically deployed on PancakeSwap V3. This ensures immediate trading without centralized control.
<h2 dir="ltr" id="span-span-strong-stablecoin-growth-and-usd1-liquidity-strong-span-span">Stablecoin Growth and USD1 Liquidity</h2>
PancakeSwap became the&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/trump-backed-wlfi-joins-bnb-chain-and-pancake-swap">main trading venue for USD1</a>, a stablecoin backed by World Liberty Financial. Between May 22 and June 1, USD1 recorded $10.7 billion in trading volume.
Most USD1 activity occurs on BNB Chain:
<ul>
 <li>98.4% of supply resides on BNB Chain</li>
 <li>PancakeSwap processed $2.3 billion in USD1 volume in 30 days</li>
 <li>The largest USD1 pool recorded $143 million in 24 hours</li>
</ul>
USD1 reached over $2 billion in market capitalization and became the second-largest stablecoin on BNB Chain after USDT.
<h2 dir="ltr" id="span-span-strong-stock-perpetuals-and-real-world-assets-strong-span-span">Stock Perpetuals and Real-world Assets</h2>
PancakeSwap&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-us-stock-perpetuals">entered real-world asset</a> trading in 2025 by launching:
<ul>
 <li>US stock perpetuals for AAPL, AMZN, and TSLA</li>
 <li><a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-ondo-finance-bnb">Tokenized RWAs</a> through Ondo Finance</li>
</ul>
Stock perpetuals allow:
<ul>
 <li>Up to 25x leverage</li>
 <li>On-chain trading from self-custodied wallets</li>
 <li>Trading during US market hours only</li>
</ul>
Tokenized RWAs include stocks, bonds, and ETFs. PancakeSwap waived trading fees for the first 30 days after launch.
<h2 dir="ltr" id="span-span-strong-record-trading-volumes-and-user-growth-strong-span-span">Record Trading Volumes and User Growth</h2>
June 2025 was PancakeSwap’s&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-top-dex">highest-volume month ever</a>, with $325 billion in trades. Q2 volume reached $529 billion, more than double Q1.
The platform attracted 7.4 million unique users in Q2, according to Dune Analytics. Total cumulative volume surpassed $1.8 trillion across all chains.
<h2 dir="ltr" id="span-span-strong-conclusion-strong-span-span">Conclusion</h2>
In 2025, PancakeSwap evolved into a multi-chain trading platform with advanced liquidity models, broader asset coverage, and revised tokenomics. The platform now supports memecoins, stablecoins, stock derivatives, tokenized RWAs, and on-chain index products. With record trading volumes and expanding infrastructure, PancakeSwap remains a central venue for decentralized trading across multiple blockchain ecosystems.
<h2 dir="ltr" id="span-span-resources-span-span">Resources&nbsp;</h2>
<ol>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/cakepad-leverup">PancakeSwap announcement</a>: Introducing LeverUp on CAKE.PAD: Trader-Centric Perps Trading Built on Monad</li>
 <li>
 <a style="text-decoration:none" href="https://x.com/PancakeSwap">PancakeSwap on X</a>: Posts in 2025</li>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/cake-pad">CAKE.PAD announcement by PancakeSwap</a>: Introducing CAKE.PAD (Formerly IFO): Simplifying Early Token Access Events with CAKE</li>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/bridge-to-monad">PancakeSwap announcement</a>: Step-By-Step Guide: Bridge to Monad</li>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/cakepad-whitebridge-network">First CAKE.PAD Event on PancakeSwap announcement</a>: Introducing Our First CAKE.PAD Event on PancakeSwap: WhiteBridge Network</li>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/stock-perps">PancakeSwap Announcement</a>: Stock Perps (AAPL, AMZN, TSLA) Are Now Live on PancakeSwap Perpetuals</li>
 <li>
 <a style="text-decoration:none" href="https://blog.kraken.com/product/xstocks/tokenized-equities-now-available">Kraken xStocks announcement</a>: From Wall Street to your wallet: Tokenized equities now available on Kraken</li>
 <li>
 <a style="text-decoration:none" href="https://dune.com/pancakeswap/pancakeswap-dex">Dune analytics data</a>: About PancakeSwap DEX volume and more</li>
</ol>

PancakeSwap in 2025: Memecoins, Stablecoins, Stock Perps & More

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