PancakeSwap AMM
Best for audited, multi-chain deployment
How it rates
- Audit report linked from a public dataset
- Documentation published at a public address
- Deployed across 11 chains
- Several indicators could not be verified from public sources at this check
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- MetIndependent audit published with a linked report
Audit report linked from the public protocol dataset.
docs.pancakeswap.finance/#is-it-safe - MetAudit count recorded in an independent dataset
2 audit(s) recorded.
defillama.com/protocol/pancakeswap-amm - MetProtocol tracked by an independent analytics platform
Listed with published TVL and history.
defillama.com/protocol/pancakeswap-amm - Met
- MetApplication reachable at a public address
Reachable without an account at this check.
pancakeswap.finance/
- MetDocumentation published where fees are described
Documentation reachable for fee review.
docs.pancakeswap.finance/ - Met
- MetIndependent dataset publishes protocol economics
TVL and change history published independently.
defillama.com/protocol/pancakeswap-amm - PartialFee model documented publicly
Documentation available; specific fee tiers not captured at this check.
docs.pancakeswap.finance/ - Met
- MetTracked with published total value locked
TVL $1,748m at this check.
defillama.com/protocol/pancakeswap-amm - Met
- Met
- Met
- PartialListed on the independent dataset for over a year
Listing date recorded in the dataset.
defillama.com/protocol/pancakeswap-amm
- MetIndependent analytics page published
Public protocol page with history.
defillama.com/protocol/pancakeswap-amm - Met
- Met
- MetProtocol identity and chains disclosed
Chains and category published: Dexs.
defillama.com/protocol/pancakeswap-amm - Met
- Met
- Met
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The largest DEX in this comparison by value locked, holding $1.75bn across 11 chains with audit reports published and linked.
Our assessment
PancakeSwap holds $1.75bn at this check, more than any other DEX here, spread across 11 chains. It began as a BNB Chain venue and became a genuinely multi-chain protocol, with two recorded audits whose reports are linked publicly.
Scale on cheap chains attracts different users
Ethereum mainnet transaction costs price out small trades entirely, so DeFi there skews toward large positions. PancakeSwap's centre of gravity has always been chains where a swap costs cents, which produces a much broader user base and far higher transaction counts for the same value locked. That is a different business, and its liquidity profile reflects it.
What the token emissions do
Much of the liquidity is incentivised by CAKE emissions rather than by fee income alone. Incentivised liquidity is real while the incentive lasts and leaves when it stops — a pattern seen across DeFi repeatedly. A depth figure supported by emissions is worth less than the same figure supported by trading fees, and comparing venues means knowing which you are looking at.
Documentation and audits are published
Two audits with linked reports, published fee documentation and reachable technical documentation put it near the top of our transparency indicators. In a category where a third of protocols have no linked audit report at all, that matters more than a fractional difference in TVL.
Who it suits
PancakeSwap fits traders on BNB Chain and other low-fee networks who want deep liquidity and cheap execution. Traders needing the widest chain coverage should use Uniswap; those trading stablecoins should use Curve.
How rivals compare
Frequently asked
Does this score mean PancakeSwap AMM is safe to use?
No. It measures what an outsider can verify: linked audits, published documentation and independently recorded market data. Contract behaviour is not tested by us.
Where does the TVL figure come from?
An independent public analytics platform, queried at the verification date. Anyone can re-run the same query.
Why do some protocols score zero on audits?
Because no audit report is linked in the public dataset. It records what a user can reach, not a claim that no audit was ever performed.