2024 was a transformative year for PancakeSwap, as we doubled down on our mission to bring DeFi back to its roots—accessible, simple, and empowering for everyone. Here’s a quick recap of the highlights and what’s next.

Numbers That Matter: Key Achievements in 2024

At PancakeSwap, we let the numbers do the talking. Here’s a look at the major milestones we reached:

• Total Trading Volume: $310.6B across 9 blockchains, reflecting a 179% YoY growth from $111.3B in 2023 to $310.6B in 2024.
• 2024 Highest Daily Trading Volume: $3.47 billion on December 16, 2024
• Total Value Locked (TVL): $2.17B
• Total Unique Traders: 14.38M+ users

We focused on providing a seamless, multi-chain experience that’s easy for anyone to access, making PancakeSwap the go-to DEX for millions of users worldwide.

CAKE: Fueling Growth & Sustainability

CAKE remains the backbone of PancakeSwap’s ecosystem, driving value for holders and supporting long-term growth.

• 455.5M CAKE Burned in 2024, increasing scarcity
• 5.3M CAKE Net Burned, reinforcing the ecosystem’s strength
• 1.79M CAKE Holders globally, fueling the token’s sustainability
• 1.37% of the Total Supply Burned, boosting scarcity

Through strategic burns and strong community support, CAKE continues to play a critical role in ensuring the long-term success and stability of the PancakeSwap platform.

Putting User's Experience First: Products That Matter

In 2024, PancakeSwap focused on delivering products that solve real user needs, making DeFi more efficient and accessible than ever:

• Gauges Voting & veCAKE Upgrade: Multi-chain support on Base, Polygon zkEVM, Linea, opBNB, and more, with external bridging platform integrations like StakeDAO and Hidden Hand.
• PancakeSwapX: Gasless, zero-fee swaps on Ethereum and Arbitrum.
• SpringBoard: A no-code, zero-fee platform for launching tokens on the BNB Chain.
• AI-Powered Prediction: The first AI-powered predictions in DeFi on Arbitrum.
• Telegram Swap & Prediction Bot: Swap and predict DeFi assets directly within Telegram.
• Swap, Farm, and Bridge Page Upgrade: A sleeker, faster, and more intuitive user interface.

v4 Development & Milestones

2024 marked a major milestone for PancakeSwap v4 with key achievements:

• v4 Whitepaper: Released at EthGlobal London in March.
• $500K Developer Grant: Supporting hackathons and workshops at EthGlobal London and Brussels, with 20+ submissions at each event.
• v4 Online Hackathon (collaboration with Brevis): 115 hackers, 26 builds, 5 winners.
• $50K Yield Enhancement Grant: This grant encourages the development of strategies to optimize LP yields.
• Keynotes & Panels: PancakeSwap also delivered v4 keynote presentations and participated in panels with partners such as Linea, Monad, Chainlink, and more.

v4: Where We Are Now and Looking Ahead to 2025

At PancakeSwap, we’ve always prioritized user security, believing the best results come from careful, thoughtful work. While we had initially set a target for a Q3 2024 release, we’ve chosen to take a bit more time to conduct additional security audits and gather further feedback. We've completed the first round of audits and are using this valuable input to refine and enhance the protocol.

Rather than rushing the process, we focus on delivering a product that meets the highest standards and is ready for the community. We’re currently in the final stages of internal testing, making final tweaks based on feedback to ensure the best possible outcome.

Looking ahead to 2025, we're confident that the extra care we’re putting into this release will result in a secure, seamless launch. We appreciate the community’s patience as we continue fine-tuning PancakeSwap v4 to ensure it’s the best it can be.

A Global Community: Growing Stronger Every Day

PancakeSwap's community continued to expand globally in 2024, fostering deeper connections and engagement across regions:

• Global Expansion: 6 Community meetups in Turkey, Brazil, Spain, Vietnam, and Nigeria
• 2.37M+ Social Media Followers across platforms
• 40+ Ambassadors driving engagement worldwide
• Event Highlights: PancakeSwap attended major blockchain events, including ETHGlobal London, BNB Incubation Alliance, ETHGlobal Brussels, ETH CC, Live on Linea, Binance Blockchain Week, and more.

Our global community continues to grow stronger, creating meaningful connections and solidifying PancakeSwap’s position as a DeFi leader.

Looking Ahead: This is only the beginning

2024 was a year of tremendous growth, but none of it would have been possible without the incredible support of our community. Together, we’ve turned ambitious goals into concrete achievements, transforming PancakeSwap from a platform into a thriving global ecosystem.

As we look ahead to 2025, we’re more excited about what we’ll accomplish together. The journey is just beginning, and we can’t wait to continue building a better, more inclusive DeFi future with you.

Thank you for making PancakeSwap your home in DeFi.

With gratitude,

The Chefs 🥞

The data presented in all the visuals and all the blog information have been collected and verified up to 20 December 2024.