A complementary DeFi service to PancakeSwap
Pancake Bunny, a DeFi yield aggregator that enables automatic compounding and yield farming optimization for all PancakeSwap liquidity pairs, is enjoying a bumper month of activity. The platform assists users to earn more from their CAKE tokens through BUNNY token rewards and is in essence an ‘add on’ to the popular Binance DEX.
According to DappRadar data, the Binance Smart Chain DeFi application reached almost $60 billion in volume in the last 30 days. In the same time space, the number of users swelled to over 122,000 leading to a 150% increase in transactions to 1.37 million. As a result, the total value locked across all Pancake Bunny farms and pools at the time of writing stands at over $4 billion.
The surge in metrics puts the dapp in an extremely commanding position in the overall DappRadar dapp charts when ranked by volume. In the last 30 days, Pancake Bunny has become the 6th ranked project on DappRadar.
Importantly, both PancakeSwap and Pancake Bunny are ahead of leading Ethereum DEX Uniswap, surpassing its total volume by over $24 billion and $10 billion respectively. Again, showing a shift of users towards Binance Smart Chain dapps that offer cheaper and faster transactions amidst high gas fees on Ethereum.
Overall, the fact that 5 of the top 7 dapps on DappRadar in the last 30 days operate from BSC shows a vast change in trends from 12 months ago when Ethereum dapps dominated the rankings.