PancakeSwap Hits Daily Record Volume of $1.2B Following Newly-Launched Token Generator

PancakeSwap, a popular decentralized exchange (DEX) native to BNB Chain, reached a milestone with a historic single-day trading volume of $1.27 billion on December 4. This marks a 23.61% increase from the day prior.

On-chain data revealed that popular tokens largely drove the surge in trading volume. Wrapped BNB (WBNB) contributed $894.4 million, Tether USDT brought in $824.86 million, and Ethereum accounted for $175.99 million.

PancakeSwap Launches Token Generator

The rise in trading activity follows the introduction of PancakeSwap’s new token generator, PancakeSwap SpringBoard. The tool aims to simplify the process for developers to create and launch tokens on the BNB Chain. With SpringBoard, users can generate tokens in minutes without technical skills or fees.

PancakeSwap sees the initiative as a key step in advancing decentralized finance (DeFi) by lowering the barriers for creators to launch and grow their projects. Chef Kids, PancakeSwap’s Head Chef, emphasized the platform’s easy-to-use nature, which aims to simplify DeFi for creators.

PancakeSwap’s Milestones

PancakeSwap’s recent achievement adds to its series of milestones in recent months. In September, the DEX reported $836 billion in total trading volume since launch, with a TVL of $1.72 billion at the time. This marked a significant decrease from its all-time high of $7.16 billion in May 2021, as per DefiLlama data.

Since then, PancakeSwap’s TVL has been on a steady decline, dropping from $2.42 billion in March 2023 to its current levels. To address the downturn, the platform has prioritized improving its tokenomics and refining its growth strategy.

As part of these efforts, PancakeSwap took a significant step in December 2023 when its community voted to reduce the maximum supply of its native token, CAKE, from 750 million to 450 million—a 300 million token cut aimed at boosting its value.

Furthermore, in March 2024, PancakeSwap revealed plans to launch its version 4 (v4), introducing features such as hooks, custom pool types, singleton, and flash accounting. These upgrades aim to improve the efficiency and cost-effectiveness of on-chain trading. The v4 update was officially rolled out in Q3 2024.