Decentralized exchange PancakeSwap has launched perpetual swaps for Apple, Amazon, and Tesla shares, expanding its trading options.
Support for Perpetual Swaps on Stocks
PancakeSwap now offers perpetual swaps for AAPL, AMZN, and TSLA stocks. These contracts track traditional market stock prices, though trading is limited to standard exchange sessions. In contrast, crypto and forex pairs like BTCUSD, ETHUSD, BNBUSD, and others are available for trading year-round.
Platform Enhancements
The platform introduced perpetual swaps in 2022 and significantly upgraded its interface and liquidity using the ALP pool. Additionally, price oracles from Pyth, Binance Oracle, and Chainlink have been integrated, along with the removal of the order book. Users can now trade directly from their wallets, eliminating the need to transfer assets to the exchange.
Market Position and Growth of PancakeSwap
According to DeFi Llama, PancakeSwap ranks as the second-largest decentralized exchange (DEX), with a daily trading volume exceeding $1.7 billion. The platform's total value locked (TVL) stands at $2.01 billion. In July, PancakeSwap generated over $28.6 million and processed $146.6 million in trading fees, although its native token CAKE saw only a minimal increase of 0.5% in the past 24 hours.
PancakeSwap continues to expand its trading capabilities by adding new instruments and improving its features, maintaining its significance in the decentralized finance market.
