DEXs are popular these days and allow for the swapping of crypto coins. PancakeSwap Vs. Apeswap is a title meant to compare the two platforms and give an apparent functioning of each.
PancakeSwap Vs. Apeswap
PancakeSwap is a BEP-2 token built on Binance Chain. Developers of the exchange are Binance, the largest crypto exchange globally. PancakeSwap has a total of $27 billion in trades per day. In contrast, Apeswap is an alternative to PancakeSwap, and it aims to provide a better trading experience by offering liquidity to yield farming in pools.
Exchange Tokens
ApeSwap users earn $BANANA as a token result of yield farming, hence the name Apeswap. Users can stake and access exclusive features using the token.
However, in PancakeSwap, investors can make money through several ways to earn CAKE. Staking is one process where $users purchase the CAKE tokens and store them for profit as the value rises.
The process of earning is more or less the same; the only difference comes in the network and transaction speeds. The other key difference is also in the bridges that both DEXs use. PancakeSwap emulates ERC20 tokens using its BEP-20 tokens, whereas ApeSwap imitates PancakeSwap.
ApeSwap and CakeSwap Developers
The developers of the DEX are DeFi Apes, a large community of DeFi and ApeSwap Jungle. It has an improved trading environment compared to PancakeSwap, whereas, Former Binance employees are behind the development of the DEX. The platform is also very secure because of verification from Certik.
Rewards
Traders can earn $BANANA via staking pools, yield farming, and the ApeSwap lottery, where users can win big.
Some exchanges act as automated market makers (AMM), which allows for a discussion. Users can also access exchange servers. PancakeSwap is also an AMM.
It contains a bridge where users can swap different CAKE tokens, from BEP-20 to BEP-2 tokens. The only difference is that BEP-20 tokens allow for smart contracts execution and self-executing agreements under appropriate conditions.
There is also a Cake Lottery and liquidity platform. Liquidity allows users to pledge CAKE tokens and triple yields with more than 60% yearly value. This is the second layer of returns.
Gas Fees
Polygon uses relatively low fees, which makes ApeSwap more scalable. Transactions are cheaper than BSC transactions. However, BSC transactions are faster because the polygon network is still in its Beta Stages but fit for trading use. Therefore, ApeSwap is more scalable than PancakeSwap, which is faster than ApeSwap. Apeswap also has cheaper transactions.
Summary
PancakeSwap
- Uses Binance Smart Chain( BSC) Network
- Available Supply: 233,345,000 tokens
- Uses $CAKE for Cryptocurrency token
- Faster transactions in comparison to ApeSwap
- A much older DEX
ApeSwap
- Decentralized non-custodial DEX
- Built on Binance Smart Chain and Polygon Networks
- Uses $BANANA as a cryptocurrency token
- Available Supply: 67, 468, 600 tokens
- Slower transactions in Comparison to ApeSwap
- Scalable
- A later DEX
Choice of DEX
A trader will choose a DEX based on trading fees and preferences. It is not fit to say that ApeSwap is a better exchange than PancakeSwap, but it is fit to say that it can act as an alternative. The reason for this is that both platforms offer equally the same services.