PancakeSwap vs Uniswap

[Abiky]

Momentum is rising for AMMs in the crypto/Blockchain space. Uniswap has been one of the first (if not the first) AMMs to introduce the concept of decentralized swaps. It's been widely successful with liquidity rising at a fast pace. Yet, the high fees and slow transaction confirmation times on Ethereum are forcing people to look for other options. One of those options is PancakeSwap. This new AMM lives on Binance Smart Chain, allowing it to benefit from the blockchain's ultra-low fees and blazing-fast transaction confirmation times. If ETH doesn't scale fast, Uniswap could lose a considerable amount of users as they flock into PancakeSwap. Of course, Uniswap is much more decentralized than PancakeSwap. But most people don't care about this, as they usually "follow the money".

Thoughts?

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[cryptoaddictchie]

You are right. Majority have shift to Binance smart chain already and increasing as the gas fee on eth network is terribly high and unbearable already. Imagine paying more than $100 for a few just to confirmed and interact swap feature is really a pain for all traders. It seems like that uniswap are now privilege only for those doing a huge number of transactions. Pancakeswap Volume has surpass the Uniswap on quite sometime and it will totally exceed it once the fee never go down to a normal one.

[Bttzed03]

~ If ETH doesn't scale fast, Uniswap could lose a considerable amount of users as they flock into PancakeSwap.

While Ethereum developers and miners are busy fighting over EIP 1559 to help reduce the fees, developments on BSC continues. The number of coins/tokens on Pancakeswap is currently less than 10% of Uniswap's but the trading volume is closer than you'd expect.

Personally, I've abandoned abandoned Uniswap and moved to Pancakeswap and Bakery. I don't have the pocket to endure paying $50+ fee on erc-20 and eth smart contracts. It's a playground for whales as they say and not for regular traders/investors.

[dihari]

they usually "follow the money"

That is the key point. No matter how much people trust in ethereum, they will always follow the profitable one. No matter how noisy the echoes of decentralization are in crypto verse, seems like people don't care anymore as long as it safe and low fee.
I am one of those people. I follow the money.

[GreatArkansas]

I believe this is just temporary. Yep, the expensive gas fees on Ethereum are really sick, especially you are just a small trader. Trading DEX or other Defi apps on Ethereum now is for whale players.

I can't blame Binance smart chain will start to compete with Ethereum, not only Binance smart chain, a lot of alternatives these days that is more scalable than Ethereum, just like Solana which recently started their first AMM, which is Raydium.
Once Ethereum will become scalable soon, people will realize how Ethereum is useful.

Identify your goal first, if you are into trading and want to save fees, then use PancakeSwap / Binance smart chain. As I heard, 1INCH will start to expand to Binance smart chain.

[michellee]

But most people don't care about this, as they usually "follow the money".

Thoughts?

If people do not search for what can help them to money, than just follow the money flows, they will get lost their money as they can not identify the way that they can use to make money. Regard that is PancakeSwap or Uniswap that will depend on people can feel comfortable to use that exchange because that is how they can accept the fee of making the transaction. If they accept the fee, they will use PancakeSwap or Uniswap or use both exchanges as long as they can profit from both exchanges.

[shoreno]

so this pancakeswap is the new kid/trend in town? hmm . pancakeswap is centralized while uniswap is decentralized , this factor gives a reason for uniswap users to think twice if they will consider risking thier privacy to save fees and to reduced the waiting times or they will stay and will practice being a lil bit uncomfortable on using uniswap and besides there still a chance that eth and uniswap service can recover in the future so pancakeswap are still in danger

[cryptoperkele]

...cut...
 If ETH doesn't scale fast, Uniswap could lose a considerable amount of users as they flock into PancakeSwap. Of course, Uniswap is much more decentralized than PancakeSwap. But most people don't care about this, as they usually "follow the money".

Thoughts?

Pancakeswap already passed Uniswap volume according to dappradar. Also it seems that pump chasers went there too.

Even if Pancakeswap isn't as decentralized as eth, these nearly free fees made me try swapping and adding liquidity for the first time because i was put off by ETH fees and never got around to test uniswap.

So even if i am not going to stay with pancakeswap when eth scales, i am grateful for it providing me an opportunity to test it nearly free of charge, so i will be ready and actually have some idea how it works.

[lifeOK]

PancakeSwap is the leading decentralized exchange running on Binance Smart Chain. By user count and popularity PancakeSwap is the top exchange. Deal with Uniswap means congestion on the network and the high gas fees while PancakeSwap is relatively more fast, and cheap to use it.

[Raflesia]

PancakeSwap is the leading decentralized exchange running on Binance Smart Chain. By user count and popularity PancakeSwap is the top exchange. Deal with Uniswap means congestion on the network and the high gas fees while PancakeSwap is relatively more fast, and cheap to use it.

It is true that now PancekSwap is now above Uniswap, they are friendlier when it comes to swapping compared to Uniswap, which now costs a lot of money.
Sometimes people always switch from Ethereum network to Binance chain which has faster transactions to be honest I also like it and trade more on pancakeswap than Uniswap.
So when there are low costs, many people will switch and leave the more expensive ones.

[adamvp]

I' am just experiencing some difficulties regarding Uniswap and PancakeSwap - I'm trying to buy some of certain tokens on PancakeSwap as  Binance Smart Chain fees are much cheaper than Ethereum fees, but price of my token is much over 5% higher on PancakeSwap! This token isn't included in Binance Bridge service..
So I think it is many work ahead Binance until they reach Uniswap in terms of market depth and liquidity..

Overally I think Uniswap as Eth project is much more reliable and I'd rather add liquidity there, as Binance (Smart) Chain isn't truly decentralised network

[Abiky]

You are right. Majority have shift to Binance smart chain already and increasing as the gas fee on eth network is terribly high and unbearable already. Imagine paying more than $100 for a few just to confirmed and interact swap feature is really a pain for all traders. It seems like that uniswap are now privilege only for those doing a huge number of transactions. Pancakeswap Volume has surpass the Uniswap on quite sometime and it will totally exceed it once the fee never go down to a normal one.

I can't imagine paying well above $10 just to make a deposit or withdrawal from a decentralized lending platform. It would leave the "average Joe" out of the system. Only the wealthy will be able participate on "De-Fi", greatly defeating the purpose of crypto/Blockchain tech. That's why most people are considering other alternatives to Uniswap. They want to save off fees while enjoying the benefits of decentralization. Little do they know that PancakeSwap lives on a centralized blockchain controlled by a single entity (which in this case it's Binance). Uniswap wins by a long shot, if we take into account decentralization and censorship-resistance. I'm sure that the upcoming version of Uniswap (V3) will attract the likes of everyday people once more. PancakeSwap's rise may not last for long if Uniswap becomes great again.

Nonetheless, there are many AMM platforms aiming to take Uniswap's place on the market. Yet, none have been able to outmatch Uniswap's level of adoption in the mainstream world. The battle is getting fierce but only one will be a true winner in the long run. I'm all in for Uniswap as it's the biggest decentralized AMM in the world. Just my opinion

[adamvp]

@Abiky that's  the way  big whales would like to  things going - only big entities will be able to  use cryptocurrencies on-chain, others will be forced to use intermediary - sad, but real decentralization is too beautifull to be true..

[agustina2]

PancakeSwap's rise may not last for long if Uniswap becomes great again.

Great again on what? Fees?

It's not about being decentralized anymore but people are now open to always choose the centralized way as long as they profit and save fees.

I'm now more of using Binance Chain and the experience is good.

[adamvp]

@agustina2 experience is good until problems will occur...
And as binance smart chain is not truly decentralised it will be very easy to regulators to force its "excellent" idea - like freezing acounts or blocking transfers not complied with their regulations..
This risk is a way lower in truly decentralised networks like Ethereum is!
So BSC is good for fast action like swap, but not for keeping money on them

[sunsilk]

Sometimes people always switch from Ethereum network to Binance chain which has faster transactions to be honest I also like it and trade more on pancakeswap than Uniswap.
So when there are low costs, many people will switch and leave the more expensive ones.

Because of too much fee, that's really sick to keep doing it with Uniswap if the fees are totally high and cannot be tolerated anymore. BSC is cheaper and that's why many traders are already getting on it.

Thus, there's CZ who's marketing his own BSC and giving statements that will make others feel that they're on the wrong chain. Just like this tweet.

https://twitter.com/cz_binance/status/1365708265078726656

[milewilda]

@agustina2 experience is good until problems will occur...
And as binance smart chain is not truly decentralised it will be very easy to regulators to force its "excellent" idea - like freezing acounts or blocking transfers not complied with their regulations..
This risk is a way lower in truly decentralised networks like Ethereum is!
So BSC is good for fast action like swap, but not for keeping money on them

You can always have the option though as long on what suits you or according to your needs.Even if you are a die hard fan of decentralization, we cant just ignore the fact
on using up centralized one for the benefit of saving up fees or whatever reason you do have in mind.Dont stick on things which would really be costing you a lot.
If there are alternatives then it would be better for you to consider it out rather than on forcing into something which you do know that it will really be putting
you on disadvantage.

[shinratensei_]

PancakeSwap is the leading decentralized exchange running on Binance Smart Chain. By user count and popularity PancakeSwap is the top exchange. Deal with Uniswap means congestion on the network and the high gas fees while PancakeSwap is relatively more fast, and cheap to use it.

This should not be decentralized as uniswap how decentralized the swap service totally pegged with the blockchain that already used to run the swap service because the swap service totally pegged with the blockchain. Pancake use BSC that has very small amounts of nodes but these nodes controlled by binance itself and the update to the protocol can be executed anytime.
Both were different and it's not comparable.

[cryptoaddictchie]

The battle is getting fierce but only one will be a true winner in the long run. I'm all in for Uniswap as it's the biggest decentralized AMM in the world. Just my opinion

I agree with you. We all knew that these AMM happened because uniswap started it all. The v3 should be a good progress and also helps on the reduction of paying too much gas, I think they can able to manage it as other platform using dex can do it. Not to mention that they are really making it as low as possible.

[abderrazak belkhir]

The battle is getting fierce but only one will be a true winner in the long run. I'm all in for Uniswap as it's the biggest decentralized AMM in the world. Just my opinion

I agree with you. We all knew that these AMM happened because uniswap started it all. The v3 should be a good progress and also helps on the reduction of paying too much gas, I think they can able to manage it as other platform using dex can do it. Not to mention that they are really making it as low as possible.

they have to be quick about it though, if a lot of people start using other than Ethereum like Polkadot, Cardano and BSC, they might keep using them even after they fix their fees problems, they need to find a solution asap.