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The Top 5 AMM And DeFi Projects On Binance Smart Chain By TVL

Decentralized exchanges, and more specifically, automated Market Maker platforms, remain as popular as ever before. Although everyone knows Uniswap is the king of the hill, it is worth looking at what else is out there. The following AMM and DeFi platforms on the Binance Smart Chain are all competing for Total Value Locked, or TVL.

PancakeSwap (CAKE)

It is not surprising that PancakeSwap emerged as the top AMM DEX on the Binance Smart Chain. As the BSC counterpart to Uniswap, so to speak, it currently has $6.78 billion in TVL. A respectable amount for an exchange generating $208.9 million in 24-hour trading volume. That is less than one-third of Uniswap V3’s trading volume, though, indicating there is still a long way to go before PancakeSwap can become the “king of the hill”. 

Ellipsis (EPS)

As an exchange for stablecoins on the Binance Smart Chain, Ellipsis is a rather intriguing project. Having the option to swap between different stablecoins at minimal slippage can benefit the thousands of traders out there. As a fork for Curve Finance, Ellipsis currently has $1.28 billion in Total Value Locked. A far cry from what PancakeSwap brings to the table, although Ellipsis noted solid improvements over the past few months.


Competition for that second spot in the ranks heats up between MDEX and Ellipsis. Per DefiStation,  MDEX currently has $1.26 billion in TVL, which isn’t too far behind its competitor. Its strong focus on trading and liquidity mining makes it a viable contender among all AMM platforms across different blockchains. A new market function was launched recently for the HECO blockchain, with a full launch expected later this year. 

AutoFarm (AUTO)

As a one-stop DeFi suite for all Binance Smart Chain users, Autofarm aggregates yield opportunities by using a DEX and AMm aggregator, dubbed AutoSwap. AutoFarm also supports HECO and Polygon, with more blockchains to be added in the future. It has $614.51 million in TVL today, which appears to be a stable point for this project. New products and features will go live later in 2021, including AutoTrade and AutoPortfolio.

O3 Swap (O3)

The proprietary cross-chain aggregation protocol with AMM DEX and earning capabilities manages $548.22 million in user assets today. Users can exchange and swap various assets sourced from popular AMM platforms across Ethereum, Binance Smart Chain, and other ecosystems under one roof. It is an interesting platform, as liquidity aggregators play a crucial role of importance in AMM platforms and decentralized finance. 

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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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JP Buntinx

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