Trade, earn, and own crypto on the all-in-one multichain DEX PancakeSwap is an automated market maker (AMM) and decentralized exchange (DEX) available on the BNB Smart Chain, Ethereum, and other blockchain networks. PancakeSwap is the leading decentralized exchange on BNB Smart Chain, with the highest trading volumes in the market (sources: 1 2). PancakeSwap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software.