Comprehensive Guide to the Best DEXs on the Binance Smart Chain (BSC) Network
The Binance Smart Chain (BSC) has solidified its position as a leading blockchain for decentralized finance (DeFi), thanks to its low transaction fees and high throughput.
Decentralized exchanges (DEXs) on BSC empower users to trade cryptocurrencies, engage in yield farming, and access innovative financial tools without intermediaries, several DEXs stand out for their features, liquidity, and community support.
Below is an in-depth exploration of the top DEXs on BSC, complete with links to their official platforms and detailed breakdowns of their offerings.
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1. PancakeSwap
Official Link: PancakeSwap
Overview: Launched in September 2020, PancakeSwap is the reigning champion of BSC DEXs, with a total value locked (TVL) surpassing $5 billion. It operates as an automated market maker (AMM), enabling seamless token swaps via liquidity pools.
Key Features:
Token swapping with deep liquidity for BEP-20 tokens.Yield farming and staking opportunities with CAKE token rewards.Unique features like a lottery, prediction markets, and an NFT marketplace.Cross-chain bridges to Ethereum and beyond.
Strengths: High liquidity, low 0.25% trading fees, and a robust community governance system.
Why It Stands Out: PancakeSwap’s extensive ecosystem and gamified elements make it a versatile hub for DeFi enthusiasts.
2. Biswap
Official Link: Biswap
Overview: Biswap, launched in May 2021, is the second-largest DEX on BSC by trading volume, celebrated for its ultra-low fees and user incentives.
Key Features:
0.1% trading fees, among the lowest in DeFi, with partial refunds.A three-tier referral system to boost earnings.Yield farming and NFT marketplace integration.IDO launchpad for new token projects.
Strengths: Cost efficiency and rewarding mechanisms like staking and referrals.
Why It Stands Out: Biswap’s fee structure and innovative reward programs appeal to budget-conscious traders.
3. Thena
Official Link: Thena
Overview: Introduced in January 2023, Thena is a fast-rising DEX with advanced trading options and strategic partnerships, including Binance Labs.
Key Features:
Spot trading with optimized routing for low slippage.Perpetual futures trading with leverage.Social trading competitions for community engagement.Liquidity provision with THE token incentives.
Strengths: Cutting-edge features and strong backing from industry leaders.
Why It Stands Out: Thena’s blend of traditional and futures trading positions it as a forward-looking platform.
4. Mdex
Official Link: Mdex
Overview: Mdex is a multi-chain DEX with a significant BSC presence, boasting around $500 million in TVL and a focus on liquidity mining.
Key Features:
Dual mining: earn MDX tokens via liquidity and transaction mining.Cross-chain support across BSC, Ethereum, and HECO.Governance through MDX token voting.High-yield liquidity pools.
Strengths: Unique reward mechanisms and multi-chain flexibility.
Why It Stands Out: Mdex’s dual mining and cross-chain capabilities cater to users seeking diverse opportunities.
5. ApeSwap
Official Link: ApeSwap
Overview: ApeSwap, with a TVL of about $130 million, is a community-centric DEX featuring its BANANA token and a playful vibe.
Key Features:
Token swapping and staking with BANANA rewards.Yield farming with high APRs.Lending and bond options for additional earnings.NFT ecosystem and multichain support (BSC, Polygon, Ethereum).
Strengths: Community-driven approach and broad product range.
Why It Stands Out: ApeSwap’s engaging branding and multichain functionality attract a diverse user base.
6. BakerySwap
Official Link: BakerySwap
Overview: BakerySwap combines AMM trading with NFT integration, making it a pioneer in NFT-Fi on BSC with its BAKE token.
Key Features:
AMM trading paired with NFT buying, selling, and staking.Yield farming and staking for BAKE rewards.Launchpad for new token offerings.Governance via BAKE token holders.
Strengths: Early adoption of NFT-Fi and a solid DeFi foundation.
Why It Stands Out: BakerySwap’s unique NFT focus sets it apart in the crowded DEX space.
7. 1inch
Official Link: 1inch
Overview: 1inch is a DEX aggregator that optimizes trades across multiple platforms, including BSC, known for its efficiency and low slippage.
Key Features:
Aggregates liquidity from various DEXs for optimal rates.Pathfinder algorithm for the best trading paths.CHI token to lower gas costs.Support for limit orders.
Strengths: Best-in-class trade execution and cost efficiency.
Why It Stands Out: 1inch’s aggregation model ensures users always get the best deal, ideal for strategic traders.
8. SushiSwap
Official Link: SushiSwap
Overview: Originally an Ethereum DEX, SushiSwap expanded to BSC for lower fees, governed by its SUSHI token community.
Key Features:
AMM trading with liquidity pools.Yield farming and staking with SUSHI rewards.Governance through SUSHI token voting.BentoBox for lending and borrowing.
Strengths: Established reputation and multi-chain presence.
Why It Stands Out: SushiSwap’s brand strength and BSC adaptation make it a trusted option.
9. Uniswap (BSC Clones)
Official Link: Uniswap (Original) (Note: BSC clones vary; no single official link exists, but the original Uniswap site provides context)
Overview: While Uniswap is Ethereum-based, BSC hosts clones that mimic its AMM model, tailored for lower fees and faster trades.
Key Features:
AMM-style token swapping.Liquidity provision with fee earnings.Familiar Uniswap-like interface.
Strengths: Proven mechanics and potential liquidity from BSC adoption.
Why It Stands Out: These clones offer a familiar experience with BSC’s cost advantages.
The Limitations of DEXs and Why You Should Consider GMGN
Despite their strengths, DEXs on BSC, such as PancakeSwap, Biswap, and Thena, have notable limitations that can frustrate traders:
Lack of Comprehensive Charts: Most DEXs offer basic price data but lack detailed charting tools for technical analysis, forcing traders to rely on external platforms.No Limit or Trigger Orders: Except for outliers like 1inch, many DEXs don’t support limit or trigger orders, limiting trading precision compared to centralized exchanges.Data and Interface Gaps: Real-time data can be sparse, and interfaces may feel clunky, slowing down decision-making.
These constraints mean DEXs excel in decentralization but fall short for traders needing advanced analytics and flexibility. Enter GMGN, a solution to bridge these gaps.
Why GMGN?
Official Link: GMGN
Overview: GMGN is a data analysis platform designed for crypto traders, offering real-time insights and trend tracking.
Key Benefits:
Monitor smart money, fresh wallets, and KOL activities for early trend detection.Instant trend analysis to spot high-potential assets.Fast, data-driven trading decisions with on-chain insights.
How It Helps: Pair GMGN with a DEX like PancakeSwap, and you can analyze market movements even without built-in charts, making up for missing order types with timely, informed actions.
Final Thoughts
The BSC network boasts a stellar lineup of DEXs — PancakeSwap’s all-in-one ecosystem, Biswap’s low fees, Thena’s innovation, and more — each accessible via the links above. Yet, their limitations in charting and order functionality underscore the value of a tool like GMGN. By combining these DEXs with GMGN’s data prowess, you can trade smarter, blending the freedom of DeFi with the precision of real-time analytics.
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Top 9 Best DEXs on Binance Smart Chain (BSC) in 2025: Full Guide was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.