Hyperliquid vs PancakeSwap
Different architectures: Hyperliquid runs on-chain order book (CLOB), PancakeSwap AMM — execution, slippage and UX all change. On liquidity Hyperliquid dominates: $2.8B TVL vs $2.5B. In our editorial rating Hyperliquid leads (5.0 vs 4.3). Also check supported chains and network costs from your wallet: they often matter more than protocol design.
| Hyperliquid | PancakeSwap | |
|---|---|---|
| Tier | S | A |
| Rating | ★ 5.0 | ★ 4.3 |
| Liquidity model | CLOB | AMM |
| Maker / Taker fee | 0% / 0.02% | 0.01% / 1% |
| Markets | Spot + Perp | Spot + Perp |
| Supported chains | Hyperliquid L1 (appchain) | BSC, Ethereum, Arbitrum, Base, Linea, ZkSync |
| TVL (as of Jun 13) | $2.8B | $2.47B |
| 24h volume | $12B | $1.12B |
| Native token | HYPE | CAKE |
| Fund custody | Non-custodial (funds in your wallet) | Non-custodial (funds in your wallet) |
| Supported wallets | MetaMask, Rabby, WalletConnect, Coinbase Wallet | MetaMask, Trust Wallet, Binance Wallet, Coinbase Wallet, Token Pocket, SafePal, WalletConnect |
| Audits | Zellic — Hyperliquid bridge contract, initial security assessment (14 ago 2023) e patch review (27 nov 2023) | PeckShield, SlowMist, BlockSec, Cyfrin, HashDit, OtterSec, Zellic, Halborn |
| Governance | DAO + HYPE token (staking + governance) | DAO + veCAKE governance |
| KYC | Full | Full |
| Supported countries | US, EEA, APAC, LATAM, MENA, AFRICA · 200+ countries | US, EEA, APAC, LATAM, MENA, AFRICA · 200+ countries |
| Regulator | None | None |
| Segment | B2C | B2C |
| Regions | US, EU/EEA, APAC, LATAM, MENA, Africa | US, EU/EEA, APAC, LATAM, MENA, Africa |
| Licences & safety | None (decentralized protocol) | None (decentralized protocol) |
Frequently asked questions
Hyperliquid vs PancakeSwap: which is better?
Different architectures: Hyperliquid runs on-chain order book (CLOB), PancakeSwap AMM — execution, slippage and UX all change. On liquidity Hyperliquid dominates: $2.8B TVL vs $2.5B. In our editorial rating Hyperliquid leads (5.0 vs 4.3). Also check supported chains and network costs from your wallet: they often matter more than protocol design.
Is Hyperliquid custodial or self-custody?
Hyperliquid is self-custody: you keep the keys, while PancakeSwap is self-custody.