PancakeSwap v2 (zkEVM) Crypto Exchange Review: Is It Worth Using in 2025?

When you hear "PancakeSwap," you think of fast trades, low fees, and a slick interface-on Binance Smart Chain. But now there’s a new version: PancakeSwap v2 (zkEVM). Launched in early 2024, it’s meant to bring the same familiar trading experience to Polygon’s zero-knowledge Ethereum Virtual Machine. Sounds promising, right? Here’s the truth: as of November 2025, this version is barely alive.

What Is PancakeSwap v2 (zkEVM)?

PancakeSwap v2 on Polygon zkEVM is not a redesign. It’s a port. The same swap interface, the same 0.25% trading fee, the same AMM model as the original-but running on Polygon’s zk-rollup layer. That means transactions are faster and cheaper than Ethereum mainnet, while still being verified by Ethereum’s security. It’s built to appeal to users who want Ethereum compatibility without the gas fees.

But unlike the main PancakeSwap on BSC-which handles billions in monthly volume-this version is barely registering. CoinGecko lists it with 0 trading pairs and $0.00 in 24-hour volume. CoinMarketCap shows $33.64. That’s not a typo. That’s less than what a single trade on the original PancakeSwap makes in 10 seconds.

Why It Exists (And Why It’s Still Empty)

PancakeSwap’s team isn’t lazy. They’ve expanded to Ethereum, Arbitrum, Base, zkSync, and more. Each new chain is a bet. Polygon zkEVM is one of the most promising Ethereum scaling solutions right now. It’s fast, secure, and growing. So why hasn’t liquidity followed?

Simple: no one’s added it yet. Liquidity providers don’t risk their capital on a DEX with zero volume. Traders won’t use it because there’s nothing to trade. It’s a classic chicken-and-egg problem. Without tokens listed, no one comes. Without users, no one lists tokens.

Compare that to QuickSwap on Polygon POS. It’s got hundreds of trading pairs and millions in daily volume. PancakeSwap v2 (zkEVM) doesn’t even have a single major token pair live yet. Not even CAKE-WETH. Not even USDC-DAI. Just… nothing.

How It Works (If You Can Get It Working)

Connecting to PancakeSwap v2 (zkEVM) is easy-if you know how to set up a custom network. You need MetaMask or another Web3 wallet. Then you manually add Polygon zkEVM’s RPC details: chain ID 1101, RPC URL, block explorer, and native token (MATIC zkEVM). Most users skip this step because it’s not auto-populated like BSC or Ethereum.

Once connected, the interface looks exactly like the original PancakeSwap. Swap, Liquidity, Yield Farming-all there. But when you click "Swap," you’ll see an empty token list. No USDT. No ETH. No WBTC. Nothing. You can’t even search for CAKE because it’s not listed here. You’re stuck.

The fee structure is the same: 0.25% for both makers and takers. That’s competitive. But without liquidity, that fee doesn’t matter. Slippage would be insane if you tried to trade anything.

Security and Audits: What We Know

PancakeSwap’s core contracts on BSC have been audited multiple times by reputable firms like CertiK and PeckShield. But the Polygon zkEVM version? No public audit reports. No GitHub commit history showing code deployment. No changelog. That’s not normal for a platform that’s been around since 2020.

It’s not necessarily unsafe. The code is likely a copy-paste from the BSC version with minor chain-specific tweaks. But in DeFi, trust comes from transparency. No audit = no confidence. No one’s going to lock up $10,000 in liquidity here until someone publishes a security report.

Also, like all DEXs, PancakeSwap v2 (zkEVM) is completely unregulated. No KYC. No customer support. No refunds if you send funds to the wrong address. You’re fully responsible.

Who Should Use It? (Spoiler: Almost No One)

There are exactly two types of people who might want to use this right now:

• Researchers or developers testing Polygon zkEVM integrations.
• Early adopters who want to be first to add liquidity and earn future incentives.

For everyone else-traders, yield farmers, casual users-it’s a dead end. No tokens. No volume. No reason to be there.

If you’re looking for a good DEX on Polygon zkEVM, try QuickSwap or SushiSwap. Both have active liquidity, real trading pairs, and documented audits. PancakeSwap v2 (zkEVM) is still in the lab.

What’s Next? The Future of This Version

PancakeSwap has a history of making new chains work. When they launched on Base or zkSync, those chains were also empty. Then they offered CAKE rewards for liquidity providers. They ran farming campaigns. They partnered with new token projects. And suddenly, volume exploded.

That hasn’t happened here yet. But it could. If PancakeSwap announces a $5 million liquidity incentive program for Polygon zkEVM, or if they list CAKE on this chain, everything could change overnight. Polygon zkEVM’s adoption is growing. Major DeFi protocols like Aave and Compound are moving in. PancakeSwap could ride that wave.

For now? It’s a ghost town. But it’s a ghost town with potential.

Bottom Line: Don’t Trade Here-Yet

PancakeSwap v2 (zkEVM) is not a crypto exchange you should use in 2025. Not for trading. Not for staking. Not for adding liquidity. It’s a placeholder. A proof-of-concept. A waiting room.

If you’re curious, connect your wallet. See the empty screen. Take a screenshot. Come back in six months. If there are 10+ trading pairs and $1 million in volume, then it’s worth revisiting. Until then, stick with QuickSwap, SushiSwap, or the original PancakeSwap on BSC.

This version isn’t broken. It’s just unborn.