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

When you hear PancakeSwap, you think fast swaps, low fees, and a big user base on Binance Smart Chain. But what about PancakeSwap v2 on Polygon zkEVM? Launched in early 2024, this version promises the same familiar interface - but on a faster, cheaper chain that’s fully compatible with Ethereum. Sounds great, right? Here’s the reality: as of October 2025, it’s barely alive.

What Is PancakeSwap v2 on Polygon zkEVM?

PancakeSwap v2 on Polygon zkEVM is not a new app. It’s the same PancakeSwap you know, but running on Polygon’s zero-knowledge Ethereum Virtual Machine. This means it uses zk-rollup technology to bundle hundreds of transactions into one proof, then posts it to Ethereum. The result? Ethereum-level security with Polygon-level speed and low costs.

Unlike the original PancakeSwap on BSC, which has over a billion in daily volume, this version is barely a whisper. CoinGecko shows 0 trading pairs and $0.00 in 24-hour volume. CoinMarketCap lists $33.64 - so tiny it’s practically a rounding error. There’s no liquidity. No depth. No active traders. If you’re looking to swap tokens, you won’t find much to trade.

How It Works (Technically)

PancakeSwap v2 on zkEVM uses the same automated market maker (AMM) model as its BSC cousin. You connect your wallet - usually MetaMask - pick two tokens, and swap. The fee is 0.25%, same as always. But here’s the catch: you need to be on the Polygon zkEVM network. That means manually adding the network to your wallet with the correct RPC URL, chain ID, and native token symbol (MATIC for zkEVM, not the old Polygon POS chain).

Unlike BSC, where BNB is the default gas token, here you need MATIC on zkEVM. If you don’t have it, you can’t pay for gas. And since there’s almost no trading activity, there’s no easy way to get MATIC on zkEVM through the exchange itself. You’ll need to bridge from Ethereum, Polygon POS, or another chain first.

The smart contracts are based on Uniswap V2, with PancakeSwap’s tweaks - like the CAKE token rewards system. But here’s the kicker: those rewards aren’t active on zkEVM yet. No yield farming. No staking. No liquidity mining. Just pure swapping - and there’s nothing to swap.

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

PancakeSwap’s team isn’t stupid. They’re expanding to zkEVM because it’s one of the most promising Ethereum scaling solutions. zkEVM chains like Polygon zkEVM, zkSync Era, and Linea are gaining traction among developers and institutions. By launching early, PancakeSwap hopes to be the go-to DEX when liquidity finally flows in.

But right now, it’s a chicken-and-egg problem. No one adds liquidity because there’s no trading. No one trades because there’s no liquidity. And without incentives - like CAKE token rewards or airdrops - there’s no reason for liquidity providers to risk their capital on a dead chain.

Compare that to QuickSwap on Polygon POS, which has $150M+ in daily volume. Or Uniswap on Ethereum, which handles billions. PancakeSwap v2 on zkEVM? It’s not even on the radar.

Pros and Cons

So what’s the upside? If you’re a tech enthusiast, you get to test a new chain with a trusted interface. You get Ethereum compatibility without the $50 gas fees. And if liquidity ever arrives, you’ll be early.

The downside? You can’t trade anything meaningful. You can’t earn rewards. You can’t even find a single token pair beyond maybe WETH/MATIC. It’s like opening a restaurant with no food on the menu.

Who Should Use It?

Only three types of people should consider using PancakeSwap v2 on zkEVM right now:

1. Developers testing smart contracts - if you’re building on zkEVM and want to test swaps, this gives you a familiar UI.
2. Early adopters with spare funds - if you believe in Polygon zkEVM’s future and want to be the first to add liquidity, you can try. But you’re taking serious risk.
3. Researchers or students - if you’re studying DeFi adoption patterns, this is a real-world case study in how not to launch a DEX.

If you’re a regular trader looking to swap tokens, save your time. Go to Uniswap on Ethereum, QuickSwap on Polygon POS, or even the original PancakeSwap on BSC. They’re alive. This one isn’t.

Security and Regulation

PancakeSwap has never been regulated. That hasn’t changed. The zkEVM version operates the same way: no KYC, no licenses, no customer support hotline. You’re on your own.

Smart contract audits? The original PancakeSwap has been audited multiple times by reputable firms like CertiK and PeckShield. But there’s no public audit report yet for the zkEVM implementation. That’s a red flag. Even if the code is copied from the BSC version, any new deployment carries risk. A single bug could drain liquidity.

And since there’s no liquidity, there’s nothing to steal - yet. But if someone does add funds, and a vulnerability is found? You’re out of luck. No chargebacks. No refunds. No help desk.

How to Use It (If You Must)

If you’re still determined to try it, here’s how:

1. Open MetaMask and click the network dropdown.
2. Select "Add Network" and enter Polygon zkEVM’s details:
• Network Name: Polygon zkEVM
• New RPC URL: https://zkevm-rpc.com
• Chain ID: 1101
• Currency Symbol: MATIC
• Block Explorer URL: https://zkevm.polygonscan.com
3. Get MATIC on zkEVM. Use a bridge like the official Polygon zkEVM Bridge from Ethereum or Polygon POS.
4. Go to pancakeswap.finance and connect your wallet.
5. Switch to the Polygon zkEVM network in the top-right corner.
6. Try to swap. You’ll likely see "No trading pairs available."

That’s it. No hidden features. No secret rewards. Just a blank screen waiting for someone to build something.

What’s Next for PancakeSwap v2 on zkEVM?

PancakeSwap’s team hasn’t announced any roadmap for this version. No incentives. No marketing push. No partnerships with zkEVM projects. Without a clear plan to attract liquidity, this could stay dead for months - or years.

But the potential is real. If PancakeSwap launches CAKE rewards on zkEVM, or partners with top DeFi protocols to list tokens here, liquidity could flood in overnight. The infrastructure is there. The tech is proven. It just needs a spark.

For now, treat it like a prototype. Not a product. A test. A bet. Don’t put money in it expecting returns. Put in a few dollars to see how it works - and then walk away.

Alternatives to Consider

If you want a real, working DEX on zkEVM, here are better options:

• QuickSwap (Polygon POS) - huge liquidity, 1,500+ pairs, active community. Not zkEVM, but the best Polygon option right now.
• Uniswap V3 on zkSync Era - solid liquidity, Ethereum-grade security, growing user base.
• SyncSwap on zkSync Era - optimized for zkEVM, low fees, active incentives.
• Curve Finance on zkEVM - best for stablecoin swaps, deep liquidity.

These platforms have users, volume, and active teams. PancakeSwap v2 on zkEVM? It’s still in the lab.

Final Verdict

PancakeSwap v2 on Polygon zkEVM is not a crypto exchange you can use today. It’s a ghost town. No trades. No liquidity. No rewards. Just a familiar interface sitting idle on a chain that’s waiting for someone to turn the lights on.

If you’re curious about zkEVM tech, great. Go explore it. But don’t expect to trade. Don’t expect to earn. Don’t expect it to be useful.

It’s not broken. It’s just not built yet.

Wait until PancakeSwap announces liquidity mining, token listings, or a marketing campaign. Until then, this version is a footnote - not a feature.