To develop a DeFi exchange like PancakeSwap, you need to follow several key steps. Firstly, choose a suitable blockchain, such as Binance Smart Chain, to build your platform on. Develop robust smart contracts for trading, liquidity pools, and yield farming, ensuring they are well-tested and secure. Design an intuitive user interface to attract and retain users, and prioritize security by conducting comprehensive audits and implementing best practices. Encourage liquidity providers through incentives and introduce a governance token to involve the community in decision-making.
source: https://www.blockchainappfactory.com/pancakeswap-like-decentralized-exchange