Mix together the peanut butter, low-carb maple syrup, and eggs.
Once the peanut butter is beginning to break up and incorporate, add in the heavy cream.
Combine once more and then add the flaxseed and baking powder. Mix everything well to form a pancake batter.
Grease a pan with a little bit of butter over medium-low heat. Once the pan is hot, pour in the pancake batter.
Cook the pancake until the sides are hardening up and the top is bubbling. If using a ring mold (which I highly recommend), remove it now. Use a spatula to flip the pancake over. Cook for an additional 1–2 minutes.
Continue with the remaining batter. Serve and enjoy!