PancakeSwap DEX Launches Version 3 with Improved Performance & Lower Fees
The PancakeSwap DEX Version 3 also looks to introduce a "VIP" trading rewards program and a position manager feature down the stretch.
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The PancakeSwap DEX Version 3 also looks to introduce a "VIP" trading rewards program and a position manager feature down the stretch.
On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce fees by implementing four levels of trading fees.
PancakeSwap has revealed its upgraded version 3 (V3), offering a suite of new features and what it claims as improved functionality.
PancakeSwap has launched version 3 of its automated market maker platform, featuring lower fees and enhanced capital efficiency. Liquidity providers can now select custom price ranges, allowing specific control over capital investments, and the release also includes four new trading fee tiers.
PancakeSwap has released version 3 of its BNB Chain, Aptos and Ethereum-based DeFi platform, touting improved performance and lower fees.
V3 brings four different trading fee tiers, 0.01%, 0.05%, 0.25% and 1%, compared with V2's single level of 0.25%.
These 5 altcoins have interesting developments lined up in April.
CAKE, the utility token of the decentralized exchange, PancakeSwap, remains under pressure days after the Uniswap community voted to launch the exchange on the BNB Smart Chain (BSC), a smart contracting platform. Uniswap v3 went live on the BSC on March 15, bringing stiff competition to PancakeSwap, which has long been dominant on the smart contracting platform.
It is worth mentioning that PancakeSwap (CAKE) is a DEX (Decentralized Exchange) built on the Binance Smart Chain, which allows coins to be exchanged using non-custodial wallets.
PancakeSwap [CAKE] is all set to release its latest version on 14 April, which might play a role in increasing the network's transactions. According to Dune, CAKE's number of transactions has taken a sideways path lately.
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PancakeSwap [CAKE] recently published a new proposal, one which is currently under the voting period. The new proposal is related to the formation of a new Syrup Pool with Ternoa.
According to DefiLama's data, at the time of writing, PancakeSwap's and Uniswap's DEX reported $2.43 billion and $3.5 billion TVL, respectively.
PancakeSwap and Uniswap have been locked in a battle of the DEXes for some time but the latter has been winning. There have been instances where PancakeSwap almost took the lead and recent observations suggest that it might flip Uniswap soon.
PancakeSwap (CAKE), the leading multichain decentralized exchange (DEX) running on the Binance Smart Chain (BSC), has suffered a significant 12% drop in its total value locked (TVL) to $2.4 billion. The crypto crackdown by regulators targeting Binance's stablecoin BUSD triggered a decrease in the stablecoin supply.
PancakeSwap has recently emerged as the market's leading DEX by the number of daily active users. Ergo, the question – Is this enough to support a sentiment shift among CAKE holders?
After the successful launch of Market Maker Integration on Ethereum, PancakeSwap have been listening to your feedback and are pleased to announce that they are “extending this feature to BNB Smart Chain.
As part of its latest burning round, popular decentralized exchange (DEX) PancakeSwap removed about 7.15 million CAKE tokens out of circulation. The burned tokens were worth $27 million in value.
PancakeSwap burned 7,153,999 CAKE tokens as the Decentralized Exchange (DEX) prepares for the V3 launch scheduled in April.
Key Points: PancakeSwap, a decentralized trading platform, has reported that they have conducted a significant burn of CAKE tokens worth around 27 million US dollars (equivalent to 7,153,999 CAKE tokens). The burn was executed using fees accumulated from various operations, including trades, lotteries, NFT market, and prediction markets.
PancakeSwap V3 will offer new features such as improved liquidity provisioning, competitive trading fees, trading incentives and enhancement for yield farming tools.
This innovative platform quickly became one of the most popular DEXs on Binance's Smart Chain (BSC), allowing users to trade various cryptocurrencies with high-speed transactions and low fees.
The April upgrade promises more competitive trading fees and improved liquidity provisioning.