PancakeSwap v3 Launches on BNB Chain: Revolutionizing Ethereum Trading!
With PancakeSwap v3 now live on BNB Chain, and Ethereum, BNB Chain’s leading decentralized exchange (DEX) has undergone a significant upgrade.
PancakeSwap v3 incorporates the centralized liquidity concept developed by Uniswap v3. The license for the Uniswap v3 branch expired on April 1st. This means that the protocol is now free to use this code.
Key Takeaways
- With PancakeSwap v3 now live on BNB Chai, Ethereum.
- Features coming soon include native limit orders.
- V3 has four transaction fee levels (0.01%, 0.05%, 0.25%, and 1%).
PancakeSwap highlighted the highlights of the v3 upgrade, including much lower trading fees compared to v2, “several times more fee income” for liquidity providers, and much higher capital efficiency.
V3 has four transaction fee levels (0.01%, 0.05%, 0.25%, and 1%), and v2 has a flat rate of 0.25%. This means traders can save commission on the most popular and liquid trading pairs. Features coming soon include native limit orders, a VIP trading rewards program, and automated position management.
“The release of PancakeSwap V3 is an essential milestone in our journey to give our users the best of their DeFi experience.
With the upgrade, PancakeSwap also introduced a new v3 farm, starting with popular pairs like $ETH, $CAKE, $USDC, and $USDT.
@PancakeSwap TWEET
According to DefiLlama, who identifies the protocol as a fork of Uniswap v3, on its first day, PancakeSwap v3 collected around $83 million on the BNB chain and $4 million on Ethereum.
PancakeSwap has been slow to enter the Ethereum market, but BNB chain PancakeSwap v3 TVL has already outperformed BNB chain Uniswap v3 TVL by $11 million.
Furthermore, the PancakeSwap is his top DEX in Aptos, but this chain has yet to introduce v3. PancakeSwap is a decentralized exchange (DEX) built on the BNB chain.
It offers users a variety of features such as liquidity pools (LP), swaps, yield farming, syrup pools, automated market makers, initial firm offerings (IFOs), NFT profile systems, and other tools.
Additionally, the protocol helps users get the most out of their crypto assets through trading, yield farming earnings, lottery, prediction, and NFT collectible wins. PancakeSwap is the leading DEX for the BNB chain, with the highest trading volume on the market.
@cz_binance TWEET
One of the most significant upgrades in PancakeSwap v3 is its concentrated liquidity feature, which allows users to focus their capital to drive volume and fees for trading pairs with high volatility. The platform states that this feature helps to provide better liquidity and tighter spreads while reducing trade fees.
The new update also includes permission pools, re-architected routers, and gas optimization that help reduce network congestion and transaction fees. Moreover, the PancakeSwap team explains that with the upgrade, users can look forward to faster and cheaper transactions across both the Binance Smart Chain and Ethereum networks:
“With PancakeSwap v3, we’re introducing a brand new value proposition that unlocks massive trading volume and liquidity for all traders, without compromise or limitation.”
PancakeSwap v3 aims to provide a more efficient and comprehensive trading experience, utilizing the benefits of both the Binance Smart Chain and Ethereum networks. It is expected to attract further usage adoption within decentralized finance (DeFi).