Decentralized exchange Pancakeswap has announced that the v3 version of the platform will be launching in the first week of April this year. The new iteration of the application will bring new features and improved liquidity to the table, alongside increased interface accessibility and enhanced yield farming experiences.
Pancakeswap Announces Launch of Version 3 in April
Pancakeswap, the multi-chain decentralized exchange, has announced that its third iteration, dubbed Pancakeswap v3, will be released in the first week of April this year. The new version will be available on the Binance Smart Chain (BSC) and will offer users a variety of new features, including lower trading fees, liquidity provisioning, trading incentives and improved yield farming opportunities, all of which can be accessed through an easy to use interface.
As the largest protocol of its kind in the decentralized finance (defi) space, Pancakeswap v2 currently supports other blockchains such as Ethereum and Aptos, alongside the BSC. According to the latest figures, dex platforms reported a 24 hour trade volume of $1.47 billion, with Pancakeswap v2 accounting for the second largest share. On the final day of Pancakeswap v2, the exchange settled for a total of $97,179.718 and offered users access to over 3,223 tokens, far more than traditional currency exchanges.
To celebrate the launch of v3, Pancakeswap is offering an early supporter program to reward users. This includes $135,000 worth of CAKE tokens and exclusive NFTs. Mochi, the head chef at Pancakeswap, said in a statement to Bitcoin.com News: “We’re thrilled to be continuing our mission of bringing defi to everyone with the launch of Pancakeswap v3. The new features we’re introducing will give our users the best experience possible, and help make defi more accessible than ever before.”
Pancakeswap’s main competitor, Uniswap, reported a 24 hour trade volume of $1.44 billion. Uniswap recently revealed a mobile app, although this is still being reviewed by Apple and Google. In comparison to Uniswap’s 955 coins listed, Pancakeswap offers users access to over 3,223 tokens.
Pancakeswap, one of the leading decentralized exchanges, is about to launch its third iteration in April 2021. This move will further enhance the competition between existing DEXs, such as Sushiswap, Balancer, Trader Joe v2, and Shibaswap. With a global trade volume of $97 million and a total value locked of $2.49 trillion, the Binance Smart Chain (BSC) network accounts for $2.45 billion of that total. Aptos Locked is worth $29.72 million, while Ethereum holds $17.27 million.
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