On Monday, April 3, decentralized exchange (dex) platform Pancakeswap launched protocol version 3 (v3). This new application aims to improve the performance of the dex protocol and reduce fees by implementing a four-tier transaction fee.
New features and capital efficiency improvements offered in Pancake Swap version 3
On Monday, Pancakeswap launched version 3 of its protocol on the Ethereum and Binance Coin (BNB) blockchain, following its announcement in the first week of March.” It’s Pancakeswap v3 Day. tell us how excited you are,” the official Twitter account of the dex platformposted. According to Pancakeswap developers, the latest version has improved capital efficiency, allowing liquidity providers to focus their capital more efficiently.
Pancakeswap v2’s standard fee is 0.25%, while Pancakeswap v3 users can choose from four different fees: 0.01%, 0.05%, 0.25%, and 1%. pancakeswap developers will soon be offering v3 VIP reward program will be introduced and dex traders will be able to earn VIP transaction fee rebates, he explained. So far, both ethereum and binance coin (BNBv3 platforms have emerged with small volumes.
at the time of writing,Pancakeswap v3 volume on Ethereumis very low, with only $3,672 recorded since inception. Currently, ethereum-based Pancakeswap v3 pairs wrapped ethereum (WETH) with stablecoins USDC and. usdt. In contrast,. the Pancakeswap v3 for Binance Coin (BNB)has considerably more volume, with $1.02 million in settled swaps recorded at the time of writing. Currently,the BNBversion has 7 coins and 14 different trading pairs.
at 64.83%, the majority of trades in the Pancakeswap v3 Binance Coin (BNB) version are related to the wrap; BNB (WBNB) and the stablecoin tether (USDT). Pancakeswap v2, on the other hand, is currently the third largest dex platform, with a 24-hour trading volume of $106.61 million. pancakeswap v2 has significantly more coins and pairs, with 3,286 crypto assets and 5,728 different trading pairs. The second version of Pancakeswap dex has received approximately 5,477,351 visits in the past 30 days.
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