Bitcoin

Decentralized Exchange Pancakeswap to Launch Version 3 Iteration in April

On March 4, the decentralized exchange Pancakeswap announced that the team plans to launch its version three (v3) iteration of the platform during the first week of April 2023. Pancakeswap v3 will provide new features and improve liquidity alongside enhancements in interface accessibility and the decentralized exchange (dex) platform’s yield farming experience.

Pancakeswap Announces Version 3 Launch Date

Pancakeswap, the multichain dex platform, announced the launch of the program’s third iteration, called Pancakeswap v3. The application is set to go live during the first week of April on the Binance Smart Chain (BSC). The new application will include new features, such as improved liquidity provisioning, competitive trading fees, trading incentives, and an enhanced yield farming experience, all accessible from a user-friendly interface.

The decentralized finance (defi) protocol Pancakeswap v2 supports other blockchains like Aptos and Ethereum in addition to BSC. Over the last 24 hours, dex platforms recorded $1.47 billion in dex trade volume, and Pancakeswap v2 is the second-largest dex by trade volume. In the last day, the dex platform Pancakeswap v2 recorded $97,179,718 settled. The exchange offers a much larger quantity of coins compared to Uniswap’s 955 coins listed, as Pancakeswap provides trades with 3,223 tokens.

To celebrate the version three launch, Pancakeswap is offering an early supporter program with $135,000 worth of CAKE and a Pancakeswap v3 non-fungible token (NFT) to reward users. “We’re excited to continue our mission of bringing defi to everyone with the launch of Pancakeswap v3. The new features we’re introducing will offer our users an even better experience and help make defi accessible to more people than ever before,” said Mochi, the head chef of Pancakeswap, in a statement sent to Bitcoin.com News.

One of Pancakeswap’s competitors is Uniswap, the largest dex by trade volume over the last 24 hours. Uniswap recently announced the launch of a mobile application but hasn’t been given the green light by Apple. Other dex competitors include Sushiswap, Balancer, Trader Joe v2, and Shibaswap. Besides the $97 million in global trade volume, Pancakeswap has $2.49 billion total value locked, and $2.45 billion stems from the Binance Smart Chain (BSC) network. There’s also $29.72 million in Aptos locked and $17.27 million in Ethereum.

Tags in this story
Accessibility, aptos, Balancer, Binance Smart Chain, Blockchain, competition, Cryptocurrency, decentralized exchange, DeFi, DEX, early supporter program, Ethereum, Global Trade Volume, Head Chef, improved features, interface, Liquidity, mobile application, Mochi, nft, Pancakeswap, Rewards, Shibaswap, Sushiswap, Tokens, total value locked, Trader Joe V2, trading, Trading Fees, trading incentives, uniswap, user-friendly, yield farming

What are your thoughts on the launch of Pancakeswap v3? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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