Pancake launches v3 protocol on BNBChain and Ethereum
CriptoFácil – announced the launch of the v3 protocol of its platform, on blockchains and BNBChain. According to the developers at Pancakeswap, the latest update features improved capital efficiency and four levels of trading fees ranging from 0.01% to 1%.
Unlike Pancakeswap v2 which features a default fee of 0.25%, Pancakeswap v3 users can choose from different fees depending on their trading needs. V3 is built on top of V3.
With v3, Liquidity Providers (LPs) can now focus their capital on smaller price ranges, i.e. choose a custom price range when providing liquidity.
By doing this, LPs are able to concentrate their capital into lanes where most of the trading takes place, making their money work harder.
“This is especially beneficial in stablecoin pools, where two assets hardly change in price relative to each other and the equity multiplier can reach 4,000x,” he pointed out.
Pancake listed in its official announcement some improvements brought with V3:
- Up to 25x lower trading fees for traders compared to V2
- Many times more fee earnings with the same amount of deposits for liquidity providers
- Up to 4000 times more capital efficiency, allowing you to earn with ease and watch your profits soar
- A new V3 “VIP” trade rewards program (coming soon)
- Feature to manage position (coming soon)
- Also Read: Mike Novogratz: 5 DeFi Cryptocurrencies Could Replace Banks And Exchanges
Pancake
The launch of v3 did not immediately ‘bomb’ on Ethereum and, throughout the second, 03, it registered small volumes, with US$ 3,672 recorded since its launch.
However, Pancakeswap v3 on BNBChain was seeing significantly higher volumes, with $1.02M in swaps settled.
Most of the trades in the Pancakeswap v3 BNBChain version were associated with WBNB and the stablecoin (USDT).
Pancakeswap v2, on the other hand, is currently the third largest DEX platform with $106.61 million in trading volume in the last 24 hours.
The second version of Pancakeswap has significantly more currencies and pairs, with 3,286 cryptocurrencies and 5,728 different trading pairs. It received around 5,477,351 visits in the last 30 days.
By CriptoFacil