The biggest DEX in crypto has stepped onto the battlefield with the future of DeFi on BNB Chain up for grabs.
Uniswap on BNB Chain
The biggest Decentralized Exchange (DEX) in crypto has entered the arena, setting up an epic Battle of the DEXes on BNB Chain. Uniswap v3 officially went live on BNB on March 15.
Uniswap is now live on @BNBCHAIN 🔶🦄https://t.co/LWPd2TE1x4 pic.twitter.com/j6aJpoG87z
— BNB Chain (@BNBCHAIN) March 15, 2023
The deployment of Uniswap on BNB occurred after a clear majority of $UNI holders voted in favor of the expansion in February. The move from Uniswap is noteworth not only in that it brings serious competition to long-dominant Decentralized Finance (DeFi) protocol PancakeSwap, but it is the first time that Uniswap is entering a major blockchain with such a strong rival already ensconced.
The announcement from Uniswap attracted the attention of the biggest name in BNB Chain, Binance CEO Changpeng Zhao (CZ) himself.
Uniswap on @BNBCHAIN now. https://t.co/uoj3DMFKKI
— CZ 🔶 Binance (@cz_binance) March 15, 2023
While Uniswap is the biggest, newest bully on the block, the BNB Chain DEX environment has become increasingly competitive in 2023, with the arrival of Trader Joe, the presence of ApeSwap, BiSwap and DODO, and the emergence of native protocols such as Thena, Baby Doge Swap and Wombat Exchange.
The PancakeSwap chefs didn’t get to the top of the BNB Chain mountain by resting on their spatulas, of course. They are putting ambitious plans of their own in action, including expanding to Aptos and Ethereum, as well as debuting their Market Maker Integration feature to reduce costs when swapping the most popular coin pairs.
Perhaps the decisive move in the Battle of the DEXes for the chefs will be when they launch PancakeSwap v3 in April. (PancakeSwap started out as a fork of Uniswap v2.)
To prepare for the v3 launch, PancakeSwap is offering a $135,000 airdrop to liquidity providers, including the chance to win a special V3 Early Supporter NFT – appearing as a crowned bunny superhero chef standing astride a stack of $CAKE and pancakes.
😍Want to get your hands on our #PancakeSwapv3 Legend NFT?
— PancakeSwap 🥞 #Multichain (@PancakeSwap) March 16, 2023
⏰Remember to maintain the selected liquidity until April 3, 12:00 UTC
🔔You can add an additional $500-$20K liquidity and maintain it until April 3, 12:00 UTC to share $30K #CAKE & get a V3 Early Supporter NFT! pic.twitter.com/1UehlmclfX
Nobody knows how any single protocol will fare during this Battle of the DEXes, but the diversification of platforms and invigorating influence of competition should be considered healthy for the BNB Chain DeFi ecosystem as a whole.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Website | Twitter | Discord | Telegram | GitHub |
What is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain and available multichain on Ethereum and Aptos. It offers users various features such as Liquidity Pools (LPs), swapping, yield farming, Syrup Pools, an Automated Market Maker, Initial Farm Offerings (IFOs), an NFT profile system, and other tools. In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on BNB Chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub |
What is Uniswap:
Uniswap was launched in November 2018 and has grown to become the largest decentralized exchange in its category. It was built open-source on the Ethereum blockchain and uses the AMM model to facilitate Ethereum ERC-20 token swaps.
Much of the progress made in Ethereum-based DeFi expansion is attributable to Uniswap as it provided the market-making utility for Web3 apps to function in a decentralized environment. The platform consistently records daily trade volumes of over half a billion dollars and has a total volume locked (TVL) of more than $3 billion. The platform has traded over $1 trillion since it launched via over 129 million transactions.
Where to find Uniswap:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
A New Solana Memecoin With $19 Million: What is Milady Wif Hat?
Named after the renowned Solana meme coin Dogwifhat (WIF), Milady Wif Hat swiftly reached its maximum funding cap of 88,888 Solana (SOL) within hours of its launch.
Introduction: Milady Wif Hat
Milady Wif Hat, a new meme coin on the Solana network, has made waves by swiftly gathering $19 million in funding during its presale in just two hours. Named after the well-known Solana meme coin Dogwifhat (WIF), Milady Wif Hat garnered a maximum funding of 88,888 Solana (SOL).
🎩 Milady Wif Hat presale is now live! 🚀
— Milady (@miladymemecoin) March 18, 2024
Presale is live for the ever-fashionable SOL-loving Milady wif hat. Sending some love to the SOL community now 💗
Wallet address : 4K9tmyjpdu9ogw95JRTZkPkNppw8v1gnuGHBaYir96tt pic.twitter.com/1VdUjilB1E
With Milady Wif Hat, investors could participate with a minimum investment of 1 SOL, capped at 88,888 SOL. The presale, set for a 24-hour duration, saw an overwhelming response, becoming oversubscribed within hours of its launch.
📢 Closure of Milady wif hat presales! 🚀
— Milady (@miladymemecoin) March 18, 2024
Milady Wif Hat presale has soared to its limit of 88,888 SOL and is now closed. 🎉
Any additional Solana raised will have 100% of their funds returned.
Thank you all for the incredible support! 🙌 💖 pic.twitter.com/zEzDGEVlQy
Following the closure of the presale, additional contributions were reportedly returned.
Milady Origins
Milady memecoin's journey began as a decentralized meme token ($LADYS) on the Binance Smart Chain, debuting in 2022. Inspired by the internet meme culture surrounding "Milady" images, which exude grace and elegance, the project aims to infuse humor and lightheartedness into finance.
With a fixed total supply of 1 billion tokens, LADYS employs a deflationary mechanism, burning 10% of the initial supply to enhance scarcity. Furthermore, the tokenomics incorporate a 10% tax on transactions, with 5% redistributed to holders as rewards and the remaining 5% allocated to the liquidity pool, incentivizing long-term holding strategies.
Milady Wif Hat memecoin is the newest addition to the Milady ecosystem.
Challenges Along the Way
Despite its promising trajectory, Milady has faced challenges on its rise. Charlotte Fang, the founder of NFT projects Milady and Remilia, recently confirmed a security breach of treasury addresses, resulting in significant financial losses.
The transfer of ownership of the treasury to the drainer occurred before the suspicious transactions, according to PeckShield experts. Prior to this, in September 2023, Fang reported that the Milady NFT ecosystem developers had stolen about $1 million and hacked its social media accounts.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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