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PancakeSwap Revises GameFi Plans, Hints at Multi-Chain Expansion: July Report

DeFi protocol turns away from games but starts eyeing Ethereum.

No PancakeSwap Games For Now

BNB Chain's leading Decentralized Finance (DeFi) protocol, PancakeSwap, has temporarily pulled back on its GameFi expansion plans. 

The Decentralized Exchange (DEX) hinted in a February Ask-Me-Anything (AMA) that it was developing a simple game in its first attempt to expand into the GameFi niche. Then during a Twitter Space AMA on July 20, Chef Cadbury, PancakeSwap's Project Manager, announced that the platform would no longer pursue the development of its own native game.

Source

While it may be disappointing to members of the PancakeSwap community who were hoping to see the platform join the GameFi trend, the decision is based upon PancakeSwap playing to its traditional area of strength as a DEX.

Chef Cadbury said the team realized they would need extensive research, time, and effort to be able to come up with sustainable games that will offer real entertainment utility. Rather than risking launching something below par in quality, the team has decided to look at the option of collaborating with other protocols more experienced in the area of game development. For now, releasing a blockchain game in the Q3 of 2022 is not on PancakeSwap's radar.

Ethereum: The Next Frontier?

On a different note, PancakeSwap confirmed in the July Monthly Report that the platform is indeed working toward expanding to other blockchains.

According to the report: “We are hard at work building on other chains in a way that’s familiar to all existing PancakeSwap users. We believe in serving new and existing users on other chains in a way that will encourage them to try all the great features on BNB Chain. Do keep your eyes peeled and join us as we grow from strength to strength!”

As revealed in July's Twitter Space AMA, PancakeSwap will likely begin its multi-chain journey on the Ethereum blockchain. The team expects strong competition from the existing DEXes on Ethereum but hopes to replicate its BNB Chain popularity on Ethereum as well.

With $3.3 billion in Total Value Locked (TVL), PancakeSwap is the dominant Decentralized Application (dApp) on BNB Chain, accounting for about half of all TVL on the chain, according to DefiLlama data.

In the much larger Ethereum ecosystem (more than eight times as much TVL as BNB), PancakeSwap would rank seventh in terms of TVL (behind Compound) and third among DEXes (behind Uniswap and Curve, and ahead of Balancer).

Here is the LINK to PancakeSwap's July Report and roadmap for the Q3 of the year.

The PancakeSwap community can look forward to updates in the days ahead, as the platform's chefs are already preparing their recipes for the final quarter of the year.

What Is PancakeSwap:

PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others. 

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 the BNB Chain.

Where to find PancakeSwap: 

Website | Twitter | Medium | GitHub 

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