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PancakeSwap Updates: Cross-Chain Moves, Big Burns

What are PancakeSwap's most recent updates? What has PancakeSwap changed with their IFOs? Learn everything you need to know in this article!

Bridge, StableSwap, Farm Auctions, $CAKE Burn

PancakeSwap, the dominant Decentralized Exchange (DEX) on BNB Chain, has introduced new updates and features, including a multichain expansion and fee reduction for users.

The DEX is a beehive of activity as it runs airdrops, contests, and initial farm offerings (IFOs), among others. Here’s what to look out for:

  • The DEX removed its fee on PancakeSwap Bridge, and the bridge fee is now the same as Stargate at 6bps (or 0.06%). Stargate is a liquidity transport protocol that powers the PancakeSwap Bridge.
  • The DEX launched the PancakeSwap StableSwap to allow its community and CAKE token holders to trade several stablecoin pairs efficiently and with lower slippage.
  • PancakeSwap is making several changes to its farm auctions. A farm auction is a way of elevating a project’s organic traffic and helping it grow. The proposed changes include: 1) Extending the farm auctions from 2 to 3 weeks, 2) Increasing the minimum bid from 5,000 to 7,000 $CAKE.
  • The DEX is changing the format for its IFOs. Initial farm offerings give CAKE holders early access to projects listed on PancakeSwap. The new structure gives loyal CAKE holders increased IFO benefits.
  • PancakeSwap recently announced burning just over 7 million $CAKE (about $34 million). This burn aligns with the project’s goal of making CAKE deflationary.

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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