PancakeSwap Launches V3 with Lower Fees and Enhanced Capital Efficiency

Decentralized finance (DeFi) protocol PancakeSwap has launched version 3 of its automated market maker platform on BNB Chain and Ethereum, with the upgrade encompassing performance improvements and lower fees.

PancakeSwap is a popular DeFi platform that enables users to trade cryptocurrencies without intermediaries. It operates as an automated market maker (AMM), meaning that it relies on a smart contract to determine the price of tokens based on the ratio of supply and demand.

One of the key features of PancakeSwap V3 is enhanced capital efficiency. In the previous version of the platform, liquidity from providers (LPs) was distributed uniformly along the price curve of trading pairs. This approach was considered inefficient because assets typically trade within certain price ranges. V3 allows liquidity providers to select a custom price range to provide liquidity, allowing specific control over capital investments to higher volume trading ranges.

Moreover, PancakeSwap V3 features four new trading fee tiers ranging from 0.01% to 1%, which is a change from V2’s standard 0.25%. Every token pair can have liquidity pools for each tier. PancakeSwap expects asset pairs to be drawn to tiers where incentives for LPs and traders align. This approach is an effort to balance between traders targeting the lowest fees while still incentivizing LPs. The higher percentage trading fee tiers cater to assets that have higher impermanent loss or lower liquidity. This mechanism intends to provide more fee revenue and incentive for LPs.

PancakeSwap caters to a broad DeFi user base, accounting for over $2.5 billion of total value locked and serving over 1.5 million unique users. The platform also revealed upcoming features that are still in development, including a trading rewards program incentivizing traders with exclusive benefits, while a position manager feature aims to improve user experience when depositing tokens as liquidity.

In other news, Arbitrum (ARB) has been in the spotlight in March, with its highly-anticipated airdrop consolidating around $3.3 million from over 1,400 addresses into two controlling wallets. Arbitrum is a layer-2 scaling solution for Ethereum that aims to improve its scalability and lower its transaction fees. Its airdrop has generated significant interest from DeFi enthusiasts who are looking for new opportunities to earn rewards.

In summary, PancakeSwap V3 is a significant upgrade that aims to improve capital efficiency and lower trading fees. It also features four new trading fee tiers that cater to different types of assets and traders. With over 1.5 million unique users and more upcoming features in development, PancakeSwap is likely to remain a popular DeFi platform.


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PancakeSwap Proposes to Deploy Mainnet on Aptos Blockchain

Developers of the decentralized exchange, PancakeSwap, on October 20, proposed its deployment to the Aptos blockchain due to the chain’s innovative and technical capabilities.


The proposal read, “After careful analysis, we are proposing to deploy on Aptos.” Currently, PancakeSwap is based on the BNB chain with a daily volume of about $47 million. However, the protocol developer wants to try a new move by migrating to Aptos.

Citing the proposal, PancakeSwap chose to deploy to the Aptos chain because it is a next-generation Layer 1 with low transaction costs, high transaction throughput, and fast transaction speeds. And in addition, the Aptos team has worked on multiple crypto products, specifically in the web3 industry. 

Also, Aptos has a “vibrant developer ecosystem” with many protocols in the pipeline. The developers stated in the proposal that a “large proportion of its ecosystem is suitable for PancakeSwap partnerships and products.” Finally, the developers added that PancakeSwap had developed a strong relationship with the Aptos team. 

If the community passes the proposal, PancakeSwap will be deployed with four main features, including swaps, farms, pools, and initial farm offerings on Aptos by Q4 2022. As the developers stated in the proposal, this move will be made quickly so PancakeSwap can establish itself as the leading DEX on Aptos.

Additionally, the PancakeSwap native token, $CAKE, will also be natively available on the Aptos blockchain, making it the first time $CAKE will be natively available on other chains. A vote for the proposal will commence on the platform today.

Founded by former Meta employees Mo Shaikh and Avery Ching, Aptos blockchain is one of the latest L1 mainnet in the industry. Following its mainnet launch four days ago, it distributed 20 million Aptos ($APT) tokens as an airdrop to its early testnet users.

This, including the blockchain’s proclaimed capabilities of processing 130,000 transactions per second (TPS), has made the network gain so much traction since its launch. 

However, it’s worth noting the Aptos mainnet is only handling about 16 TPS at the time of writing, though it’s notably higher than the 4 TPS it started with on the day of its mainnet launch. 

Prior to its mainnet launch, Aptos Labs raised a total of $150 million in July to support further development of its programming language, as well as expand its team further and continue developing ecosystem funds designed to attract developers and grow its community.

Image source: Shutterstock


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PancakeSwap’s Native Token Once Surged by Nearly 10% after Binance Labs Sets Foot in Ecosystem

After Binance Labs, the incubation and venture capital arm of crypto exchange Binance made a strategic investment in PancakeSwap, the network’s utility and governance token, CAKE, which has once soared by nearly 10%.

As the leading decentralized exchange (DEX) built on BNB Chain, PancakeSwap’s daily active users have reached at least 400,000 since its launch in September 2020.

CAKE was up by 5.3% to hit $4.62 before dropping over 2.5%, hitting $4.35 during the Asia trading section, with its 24-hour trading volume clocking $159 million, according to CoinMarketCap

The investment made by Binance Labs is meant to open the doors to the next wave of blockchain adoption like Web3 exploration by providing enterprise solutions, marketing and community support, and technology development.

Bill Qian, the head of Binance Labs, pointed out:

“PancakeSwap has been leading the development and mass adoption of BNB Chain. Given that PancakeSwap is the most widely used dApp and the DeFi project with the highest TVL on BNB Chain, we have and will continue to provide strong support for the project.” 

Unlike most other decentralized exchanges, PancakeSwap harnesses the BNB Chain, which uses a next-generation consensus mechanism known as Proof of Staked Authority (PoSA) to enhance efficiency levels. 

Therefore, PancakeSwap represents a turning point for decentralized finance (DeFi) on BNB Chain since it paves the way for many DeFi solutions, including yield farms, synthetics, and wrapped asset swaps.  

PancakeSwap’s AMM model

Using an automated market maker (AMM) model, PancakeSwap enables the swapping of BEP-20 tokens and permits users to trade against a liquidity pool. 

BNB Chain is a decentralized public blockchain network launched by Binance. It has played an instrumental role in powering the decentralized application (dApp) sector. For instance, it hosts more than 1,300 active dApps in different areas like non-fungible token (NFT), Metaverse, blockchain games, and DeFi.

As a result, BNB Chain has carried out at least 3 billion transactions undertaken by 163 million unique addresses since its inception in 2020. 

Image source: Shutterstock


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StakeMoon Coin Officially Launches on PancakeSwap Following Successful Pre-Sale

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StakeMoon launches on the PancakeSwap decentralized exchange (DEX) today. StakeMoon listing on the PancakeSwap has created a marketplace for buyers and sellers to transact. This DEX will enable users to buy, sell, and trade hundreds of decentralized finance (DeFi) currencies without third-party involvement. The value of StakeMoon will therefore be dictated by market forces.

The StakeMoon listing announcement comes after a successful pre-sale, where the coin raised more than $500,000

PancakeSwap has the most users of any decentralized platform, ever created, and those users are now entrusting the platform with over $14 billion in funds. PancakeSwap, is an automated market maker (AMM)and its liquidity is contributed by users, known as liquidity providers (LPs), who add equal values of both sides of a liquidity pool to increase the total amount of liquidity available. In return for providing liquidity, LPs receive a share of the transaction fees generated by any pools they contribute. There is a flat 0.25% transaction fee for makers and takers, most of which is shared among the liquidity providers.

Scott Ryder, CEO of StakeMoon, shared:

“PancakeSwap was the obvious choice for StakeMoon’s initial exchange listing. The DEX offers unique benefits to provide an excellent trading experience, including extremely low transaction fees and rapid confirmation times for quick and safe trading.”

StakeMoon is a Binance Smart Chain-based autonomous staking and liquidity-creating technology. To discourage day trading on this coin, the creators implemented a taxation rate of 15% on all transactions. Of this figure, 10% is distributed to existing token holders, while the remaining 5% is allocated to the StakeMoon liquidity pool.

StakeMoon strives to reward long-term holders via a taxation policy that penalizes market speculators, resulting in regular dividend payments for existing token holders and flexible staking rewards. The StakeMoon tokens are not locked into a minimum redemption period. Instead, “stakers” can withdraw their StakeMoon at any given time.

StakeMoon is a Binance Smart Chain-based autonomous staking and liquidity creating technology, launching new and innovative digital cryptocurrency projects.

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Game over! Squid Game-inspired crypto scam collapses as price crashes from $2.8K to zero

A cryptocurrency inspired by Netflix’s internationally hit TV show Squid Game scammed investors in what appears to be a $3.38-million “rug pull” scheme.

Dubbed SQUID, the cryptocurrency plunged to almost a fraction of a cent minutes after crossing over $2,850 at 09:35 UTC on Nov. 1. The deadly drop oed following a 75,000% bull run, showcasing a greater demand for SQUID among traders after its debut on Oct. 26.

At the core of the retail craze lay the popularity of Squid Game. The scammers promoted SQUID as a play-to-earn cryptocurrency inspired by the South Korean TV fictional show in which people put their lives at risk to play a series of children’s games for the opportunity to win 45.6 billion won (~$38.7 million).

The marketing ploy helped push SQUID prices from $0.01 on Oct. 26 to over $38 on Sunday. The cryptocurrency then jumped to $90 on Nov. 1, ushering in a massive pumping round that pushed its price further to over $2,850, only to crash all the way down to $0.002 minutes later.

SQUID price pump and dump. Source: CoinMarketCap

Red flags

In the days leading up to the massive crash, traders had complained that they could not sell their SQUID holdings in the only available market, a decentralized exchange called PancakeSwap. In their defense, SQUID founders said they had deployed an innovative “anti-dumping technology” that limits people from selling their tokens against lower demand.

“The more people join, the larger reward pool will be (sic),” the Squid Game white paper read, adding: 

“Developers will take 10% of the entry fee with the remaining 90% given to the winner.”

Major news network CNBC also published the Squid Game cryptocurrency founders’ claims without omissions, insofar that it called SQUID the “very own brand” of the Netflix show.

The Squid Game cryptocurrency founders also said they were affiliated with the Netflix show as its official token partner. They also claimed that they had entered a strategic partnership with CoinGecko, a crypto data provider. However, in an interview with Cointelegraph, CoinGecko co-founder Bobby Ong refuted the claims, saying:

“[SQUID] did not meet our listing criteria, hence it will not be listed on CoinGecko. It’s most likely a scam.”

CoinMarketCap, a rival of CoinGecko, listed SQUID on its platform but warned visitors about the cryptocurrency’s dubious nature in a notice that read:

“There is growing evidence that this project has rugged. Please do your own due diligence and exercise extreme caution. This project, while clearly inspired by the Netflix show of the same name, is NOT affiliated with the official IP.”

Related: YouTube channels hacked and rebranded for livestreaming crypto scams

Meanwhile, analysts also noted that the Squid Game token founders had no profiles on LinkedIn, with Twitterati Crypto Tyrion ruling SQUID as a “100% rug pull.”

It now appears like a “game over” scenario for the SQUID bag holders. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.