PancakeSwap recently announced huge updates, adding lots of features and upcoming projects to their platform.
Introduce the Project Update/ Feature
On May 25th, PancakeSwap, one of the largest DEXs (decentralized exchanges) on the Binance Smart Chain network, published their April / May recap. PancakeSwap also included in their recap the tremendous amount of updates and features coming soon to the platform. The protocol aims to bring tremendous value for CAKE holders, and provides further incentive for new investors to enter the space.
Let’s start with the recap. PancakeSwap tweeted out a screenshot showing their monthly action.
PancakeSwap’s Recap for the month of April 2021:
Total unique site users: 11M+
Total unique wallet users: 1.87M+
Total volume: $39.7B USD
Average daily volume: $1.3B USD
25 Syrup Pools ($17.95M USD in additional income for CAKE stakers)
PancakeSwap’s Recap for the month of May 2021 (So far):
Total unique site users: 14.5M+
Total unique wallet users: 2.9M+
Total volume: $50B+ USD
Average daily volume: $2.2B USD
20 Syrup Pools ($10M USD in additional income for CAKE stakers)
Following the recap, the PancakeSwap team also unveiled a ton of projects coming to the platform.
PancakeSwap’s latest releases:
V2 of Syrup Pool contract
Mo Money, Mo Burning
PancakeSwap has also burned 38.5 million USD worth of CAKE in the last 45 days. The protocol also emphasized that every trade on V2 (version 2 of PancakeSwap) burns CAKE, with $23.5M USD of CAKE being bought back from the market and burned so far.
PancakeSwap’s other features have collectively generated millions of dollars, while at the same time burning CAKE. PancakeSwap highlighted that they are implementing their token burn mechanism more and more in their product lineup.
What’s Up Next For PancakeSwap
PancakeSwap has a ton of upcoming features planned. For old and new investors, the updates are good news. PancakeSwap continues to show growth and looks to expand their market share between the decentralized exchanges with these tremendous updates. For interested investors, it would be worthwhile to explore the upcoming features PancakeSwap is adding to their platform.
PancakeSwap’s Expected Future Updates:
Build out a strong Info and Analytics tool for users
Lottery (to relaunch in 3 to 4 weeks)
Voting (to launch in 1 to 2 weeks)
New and Updated Portfolio & Dashboard
Simple Liquidity – streamline new user experience for liquidity pools
Update Mobile Navigation
Benefits of the Update
PancakeSwap is bringing a lot to their DEX. Their recap showed incredibly strong numbers and holders of CAKE should be excited for what’s to come. From games to easier use of applications to updated interfaces, PancakeSwap is setting out an unrivaled standard for what encoupases a DEX. It will be incredibly exciting to see how these benefits affect CAKE and the PancakeSwap community in the coming months.
PancakeSwap is a Binance Smart Chain-based DEX that was launched by anonymous devs with a love for breakfast foods and rabbits. It resembles Ethereum’s SushiSwap, a community governance with the ability to farm liquidity provider tokens, but also incorporates many other features and benefits that let users earn rewards.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.