The countries listed are commonly restricted from traditional finance, putting the users at further disadvantage.
PancakeSwap Blocks Out DeFi Users
Beginning March 9, PancakeSwap has announced it will geoblock users for a list of blacklisted countries.
The news was first relayed on February 9 through Twitter by CryptoClub, a Persian cryptocurrency news site, that posted a screenshot of a message from PancakeSwap stating the site will no longer be available to users behind IP addresses in Belarus, Cuba, Sudan, Iran, the Democratic Republic of Congo, Zimbabwe, Syria, Iraq, and Crimea.cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/ircryptoclub/status/1491746827238060033&image=https%3A//abs.twimg.com/errors/logo46x38.png
There is still no official word from PancakeSwap for the reasoning behind the ban. The countries are often sanctioned by US institutions and the move signals a change in the air among Decentralized Exchanges (DEX). A move generally reserved for major centralized exchanges that conform to local jurisdictions, decentralized finance exchanges are now doing geoblocking.
The ban puts users from those countries and regions at a continued disadvantage when accessing both traditional finance, and now the largest exchange in decentralized finance. There are still many decentralized exchanges on Binance Smart Chain that do not restrict access to users from these countries. VPNs are a common tool for users to overcome geoblocking, and BSC News has an article with suggested VPNs for crypto users.
What PancakeSwap?
PancakeSwap is a Decentralized Exchange (DEX) built on BSC. 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 BSC.
Where to find PancakeSwap:
Source : bsc.news
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