The CAKE token rose more than 20% after the non-custodial exchange PancakeSwap announced an integration with the Binance mobile app.
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According to CoinMarketCap data, on March 17 the asset’s price rose from $5.70 to nearly $7.20, before retreating to $6.50.
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According to the official announcement, a “mini-version” of PancakeSwap will appear in the Binance mobile app marketplace. The integration is designed to give users of the centralized Binance platform access to the decentralized finance space.
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In addition, Binance launched its own non-custodial Web3 wallet, the Binance DeFi Wallet, which will allow interaction with PancakeSwap and other decentralized protocols.
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“The Binance DeFi Wallet is designed to make it easier for new users to register and transfer funds. With the wallet, switching between Binance and DeFi is straightforward, and you do not have to worry about choosing blockchains or copying the correct address,” say representatives of the platform.
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Binance noted that access to PancakeSwap would be gradually opened to its users through the marketplace, starting from March 17. Mayur Kamat, Binance’s product lead, said that, in future the exchange will offer access to other DeFi services.
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To access the marketplace, swipe down the main screen at the top of the Binance mobile app:
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In the marketplace, the PancakeSwap app can be found via search.
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Note: today the price of the Aave rose by 18% after the release of the third version of the protocol.
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In January, developers of BNB Chain (formerly Binance Smart Chain) presented plans for 2022 development, prioritising scalability.
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