PancakeSwap unveils third version of its protocol

The PancakeSwap team, the decentralised exchange, unveiled the third version of the protocol for the BNB Chain and Ethereum networks.

1/14 ?GM ev3ryone! The anticipated #PancakeSwapv3 is now LIVE on both BNB Chain and Ethereum!?

?Upgrade offers:
?Lowest fees in the industry
?Increased fee earnings for liquidity providers
?️New tools for seamless user experience

Read more : https://t.co/l7GQVxqVC3 pic.twitter.com/5G9TnFzxOb

— PancakeSwap?Ev3ryone’s Favourite D3X (@PancakeSwap) April 3, 2023

According to the developers’ statement, the upgraded platform will offer users lower trading fees than competitors such as SushiSwap and Uniswap.

PancakeSwap v3 will also allow liquidity providers to concentrate capital within specific price ranges. Presumably, this will boost yields on deposits.

The protocol will introduce four tiers of trading fees (0.01%, 0.05%, 0.25% and 1%), instead of the single 0.25% rate in v2. Any token pair can have a liquidity pool for each tier. The developers expect trading volumes to gravitate toward lower fee levels, while encouraging liquidity inflows to achieve balance.

In the works are two additional features:

• a VIP-trader rewards programme, including exclusive benefits and up to 5% discounts on fees;
• an automated position-management feature to improve asset utilisation in liquidity pools.

In March, PancakeSwap announced that with the launch of the v3 protocol in the first week of April it will conduct an airdrop and NFT distribution.