After launching PancakeSwap V3 at the beginning of April, the decentralized exchange has unveiled its latest roadmap. This includes plans for new features on the platform and measures to control cake inflation.
Following a tradition that dates back to its inception, PancakeSwap V3 copied most of its code from UniSwap’s V3 upgrade. But while PancakeSwap was initially little more than a Uniswap clone moved to the BNB Chain, since its launch it has followed a multi-chain strategy.
Now deployed on Aptos and Ethereum as well, PancakeSwap is growing its presence across the DeFi ecosystem.
in AMA This week, PancakeSwap’s product manager noted that the V3 upgrade is central to PancakeSwap’s ambition to expand beyond its roots. He commented, “We are looking forward to further expansion of some other strong and promising blockchains to seize (…) the many great opportunities.”
During an AMA session, chef Mochi claimed that PancakeSwap is currently the largest decentralized exchange (DEX) on the Aptos and BNB chain. Moreover, ten days after the PancakeSwap V3 expansion, the platform has broken into the top 10 DEXs by volume on Ethereum.
New features under development for PancakeSwap V3
Much of the current product development is focused on bringing the functionality that the community has come to expect in the BNB chain to the newly opened regions.
This includes extending the exchange’s native CAKE token to take advantage of the recent growth in multichain. Specifically, the team said they are exploring how the PancakeSwap V3 upgrade could bring the locked CAKE tool to other blockchains.
In addition to reworking tried-and-tested features for Aptos and Ethereum users, other new features that the platform planned to implement on PancakeSwap V3 include a tool to help users automate their liquidity positions.
This position manager will allow other protocols to present their strategies to liquidity providers. Thus, users will have access to a range of different strategies for automating their sites.
PancakeSwap developers are trying to curb pancake bloat
Aside from product development, longtime PancakeSwap users are understandably concerned with cake swells. Apparently aware of this problem, DEX developers have sought to change the cropping mechanism in PancakeSwap so that it creates less cake.
As part of the PancakeSwap V3 upgrade, the amount of CAKE generated will be reduced. BNB chain will see a 45% return drop along with a 32% cut on Ethereum. In addition, the DEX hopes that its multi-chain strategy will lead to higher trading volumes. This will burn more cake without negatively impacting returns.
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