PancakeSwap to Launch Version 3 in Early April

Top DEX PancakeSwap on BNB Chain to Upgrade to Version 3 in Early April

On March 4, decentralized exchange (DEX) PancakeSwap, operating on the BNB Chain, announced it will roll out its version 3 upgrade during the first week of April.

PancakeSwap Version 3 to Introduce New Features

PancakeSwap v3 will bring several new features to DeFi users on BNB Chain, including: more competitive trading fees, enhanced trading incentives, improved liquidity, and optimized farming operations.

Read More: A Look Back at DeFi (Part 4) – PancakeSwap’s Efforts to Retain Users

To celebrate this milestone, PancakeSwap has announced an airdrop of CAKE tokens worth $135,000 and special NFTs for users who provide liquidity to popular trading pairs on the DEX.

Currently, PancakeSwap is the largest DEX on BNB Chain, with a total value locked (TVL) of $2.49 billion, representing 51% of the blockchain’s total TVL. In the broader crypto industry, it ranks 8th by TVL.

Top DeFi Protocols by TVL as of March 4, 2023. Source: DeFiLlama

Notably, the rollout of PancakeSwap v3 is set to follow shortly after April 1, 2023, when the Uniswap v3 license expires. There’s speculation that PancakeSwap might leverage some of Uniswap v3’s innovations for its BNB Chain implementation.

Recently, Uniswap v3 proposed expanding to BNB Chain to capture market share before the license expires, but this has sparked community debate over cross-chain integration solutions.

Meanwhile, PancakeSwap expanded its DEX to the rising Aptos blockchain in October 2022.

The CAKE token price has remained relatively stable despite the upcoming launch of PancakeSwap v3 in early April.

1H Chart of CAKE/USDT on Binance as of 9:50 PM on March 4, 2023