Crypto NewsAltcoinBinance-Listed Altcoin Announces Major Update

Binance-Listed Altcoin Announces Major Update

The developers of the popular altcoin stated in their statement that they will release a major update later this year.

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PancakeSwap, one of the most popular decentralized cryptocurrency exchange applications, announced that it will release Version 4 (v4) later this year.

The new version aims to make on-chain trading more affordable and efficient for its users.

Lead developer Chef Mochi announced that the PancakeSwap v4 code will be released under an open source license. According to the statement, the new version addresses existing limitations of automated market makers (AMMs), including inflexible pricing models for all assets, lack of execution functions at the central exchange (CEX) level, impermanent losses for liquidity providers, and high on-chain transaction fees for users. was designed to address.

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The new version will offer four new features:

  • Hooks: These can be defined as externally deployed contracts that allow developers to add customizable plugins. These plugins can change the type of fee charged for a trade and the type of trading order (such as limit or market orders). Developers of these hooks have the option of keeping the fees for themselves or distributing them among stakers.
  • Custom Pool Types: This feature provides users with various types of liquidity pools. It aims to offer better pricing for listed assets and thus avoid severe price fluctuations during periods of high demand or sales. This allows tokens to be priced more favorably during market stress.
  • Singleton: This feature combines all repositories into a single contract, reducing deployment cost by 99%. It also further reduces the transaction fee cost for exchanges (the fee paid for each blockchain transfer) as there is no need to transfer tokens between separate contracts.
  • Flash Calculation: This feature, which also reduces the transaction fee cost, performs multiple transactions in bulk. Trading fees often rise during periods of market volatility, making trading extremely expensive. Flash computing solves this problem, increasing the user's ability to trade.

PancakeSwap v4 will first be available on the Ethereum and BNB Chain networks in the third quarter of this year.

*This is not investment advice.

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