Popular decentralized exchange PancakeSwap, built on the BNB chain, has announced Version 3 (V3) on the Ethereum (ETH) and BNB chain.
According to the news of Coindesk, PancakeSwap officials said in a statement that the upgraded version V3 will offer the cheapest fees for on-chain transactions and increased returns for liquidity providers (LPs) among its counterparts such as SushiSwap and Uniswap.
Stating that V3 will offer four different transaction fee options as 0.01%, 0.05%, 0.25% and 1%, the officials stated that V2 offers a single transaction fee option as 0.25%.
— PancakeSwap🥞Ev3ryone's Favourite D3X (@PancakeSwap) April 3, 2023
Stating that PancakeSwap V3 will offer two more new features in the future, officials said:
"PancakeSwap V3 will offer more "VIP" trade rewards program and position manager feature in the future.
The VIP program will be a tiered system that rewards traders with special benefits such as the chance to receive up to 5% trading fee discount for their trading volume.
The position manager feature will allow traders to easily deposit liquidity and optimize that position based on fees and rewards over time.
These features are currently in development and are scheduled to be introduced soon.”
In another post he made today, apart from PancakeSwap V3, he announced that 7,147,523 CAKEs worth approximately $27 million were burned.