CDS Crypto News PancakeSwap v4 Update: Enhancing User Experience and Scalability
Crypto News

PancakeSwap v4 Update: Enhancing User Experience and Scalability

106
Pancakeswap V4 Update: Enhancing User Experience And Scalability

PancakeSwap v4- Understanding PancakeSwap’s Decline in Total Value Locked

PancakeSwap v4– Decentralized exchange PancakeSwap has reported an impressive cumulative trading volume of $836 billion since its launch. Over four years of operation, it has also reached a total value locked (TVL) of approximately $1.72 billion.

Total Value Locked: A Decline from All-Time Highs

Pancakeswap V4 Update: Enhancing User Experience And Scalability

As of September 20, PancakeSwap’s TVL stood at about $1.72 billion, reflecting a significant decrease from its all-time high of $7.16 billion on May 4, 2021, according to DefiLlama. Earlier this year, on March 30, PancakeSwap’s TVL was approximately $2.42 billion, showing a consistent downward trend. The exchange operates on an automated market maker (AMM) model and serves over 43 million unique addresses.

Upcoming PancakeSwap v4 Update

PancakeSwap has announced plans to release PancakeSwap v4, a major update designed to enhance user experience and scalability. This update aims to build on PancakeSwap’s existing foundation by improving liquidity provision and interoperability. According to spokesperson Kids, the protocol will focus on increasing flexibility and functionality within the decentralized exchange space. As user experience improves, PancakeSwap anticipates a boost in trading volume, which could lead to increased protocol revenue. Kids elaborated:

“We’ll focus on increasing capital efficiency and providing a streamlined interface for liquidity providers, which will attract more participants, enhance market depth, and lead to better price execution.”

Expansion Plans for PancakeSwap

This year, PancakeSwap released its v4 white paper, introducing a $500,000 developer program aimed at attracting top-tier builders ahead of the official launch of v4. As part of this initiative, PancakeSwap is currently hosting a v4 Hookathon on Dorahacks, with submissions open until September 30.

Multi-Chain Availability and Future Expansion

Launched in 2020, PancakeSwap operates across nine chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, ZKsync Era, Arbitrum One, Linea, Base, and opBNB. Kids stated that PancakeSwap plans to expand its DEX to additional chains. By focusing on product-market fit, PancakeSwap has identified that many DEXs lack essential functionality and user experience. By enhancing accessibility and trading efficiency on emerging networks, PancakeSwap aims to fill a crucial market gap.

Pancakeswap V4 Update: Enhancing User Experience And Scalability

Leave a comment

Leave a Reply

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...