- PancakeSwap V3 was released on Ethereum and BNB Chain.
- The news caused the CAKE price to surge by $3.83 to $3.83.
- The new platform will have the lowest fees for trades on-chain.
CAKE was trading at $3.77 as of press time, up 2.13% from the day PancakeSwap launched its version 3 on Ethereum.
The new platform will have the lowest on-chain fees among its competitors such as Uniswap, SushiSwap, and SushiSwap. It will also provide higher returns to liquidity providers.
PancakeSwap V3 has introduced features
The new platform allows liquidity providers to focus their capital on smaller areas leading to higher returns.
PancakeSwap V3 introduces four trading fee tiers to its users. These fees tiers are 0.1%, 0.05% and 0.25% respectively, as opposed to the 0.25% that PancakeSwapV2 offered. Each token pair can also have its own liquidity pool.
PancakeSwap also plans to add two new features. The new features include a VIP trading reward system and a position manager function. The exchange’s VIP program is a tired system that rewards traders with things like up to 5% trading fee rebates depending on their trading volume.
The position manager feature allows traders to deposit liquidity easily and optimize their positions based upon rewards and fees over time. This feature eliminates the need to manually calculate third-party integrations, allowing users to adjust their positions automatically to maximize on returns.
