📰 Table Of Contents
PancakeSwap Announces PancakeSwap V4 and CAKE Airdrop Campaign
Decentralized exchange PancakeSwap has announced PancakeSwap V4 and a CAKE airdrop campaign to celebrate it. The $3 million CAKE airdrop is aimed at incentivizing both current users and newcomers to explore the benefits of the upgraded platform. The airdrop is available on a first-come, first-served basis.
Reducing Fees
The PancakeSwap team has introduced PancakeSwap V4 with a range of technical advancements and features to enhance efficiency, reduce costs, and streamline the trading experience. One significant improvement is the consolidation of all pools into a single contract, resulting in substantial gas savings of up to 99% in pool creation costs.
Additionally, the implementation of a “flash accounting” system operates on net balances, reducing unnecessary token transfers and further minimizing gas consumption for users.
PancakeSwap V4 also offers enhanced fee tier flexibility, allowing pool creators to customize fee structures according to their needs. The reintroduction of native ETH support aims to enhance gas savings even further.
Future Developments
With the upcoming Ethereum Cancun hard fork, PancakeSwap is considering the adoption of EIP-1153, which introduces “transient storage” for additional gas improvements and cleaner contract designs.
Trading Volume Statistics
According to DefiLlama, the total 24-hour trading volume for DEXes is currently at $8.788 billion, with a 7-day trading volume of $67.15 billion and a +26.35% weekly change. Over the past week, PancakeSwap’s volume increased by nearly 74% to $10.705 billion, with a daily volume of $1.339 billion.
PancakeSwap ranks second in both 7-day and 24-hour trading volumes, behind Uniswap. Uniswap leads in cumulative volume with $2.371 trillion, while PancakeSwap follows in third place with $677.531 billion.
February Performance
In February, PancakeSwap reported a total volume of $15.8 billion, up from $15.5 billion in January. The average daily volume for February was $545.4 million, with 1.7 million unique traders. The project burned 1,079,517 CAKE in February.
At the time of writing, CAKE is trading at $4.16, reflecting a 2.6% increase in a day, 25% in a week, and 62% in a month.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
