PancakeSwap 3.0 Aims to Promote Multichain Development

In its most recent expansion into multichain DeFi, PancakeSwap has released version 3. Afterward, developers usually reveal the next updates.

The decentralized exchange, after the release of PancakeSwap V3 at the start of April, has released its newest roadmap. These include initiatives to curb CAKE inflation as well as plans for more platform features.

PancakeSwap V3 continued a long-standing pattern of stealing large chunks of code from UniSwap’s own V3 release. PancakeSwap has used a multichain approach from its inception when it was essentially just a Uniswap clone ported to BNB Chain.

PancakeSwap is expanding its footprint in the DeFi ecosystem with its recent deployment on Aptos and Ethereum.

PancakeSwap’s Product Manager said in an AMA this week that the V3 update is crucial to the company’s plans to grow beyond its current scope. To “further expand to some other strong and promising blockchains to capture […] many great opportunities,” he said.

Chef in Charge Mochi made the assertion that PancakeSwap is the biggest DEX on Aptos and BNB Chain during the Ask Me Anything session. Furthermore, after just ten days of PancakeSwap V3’s expansion, the platform has ranked among Ethereum’s top ten DEXs in terms of volume.

Current product development efforts are focused on expanding the features and capabilities that the BNB chain community has grown to anticipate in the newly acquired regions.

The native token CAKE of the exchange will be developed further so that it can take advantage of the proliferation of multichain. In particular, the group has said that they are investigating how the upgraded PancakeSwap V3 might extend the usefulness of locked CAKE to other blockchains.

Also Read: Bitcoin Is A Very Poor Alternative To Gold, According To Investor Ray Dalio