PancakeSwap, a leading decentralized finance (DeFi) firm, started a project to expand across blockchains. This strategic move is made due to the growing need for DeFi protocols and blockchain technology’s rapid adoption.
DeFi Leader PancakeSwap Introduces Affiliation Program to Tackle Scaling Issues
Recently, PancakeSwap has grown significantly. It has a platform on nine blockchains and is a leading DEX in trading volume on many of them. Growth has brought problems, especially with the exponential rise in new blockchains.
PancakeSwap is struggling to scale due to the rise of general-purpose and purpose-specific blockchains. PancakeSwap must invest heavily in development, marketing, and ecosystem work for each new blockchain to remain the top choice for projects using it.
PancakeSwap’s Affiliation Program helps businesses overcome these issues and stay ahead in the fast-changing DeFi world. Under certain conditions, this project aims to invite and approve PancakeSwap forks on chains where the platform is not yet present.
These requirements include following PancakeSwap’s core platform and tokenomics model, allowing native tokens to trade and be used on their blockchains, and providing value to PancakeSwap and its CAKE holders.
The Affiliation Program requires affiliated DEXs, known as “XXX DEX,” to follow PancakeSwap’s rules. LP fees, token incentives for liquidity providers (LPs), and DEX token recovery are covered. The forking team and PancakeSwap will decide the category distribution percentages.
Linked DEXs will join PancakeSwap’s affiliate/extended network to support the company’s values and practices. They can also use PancakeSwap products and get support from the Kitchen.
PancakeSwap Aims to Partner with Top DEXs on Multiple Chains by 2024
PancakeSwap wants to grow to new blockchains through the Affiliation Program. It does this by supporting strong DeFi teams and constantly improving its product suite. By 2024, The Kitchen wants to work with three DEXs on three chains. Trading volume should place each DEX in the top 25% of its chain over time.
The Affiliation Program shows that PancakeSwap is serious about leading decentralized finance and adapting to blockchain. PancakeSwap wants to collaborate with strong DeFi teams and support more blockchains to become the top decentralized exchange in the crypto ecosystem.
PancakeSwap’s Affiliation Program is a smart move to help it navigate the complex DeFi space, seize new opportunities, and solidify its position as a leader in using blockchain technology to change finance.
