PancakeSwap, a leading decentralized crypto exchange, has announced the launch of v3 liquidity pool. As per PancakeSwap, it is launching v3 liquidity pool on the blockchain of Solana, offering capital-efficient liquidity provisioning and trading. The platform disclosed this development’s details in a recent press release.
PancakeSwap Introduces V3 Liquidity Pool Launch on Solana to Benefit Liquidity Providers and Traders
By launching v3 liquidity pool on Solana, PancakeSwap attempts to provide cost-effective trading as well as liquidity provision to the rapidly growing crypto ecosystem. With this integration, liquidity providers can take part in the Concentrated Liquidity Automated Market Maker (CLAMM) pools in the case of Solana-based tokens. In turn, the trailers can leverage ultra-low swap charges, beginning at only 0.01%. Hence, this places PancakeSwap among the most cost-efficient DEXs on Solana.
PancakeSwap selected Solana based on its high throughput, robust DeFi ecosystem, and low transfer charges. With this development, PancakeSwap broadens the multi-chain strategy thereof while providing a user-friendly and familiar trading experience to Solana consumers. In addition to this, the release also serves as a considerable response to the demand to integrate PancakeSwap with the high-speed network of Solana.
The prominent benefits targeting liquidity providers include support for trading pairs incorporating key Solana-based tokens. These token pairs include $ROAM-$USDC, $EURC-$USDC, $PYUSD-$USDT, and $BONK-$SOL, and so on. Apart from that, liquidity providers can select particular price ranges, improving fee earnings and capital efficiency.
Offering Huge Trading Revenue Share to LPs While Enabling Minimal Slippage
Along with that, with more than fifteen modifiable fee options ranging between 0.01% and 4%, liquidity providers are allowed to match market conditions and risk profiles. Additionally, liquidity providers (LPs) can get a huge share of overall trading revenue in line with liquidity usage. Moreover, each of the LP positions serve as a tokenized NFT, offering flexibility in transferring and tracking assets.
According to PancakeSwap, the launch also benefits traders in diverse ways. Particularly, it offers low-cost swaps while posing minimal slippage. At the same time, it also provides seamless integration via the UI of PancakeSwap, while routing traders through outside Solana protocols. Furthermore, the traders will face no extra platform fees, sustaining a competitive edge within the DeFi space in the Solana ecosystem.
