<\/p>\n
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- PancakeSwap users can now access additional rewards when using the BNB Chain.<\/em><\/li>\n
- The development could change the case of the project\u2019s TVL which decreased in the last 24 hours.<\/em><\/li>\n<\/ul>\n
Decentralized crypto exchange <\/span>PancakeSwap [CAKE]<\/span><\/a> announced a new partnership that would enable its users to access single-asset deposit vaults and optimize their assets for high-yield risk-adjusted returns.\u00a0<\/span><\/p>\n
\nRealistic or not, here\u2019s <\/span>CAKE\u2019s market cap in BNB terms<\/span><\/a><\/p>\n
\nBy the CAKE team, for users<\/b><\/h4>\n
According to the <\/span>disclosure<\/span><\/a> provided by the project, the updates would only be available to its users who operate on the <\/span>BNB Chain<\/span><\/a>. BNB Chain is fully known as the \u201cBuild N Build\u201d Chain. As the second-largest Layer-1 ecosystem, the chain facilitates cross-chain transactions and interaction.<\/span><\/p>\n
However, the development would have been impossible without the input of Bril Finance. PancakeSwap describes B<\/span>ril Finance, <\/span>a decentralized finance (DeFi) platform transforming highly sophisticated portfolio management strategies into user-friendly services.<\/span><\/p>\n
Furthermore, the revelation mentioned how users can gain from activity using the several liquidity pools on PancakeSwap. A liquidity pool acts like a reserve. Here, users can pool their assets into DEX smart contracts to provide liquidity for traders involved in swapping tokens.\u00a0<\/span><\/p>\n
In an exclusive press release sent to AMBCrypto, PancakeSwap noted that users can earn additional rewards with the update. The project noted that,<\/span><\/p>\n
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\u201cUsers can earn additional rewards in CAKE tokens for up to four weeks following the launch. Namely, liquidity pools such as USDT\/CAKE, USDT\/BNB, and BTCB\/USDT will be granted 1,000 CAKE weekly, and BNB\/CAKE, BTCB\/CAKE, and ETH\/CAKE pairs will be receiving 500 CAKE per week.\u201d<\/span><\/p>\n<\/blockquote>\n
When activity increases on these liquidity pools, the DEX volume on the BNB Chain may surge to high levels like it did in May. Also, PancakeSwap which <\/span>surpassed <\/span><\/a>BNB Chain\u2019s revenue earlier could replicate it one more time.<\/span><\/p>\n
To help its falling TVL?<\/b><\/h4>\n
While revenue may increase for PancakeSwap, topping the DEX volume charts may be difficult. This is because <\/span>Uniswap [UNI]<\/span><\/a> has a stronghold on the metric. It could also be largely difficult to surpass, as shown by the Dune Analytics <\/span>chart<\/span><\/a> below.<\/span><\/p>\n
![\"PancakeSwap](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-30-at-12.49.39.png\")
<\/a><\/p>\nSource: Dune Analytics<\/p>\n<\/div>\n
However, there is one area where the development can help PancakeSwap recover. That is in terms of the Total Value Locked (TVL). The TVL is a DeFi metric used to measure the total value of assets locked or staked in a protocol.<\/span><\/p>\n
PancakSwap\u2019s head chef, popularly known as Chef Mochi, also shared the same view. According to Mochi, the integration could bring more opportunities to the DeFi sector. He told AMBCrypto that:<\/span><\/p>\n
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\u201cBy partnering with Bril Finance, we are excited to bring additional DeFi opportunities to our users. We aim to become a hub for all of DeFi and integrations such as this, allowing us to become a one-stop shop for portfolio management.\u201d<\/span><\/p>\n<\/blockquote>\n
At press time, <\/span>PancakeSwap\u2019s TVL<\/span><\/a> was $1.39 billion, equivalent to 61 million BNB. This value was a 23% decrease in the last 24 hours, meaning trust in the protocol has reduced.<\/span><\/p>\n
- The development could change the case of the project\u2019s TVL which decreased in the last 24 hours.<\/em><\/li>\n<\/ul>\n
![\"PancakeSwap](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-30-at-13.04.16.png\")