PancakeSwap, a Binance-backed decentralized cryptocurrency exchange, excited its investors with the latest announcement.
As reported by CoinDesk Global, PancakeSwap announced its fourth version to make cryptocurrency trading more efficient. This version, called V4, emphasizes that transactions on the exchange will be faster, cheaper, and user-friendly.
The team announced that the fourth version will go live in the third quarter of 2024. PancakeSwap V4 will first be active on the BNB Chain and Ethereum.
Chef Mochi, the Head Developer of PancakeSwap, commented on V4, stating that it will be open-source and address many shortcomings:
PancakeSwap V4 code will be released under an open-source license. It addresses the shortcomings of existing AMMs, including flexibility in pricing models for all assets, the lack of execution functions at the level of CEX, non-permanent loss for liquidity providers, and costly on-chain gas fees for users.
According to CoinGecko data, CAKE, which has shown a 14% increase in the last 24 hours, is currently trading at $4.75.
