PancakeSwap, a Binance-supported decentralized cryptocurrency exchange, excited investors with its latest announcement.
As reported by CoinDesk Global, PancakeSwap announced its fourth version in order to make cryptocurrency trading more efficient. This version, called V4, emphasizes that transactions on the platform will be faster, cheaper, and more user-friendly.
The team announced that the fourth version is set to 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 shortcomings of existing AMMs, including flexibility in pricing models for all assets, lack of execution functions at CEX level, non-permanent loss for liquidity providers, and expensive on-chain gas fees for users.
According to CoinGecko data, CAKE has shown a 14% increase in the last 24 hours, trading at $4.75 at the time of writing.
