Pancakeswap has just unveiled ‘Pancakeswap Infinity’, a large rebrand and upgrade to his DEX while cake price records a slight increase of 3.5%.
According to an official announcement, Pancakeswap (cake) pancakes with pancakes V4 has renamed pancakes. Initially launched on the BNB chain, Pancake Wap Infinity is planning to expand to other block chains in the future.
The rebrand rolls out with a large upgrade, which introduces various technical improvements that are intended to improve the trading experience and liquidity supply.
Firstly, the update contains support for several types of liquidity pool, so that liquidity providers can choose between concentrated liquidity and simpler models based on their strategies. Pancakeswap is currently supporting Infinity Clamm (concentrated liquidity AMM) and LBAMM (Liquuidity Book AMM).
Source: Pancakeswap’s blog
In addition, Pancakeswap Infinity liquidity providers offers the possibility to fully control their reimbursement structure, in contrast to previous versions with fixed costs. Providers can now choose between static costs that remain constant, or dynamic costs, which can be adjusted on the basis of market conditions and liquidity conditions.
Source: Pancakeswap’s blog
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Other improvements include significantly reduced gas costs, whereby the pool creeping costs reduced to 99% and swaps with indigenous tokens such as Ethereum (ETH) and Binance Coin (BNB) that now require about 50% less gas compared to ERC-20 tokens.
The platform also introduces “hooks”, external contracts with which developers can implement adapted functions, such as dynamic costs and trade discounts.
In the meantime, the indigenous token cake from Pancakeswap is traded at $ 2.12, an increase of 3.15% in the last 24 hours. It is currently being traded above both 20-day EMA and 50-day SMA. Momentum is neutral with a light bullish bias, with RSI at 51.36.
Source: TradingView
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