Binance-backed decentralized cryptocurrency exchange PancakeSwap (CAKE) excited its investors with the latest announcement.
According to the news reported by CoinDesk Global, PancakeSwap announced its fourth version in order to make cryptocurrency trading more efficient. With this version called V4, changes made specifically for the stock market transactions more fast, more cheap And more user friendly It was emphasized that it would happen.
Made by the team in the statement of the fourth version 2024 of the year third in the quarter It was stated that it would be implemented. PancakeSwap V4 first BNB Chain and will be activated on Ethereum.
Making a statement on the subject, PancakeSwap Chief Developer Chef Mochistated that V4 will be open source and will close many deficiencies:
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, lack of CEX-level execution functions, impermanent churn for liquidity providers, and expensive on-chain gas fees for users.
According to CoinGecko data, CAKE, which has increased by 14% in the last 24 hours, is traded at $ 4.75 at the time of writing.