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PancakeSwap Plans ‘Affiliates’ for Expansion; Cake Holders to Benefit
CAKE token holders will benefit from the success of affiliate forks as they will receive native DEX tokens from affiliates, if things go as planned.
Updated Mar 8, 2024, 10:04 p.m. Published Feb 23, 2024, 8:06 a.m.
- Affiliates will let developers from several other blockchains and layer-2 networks offer a version of PancakeSwap where the exchange is not officially offered.
- CAKE token holders will benefit from the success of affiliate forks as they will receive native DEX tokens from affiliates.
Decentralized exchange PancakeSwap is planning an affiliate model that will allow developers to fork its code and float a version of the platform on other blockchains, head developer Chef Mochi told CoinDesk in a Telegram chat.
“With the increasing number of blockchains and the growing interest in DeFi, the affiliate initiative aims to leverage PancakeSwap’s user-friendly interface and multichain capabilities to facilitate broader access and opportunity within the DeFi ecosystem,” Chef Mochi said.
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“By open-sourcing the PancakeSwap DEX, developers and protocols can leverage its technical foundation to build their own DEX effortlessly, accelerating innovation without starting from scratch,” they added.
Affiliates will let developers from several other blockchains and layer-2 networks offer a version of PancakeSwap where the exchange is not officially offered. They will receive incentives and technical support from PancakeSwap in return.
CAKE holders will benefit from the success of affiliate forks as they will receive native DEX tokens from affiliates, and a portion of the trading fee revenue will be allocated to burning – a term for permanently removing – CAKE and thus reducing supply.
PancakeSwap will float a discussion on its DAO later on Friday and a formal proposal in the coming weeks to collect community feedback and input on the idea.
As of Friday, PancakeSwap is available on BNB Chain, Ethereum, Aptos, Polygon zkEVM, Linea, zkSync Era, Base, Arbitrum One and opBNB. It has amassed $640 billion in lifetime trading volumes since its 2020 release and has over $1.5 billion in total liquidity locked.
Data shows that CAKE tokens are up 4.2% in the past 24 hours.
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