Pancake Swap plans “affiliate” to expand ─ Benefits for CAKE holders | CoinDesk JAPAN

• Affiliates allow developers of other blockchains and layer 2 networks to offer versions of Pancake Swap that are not officially available on exchanges.
• CAKE holders will benefit from a successful affiliate fork as they will receive native DEX tokens from the affiliate.

Decentralized exchange PancakeSwap is planning an affiliate model that would allow developers to fork the code and propose one version of PancakeSwap to other blockchains. Head of development Chef Mochi told CoinDesk via Telegram.

Mochi said, “As the number of blockchains increases and interest in decentralized finance (DeFi) increases, our affiliate efforts leverage PancakeSwap’s user-friendly interface and multi-chain capabilities to support the DeFi Eco “It aims to promote broader access and opportunity within the system.”

“By open sourcing PancakeSwap's DEX, developers and protocols can easily leverage its technology foundation to build their own DEX, accelerating innovation without having to start from scratch.” .

Affiliates will allow developers of other blockchains and layer 2 networks to offer versions of Pancake Swap that are not officially available on exchanges. In return, developers receive incentives and technical support from Pancake Swap.

Benefits for CAKE holders too

Pancake Swap (CAKE) holders will receive native DEX tokens from affiliates and thus benefit from the success of affiliate forks. Additionally, a portion of transaction fee revenue will be allocated to CAKE burn, reducing supply.

PancakeSwap proposed a discussion on the DAO on the 23rd and plans to release a formal proposal in the coming weeks to gather community feedback and input on the idea.

As of the 23rd, Pancake Swap supports BNB Chain, Ethereum, Aptos, Polygon zkEVM, Linea, zkSync Era, Base, and Arbitrum One. (Arbitrum One), available on opBNB. Since its release in 2020, the cumulative trading volume has reached $640 billion (approximately 96 trillion yen, at an exchange rate of 150 yen to the dollar), and the total locked liquidity is more than $1.5 billion (approximately 225 billion yen).

CAKE has risen 4.2% in the past 24 hours.

｜Translation and editing: Rinan Hayashi
｜Image: Mae Mu/Unsplash
｜Original text: PancakeSwap Plans 'Affiliates' for Expansion; Cake Holders to Benefit