PancakeSwap makes the strategic move of going live on this network

AMBCrypto
AMBCrypto

30 Jun 2023 1:30 PM

PancakeSwap V3 was introduced on Polygon zkEVM, enabling token swapping and liquidity provisioning functionalities on the L2 solution....

  • PancakeSwap's monthly DEX volume fell 54% in June.
  • PancakeSwap launched its third iteration, V3, on the Polygon zkEVM chain to expand and generate more revenue.
  • The introduction of concentrated liquidity is a key feature of PancakeSwap V3.
  • Despite being the second-largest DEX, PancakeSwap experienced a decline in volumes and total value locked in June.
  • The addition of PancakeSwap to Polygon zkEVM could help boost liquidity for the latter, which has been lagging behind its competitors.

The sentiment of the article is mixed. While there is excitement about PancakeSwap's expansion and the launch of V3, there is also concern about the decline in volumes and total value locked.

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You May Ask

How much did PancakeSwap's monthly DEX volume fall in June?What is the purpose of PancakeSwap's V3 launch on the Polygon zkEVM chain?What is concentrated liquidity and why is it important in the DeFi world?What factors contributed to the decline in PancakeSwap's volumes and total value locked in June?How does the addition of PancakeSwap to Polygon zkEVM impact the liquidity of the latter compared to its competitors?

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