PancakeSwap V3 upgrade set to go live on BNB Chain in first week of April

Decentralized exchange PancakeSwap is set to upgrade to its third iteration in the first week of April. 

PancakeSwap V3 will offer new features to the multi-chain DEX that says it has more than $438 billion in total trading volume and over $2.5 billion in total liquidity locked. These include improved liquidity provisioning, competitive trading fees and trading incentives along with a touch-up to its yield farming experience, it said an announcement 

“The new features we’re introducing will offer our users an even better experience and help make DeFi accessible to more people than ever before,” said Mochi, head chef of PancakeSwap, in the release. 

The new version will be available on BNB Smart Chain.

While PancakeSwap is currently the dominant decentralized exchange on the chain, Uniswap V3 is set to deploy on BNB after its DAO voted in favor of the move. The governance proposal said that Uniswap may target as much as half of PancakeSwap’s market share. 

PancakeSwap’s previous version was deployed on Ethereum and Aptos. In October, the Decentralized exchange passed a governance proposal for deploying it on the Layer 1 blockchain founded by former Meta employees.