Over the past few months the cryptocurrency market has experienced tremendous volatility and most token prices are far from their previous all-time-highs. Regardless, the developers over at PancakeSwap have continued working at a blazing fast speed. The PancakeSwap team totally reworked the V2 exchange UI with a much fresher look, amongst other quality of life improvements such as token lists, a better analytics page that now shows more detailed information about PancakeSwap trading pairs and much more.
One of the more welcome features is the UI now shows APR and estimated trading fees, which means that even when you stake your LP tokens in a Farm you are also earning rewards from the trading fees, as well as the additional CAKE that’s rewarded to LP providers. The team over at PancakeSwap even gave all qualifying PancakeSwap Profile holders a pair of NFT’s as a reward.
Importantly, the team also implemented a new voting site along with a new interface, that is much better at supporting the volume of visitors that PancakeSwap has amassed, and more importantly it has functioned flawlessly.
The first new open vote was on June 29, with CAKE holders voting to reduce CAKE issuance by 10%, reducing daily issuance from 530,000 to 501,200. Through the governance process, users voted that CAKE emissions, which are currently 20 CAKE per block, would be reduced to 19 CAKE per block. This is great news for CAKE holders and is another step on the road to a deflationary CAKE ecosystem.
Although this is one of the mechanisms to win CAKE, the PancakeSwap team will continue to implement new incentives within the protocol, to further encourage decentralization of governance.
To whoever just won $1.1M USD in $CAKE, congratulations!!!! pic.twitter.com/fi5fppBvFd
— PancakeSwap 🥞 #BSC (@PancakeSwap) July 10, 2021
The PancakeSwap Lottery is now back up and running, much improved, and has seen some massive Lottery prize pots (over $1m) since launch. The system has a much better UI as well as much improved mechanisms for winning and burning CAKE. PancakeSwap released a Medium blog post detailing all the changes.
The team will soon be launching Community Farm Auctions, a quick and simple way for new projects to get volume and liquidity for their tokens, and a forum for futher discussion to help combine the collective knowledge of the community in an easier to search way.
To cap it off, the developers are even including a brand new interface to the protocol that’s more attractive and more intuitive, something sure to help introduce new users and further grow the PancakeSwap and Binance Smart Chain ecosystem.