2024-03-16
PancakeSwap has announced a new version of its code that is scheduled to be released on BNB and Ethereum in Q3.
Decentralized exchange PancakeSwap will be releasing the fourth version of its codebase and whitepaper on March 15, as announced by its team.
The new version introduces custom liquidity pools, flash accounting, and a development fund, aiming to reduce gas costs and impermanent loss for users.
PancakeSwap is the third largest decentralized cryptocurrency exchange measured by the total value of cryptocurrencies locked in its contracts. It currently holds over $2.3 billion of assets spread across nine different networks, according to blockchain analytics platform DefiLlama.
According to the announcement, the integration of "hooks" allows for customizable add-ons by independent developers.
They claim this will reduce the cost of “multi-hop” trades that require more than one swap to complete. In addition, the v4 protocol implements “flash accounting,” which “optimizes the accounting process by computing net balances for a batch of transactions and settling them collectively,” purportedly further reducing gas costs.
PancakeSwap's decision to release its new code under an open-source license, along with the introduction of the affiliate program and developer fund, demonstrates a commitment to community involvement and innovation. In addition to this development $500,000 developer program is available and aimed at fostering innovation and community involvement. By funding independent developers to create hooks for the v4 protocol, PancakeSwap is not only supporting the growth of its ecosystem but also incentivizing the development of new features and functionalities.
This program is likely to attract talented developers and further solidify PancakeSwap's position in the decentralized exchange space.
