PancakeSwap exchange team has announced the launch of the fourth version of the protocol

What’s new? The developers of decentralized crypto exchange (DEX) PancakeSwap have announced the release of the fourth version of the protocol, which will offer new features designed to make trading cheaper, faster, and more efficient. V4 will become available on the Ethereum and BNB Chain networks in Q3 of this year, it will offer improved pricing for tradable coins, reduced gas consumption, and lower deployment costs for new projects.

CoinDesk’s material

What else is known? The new version includes features such as hooks, pool customization, and fаlash, and singleton accounting.

Hooks are contracts deployed outside the exchange that allow developers to add customizable add-ons. For example, the types of trade orders or the mechanism for collecting fees can be changed (hook creators can keep fees for themselves or distribute them to others).

Custom pools will offer users several types of liquidity pools, their implementation is designed to improve the pricing of assets available on the platform. The feature is capable of preventing sudden price fluctuations during periods of market stress, including increased demand, or a sudden sale of a large volume of an asset.

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Flash accounting allows multiple transactions to be recorded together at the same time, which reduces fees. The exchange team notes that during periods of market volatility, fees can increase dramatically, preventing transactions from taking place. The feature aims to address this issue.

Singleton combines all pools into a single contract to reduce the cost of deployment by 99%. Fees are also reduced for swaps as there is no need to transfer tokens between separate contracts.

At the time of writing the news, PancakeSwap of the third version ranks third in the DEX rating in terms of daily trading volume with a figure of more than $991 million.

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On January 4, the maximum supply of the native token was reduced from 740 to 450 million CAKE by the decision of the exchange’s community. The platform also regularly burns coins received as transaction fees. On March 11, over 9,1 million coins worth $37 million were destroyed.

CAKE ranks 109th in the cryptocurrency ranking with a capitalization of $1б15 billion and is trading at $4,72, having added 14% overnight. The weekly growth amounted to 47,3%.