PancakeSwap V3 Upgrade Looks to Target Multichain Growth and Tackle CAKE Inflation

After launching PancakeSwap V3 at the beginning of April, the decentralized exchange has unveiled its latest roadmap. This includes plans for new features on the platform and measures to control CAKE inflation.

Following a tradition that goes back to its inception, PancakeSwap V3 copy-pasted most of its code from UniSwap’s V3 upgrade. But whereas PancakeSwap was initially little more than a Uniswap clone transposed onto BNB Chain, since its launch, it has pursued a multichain strategy.

Now deployed on Aptos and Ethereum too, PancakeSwap is growing its presence across the DeFi ecosystem.

In an AMA this week, PancakeSwap’s Product Manager noted that the V3 upgrade is central to PancakeSwap’s ambition to expand beyond its roots. “We are looking to further expand to some other strong and promising blockchains to capture […] many great opportunities,” he commented.

During the AMA session, Head Chef Mochi claimed that PancakeSwap is currently the largest Decentralized Exchange (DEX) on Aptos and BNB Chain. Moreover, ten days into expanding PancakeSwap V3, the platform had broken into the top 10 DEXs by volume on Ethereum.

New Features Under Development for PancakeSwap V3

Much of the current product development is focused on bringing functionality the community has come to expect on BNB chain to the newly conquered territories.

This includes expanding exchange’s native token CAKE to take advantage of recent multichain growth. Specifically, the team said they are exploring how the PancakeSwap V3 upgrade can bring locked CAKE utility to other blockchains.