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PancakeSwap Reveals ‘Affiliate’ Initiative to Enable Forks Across Blockchains

The decentralized exchange (DEX) and decentralized finance (DeFi) protocol PancakeSwap has initiated a discussion proposal to introduce an “Affiliate” initiative to the DeFi community.

The initiative encompasses several objectives, including enhancing open-source scalability for the exchange, fostering collaboration across various blockchain networks, and ensuring the protocol remains abreast of developments within the crypto industry.

According to the announcement shared,

“The team is proposing the rollout of an ‘Affiliate’ initiative, where DeFi protocols can fork PancakeSwap onto blockchains where it is not currently deployed.”

The team will extend invitations and approve forks of PancakeSwap onto any chain where the exchange and platform are not yet operational, on a case-by-case basis.

The team aims to collaborate with at least three DEXs on three chains within this year. These partnerships would involve DEXs ranking in the top ¼ by trading volume on their respective chains over the long term.

The proposal is currently open for community feedback.

PancakeSwap is working towards finalizing it for official voting in the upcoming weeks, following “comprehensive feedback collection and analysis” by the team.

Scaling PancakeSwap with Protocol Growth

The “Affiliate” initiative encourages forks onto various blockchain networks, driven by the goal to exponentially scale the growth of the PancakeSwap protocol across new blockchains swiftly. The initiative aims to support robust DeFi teams by providing access to the unique and evolving PancakeSwap all-in-one DeFi product suite.

Protocols interested in forking the platform must align with and uphold the protocol’s core principles and tokenomics model. This ensures that value accrues to PancakeSwap and CAKE token holders, who stand to benefit from the success of affiliate forks, according to the team.

Entities adhering to the initiative’s principles will be officially recognized as PancakeSwap affiliates and will receive ongoing technical support.

Affiliate Advantages

The team highlighted that the initiative will grant PancakeSwap users access to a wider array of native tokens spanning different blockchains.

Moreover, veCAKE users will have the opportunity to receive affiliates’ native DEX tokens.

Additionally, a portion of the trading fee revenue will be allocated to burning CAKE tokens.

Furthermore, the announcement outlined three other key advantages of the proposed system:

1. Mass Adoption: Given the increasing number of blockchains and the growing interest in DeFi, the initiative aims to leverage the platform’s user-friendly interface and multichain capabilities to facilitate broader adoption of digital assets in everyday transactions.

2. Seamless Integration: Developers and protocols can utilize the platform’s foundation to effortlessly build DEXes, streamlining the process of innovation without starting from scratch.

3. Branding: Projects receiving official recognition from PancakeSwap will benefit from branding opportunities and ongoing support within the PancakeSwap ecosystem.

Chef Mochi, Head of PancakeSwap, remarked, “By open-sourcing the PancakeSwap DEX, developers and protocols can leverage its technical foundation to build their own DEX effortlessly, accelerating innovation without starting from scratch.”

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What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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