November 15, 2023 at 17:20 GMTModified date: November 15, 2023 at 17:20 GMT
November 15, 2023 at 17:20 GMT

PancakeSwap unveils a new gaming marketplace

PancakeSwap has taken a significant leap into the domain of blockchain gaming by introducing a new gaming marketplace.

PancakeSwap unveils a new gaming marketplace

Leading decentralised exchange (DEX) PancakeSwap has taken a significant leap into the domain of blockchain gaming by introducing a new gaming marketplace. This comes after the recent launch of its initial game ‘Pancake Protectors’ in the month of May.

The new venture invites GameFi developers to build, launch and update games with Web3 elements, such as cryptocurrency and non-fungible tokens (NFTs).

The launch will see PancakeSwap publish two games on the platform: its flagship game ‘Pancake Protectors’ and Binary X’s ‘Pancake Mayor’. While the former was developed in collaboration with the GameFi platform Mobox, the latter was created in partnership with the GameFi protocol Binary X.

Pancake Protectors has already attracted over 25,000 daily active users and fuses tower-defence with the edge of player-versus-player (PvP) battles, all while catering to the GameFi community, CAKE collectors, Pancake Squad and Bunnies holders.

Most of the games featured on the new platform are integrated with $CAKE token and NFTs, expanding the PancakeSwap ecosystem and giving users more ways to enjoy and benefit from the gameplay. The marketplace also acts as a developers’ hub where they can showcase their gaming masterpieces to an audience in the most dynamic DEX arena.

In its official announcement, PancakeSwap said that it anticipates 1.5 million potential monthly players providing the games developed on the platform the spotlight and audience that they deserve.

The platform also supports nine blockchains: Ethereum, Polygon zkEVM, Base, BNB Chain, OpenBNB, zkSync Era, Arbitrum One, Linea and Aptos.

Talking about the release, PancakeSwap’s ‘Head Chef’/CEO, Mochi said: “PancakeSwap’s gaming marketplace marks an exciting new chapter in our continued commitment to innovation and enhancing the user experience. We invite our community, gamers and developers to join us in creating a gaming system that is vibrant, innovative and, above all, incredibly fun.”

PancakeSwap is the largest DEX on the BNB Chain and one of the busiest exchanges in the crypto market. It allows users to trade tokens while also offering opportunities to profit from liquidity pools and staking.

The exchange makes use of the AMM exchange model which relies on liquidity pools to facilitate trades. In depositing funds to a liquidity pool, users or liquidity providers are compensated with the native token called $CAKE. PancakeSwap’s governance system allows $CAKE holders to propose and vote on modifications to the platform.

Recently, PancakeSwap added a new feature called portfolio manager functionality, in partnership with decentralised finance (DeFi) protocol Bril Finance. It seeks to provide users with higher risk-adjusted returns by allowing them to deposit tokens into single-asset vaults via the exchange’s user interface.

Once the tokens are deposited, they go into a liquidity provision algorithm with automatic rebalancing. According to its CEO, this would in help the exchange in rising as a major hub for DeFi: “We aim to become a hub for all of DeFi and integrations such as this, allowing us to become a one-stop shop for portfolio management. Bril’s automated technology and its integration with PancakeSwap will allow PancakeSwap users to enjoy the core features and functionalities they are already accustomed to and seamlessly earn on their assets in a hands-off manner.”