PancakeSwap unveils an ‘Affiliate’ program to support forking across different blockchains.

The PancakeSwap team is extending an invitation to fork versions of the exchange for deployment on any chain that has not already been included, through their affiliate program.

Sead Fadilpašić Last updated: February 26, 2024 10:59 EST | 2 min read {:.image-caption} Decentralized exchange (DEX) and decentralized finance (DeFi) protocol PancakeSwap has launched a discussion proposal to introduce an “Affiliate” initiative to the DeFi community.

The initiative has several goals. These include fostering open-source scalability for the exchange, promoting collaboration across multiple blockchain networks, and helping the protocol stay up-to-date with the crypto industry’s developments.

Per the announcement shared with Blocking.net,

“The team is proposing to roll out an “Affiliate” initiative whereby DeFi protocols can fork PancakeSwap on blockchains where it is not currently deployed.”

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The team will invite and approve – on a case-by-case basis – forks of PancakeSwap onto any chain that doesn’t already have the exchange and platform deployed on it.

The team aims to partner with at least three DEXs on three chains this year. Each of these would be in the top ¼ by trading volume on their respective chains long-term, it said.

The proposal is now open for community feedback.

PancakeSwap is working to finalize it for official voting in the coming weeks. This event will follow “comprehensive feedback collection and analysis” by the team.

Scaling PancakeSwap with Protocol Growth

The “Affiliate” initiative encourages forks onto numerous blockchain networks.

The primary motivation for this is that the team wants to “scale the growth of the PancakeSwap protocol exponentially to new blockchains faster, supporting strong DeFi teams that can rely on the unique and improving PancakeSwap all-in-one DeFi product suite.”

Protocols aiming to fork the platform must align with and adhere to the protocol’s core principles and tokenomics model. This “ensures value accrual to PancakeSwap and CAKE token holders, who benefit from the success of affiliate forks,” the team said.

Those who adhere to the initiative’s principles will receive official recognition as PancakeSwap affiliates. Furthermore, they will have ongoing technical support.

Affiliate Advantages

The team noted that the initiative will give PancakeSwap users access to a broader range of native tokens across different blockchains.

Also, veCAKE users will receive affiliates’ native DEX tokens.

The team will also allocate a portion of the trading fee revenue to burning CAKE.

Moreover, the announcement noted three other key advantages of the proposed system:

• Mass adoption: The number of blockchains and the interest in DeFi are both growing; the initiative aims to utilize the platform’s user-friendly interface and multichain capabilities to facilitate broader adoption of digital assets in daily transactions.
• Seamless integration: Developers and protocols can use the platform’s backbone to build DEXes.
• Branding: Receiving official recognition from PancakeSwap will provide projects with branding opportunities and ongoing support as part of the PancakeSwap ecosystem.

Chef Mochi, Head of PancakeSwap, commented that “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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Q&A: What You Need to Know

Q: What is PancakeSwap’s “Affiliate” initiative?

A: PancakeSwap’s “Affiliate” initiative aims to encourage the forking of the protocol onto various blockchain networks. This will enable a broader reach and adoption of the PancakeSwap protocol, while also supporting strong DeFi teams that can benefit from the platform’s all-in-one DeFi product suite.

Q: How will the initiative benefit users?

A: The initiative will give PancakeSwap users access to a wider range of native tokens across different blockchains. Additionally, veCAKE users will receive affiliates’ native DEX tokens. Moreover, a portion of the trading fee revenue will be allocated to burning CAKE tokens.

Q: What are the advantages of the proposed system?

A: The proposed system offers several advantages, including mass adoption of digital assets in daily transactions, seamless integration for developers and protocols to build DEXes, and branding opportunities for projects through official recognition from PancakeSwap.

Q: How can protocols fork the PancakeSwap platform?

A: Protocols aiming to fork the PancakeSwap platform must align with and adhere to the protocol’s core principles and tokenomics model. This ensures value accrual to PancakeSwap and CAKE token holders.

Future Outlook: Exponential Growth and Technological Innovation

The “Affiliate” initiative introduced by PancakeSwap reflects a strategic move towards exponential growth and technological innovation in the DeFi space. By expanding the protocol to new blockchains, PancakeSwap aims to capitalize on the increasing interest in DeFi and facilitate the adoption of digital assets in everyday transactions.

With the potential partnerships with three DEXs on three chains, PancakeSwap is positioning itself as a leading player in the decentralized finance landscape. The integration of multiple blockchain networks not only strengthens the protocol’s scalability but also opens up new avenues for collaboration and development.

As the DeFi industry continues to evolve, PancakeSwap’s user-friendly interface and all-in-one DeFi product suite provide a solid foundation for building innovative DEXes. By open-sourcing their DEX, PancakeSwap empowers developers and protocols to leverage their technology and accelerate innovation without starting from scratch.

In terms of investment opportunities, the growth potential of PancakeSwap’s “Affiliate” initiative aligns with the increasing demand for decentralized finance solutions. Investing in projects that leverage the PancakeSwap ecosystem and adhere to its core principles could prove to be a lucrative strategy in the rapidly expanding DeFi market.

References:

• PancakeSwap Official Website
• PancakeSwap Twitter
• Decentralized Exchanges (DEX) Explained
• What Is DeFi (Decentralized Finance)?
• Blockchain Scalability: Exploring Solutions

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