Are you a supporter of PancakeSwap? Well, then you’re in luck.
The leading multichain decentralized exchange (DEX), has launched a community reward initiative to recognize ongoing support for its zkSync deployment. The initiative will airdrop a total of 2,452,128 ZK tokens to eligible users starting July 5, 2024, at 10:30 am UTC and ending on August 5, 2024, at 10:30 am UTC.
This celebration follows PancakeSwap’s achievement of surpassing $3 billion in trading volume, $5 million in total value locked (TVL), and over 1.9 million total traders.
“The airdrop distribution is currently open to veCAKE Holders, Liquidity Providers, Active Traders, Traverse Campaign Participants, zkSync Prediction Users, and zkSync Gauge Voters who meet the eligibility requirements.”
Eligible users can claim their ZK tokens by connecting their wallet to the PancakeSwap platform homepage and following the pop-up notification instructions. Unclaimed tokens will be reallocated to the PancakeSwap ecosystem for future development and community initiatives.
But, who are these eligible users?
This airdrop aims to reward both past and future contributors to the zkSync PancakeSwap platform. This includes veCAKE holders, active users who have traded, provided liquidity, or participated in previous zkSync initiatives, and future users who contribute to the platform’s growth through liquidity provision and trading.
Introducing PancakeSwap v3
A week ago, PancakeSwap v3 went live on BNB Chain and Ethereum, adopting the concentrated liquidity concept introduced by Uniswap v3. With the expiration of the anti-forking license on April 1, other protocols can now freely utilize Uniswap v3’s code.
In a recent blog post, PancakeSwap highlighted the major enhancements in the v3 upgrade: significantly lower trading fees compared to v2, substantially increased fee earnings for liquidity providers, and improved capital efficiency.
V3 introduces four distinct trading fee tiers – 0.01%, 0.05%, 0.25%, and 1% – as opposed to v2’s uniform 0.25% fee. This adjustment allows traders to benefit from reduced fees on the most popular and liquid trading pairs.
Additionally, PancakeSwap launched new v3 farms, beginning with widely traded pairs such as $ETH, $CAKE, $USDC, and $USDT.
