PancakeSwap is a well-known exchange operating on the Binance Smart Chain, attracting users as a reliable alternative to other prominent decentralized exchanges (DEX). Utilizing the BNB Smart Chain, it offers lower transaction costs compared to Ethereum.
Also read: BALD Faces Rug Pull Fears as Developer Withdraws Liquidity
According to CoinMarketCap data, PancakeSwap boasts the tenth position in terms of trading volumes and market share. Now, in one of the latest unveilings, the DEX has rolled out a revenue-sharing pool for CAKE stakers.
PancakeSwap unveils revenue sharing pool for CAKE stakers
According to the details of the announcement, the new revenue-sharing tool will benefit CAKE stakers. PancakeSwap has announced the incorporation of v3 trading volume starting from June 2023 into their revenue-sharing pool distribution.
Also read: Shiba Inu’s Market Cap Grows by Half a Billion Dollars as Price Surges
Apart from the APR earned through staking CAKE, stakers will now have the opportunity to directly earn real yield from the trading fee revenues generated by PancakeSwap’s v3 trading pairs. For fixed-term CAKE stakers, this means they will receive a recurring and weekly share of 5% from the trading fee revenues of all PancakeSwap v3 pairs that have fee tiers of 0.01% and 0.05%.
Details reveal that the DEX will distribute rewards on a weekly basis on Wednesday at 23:59 UTC. The first distribution is scheduled to begin on August 9, 2023.