CAKE Holders To Feast On New Tokens: PancakeSwap Expands With 'Affiliates' Program
Portfolio Pulse from Murtuza Merchant
PancakeSwap launched an 'Affiliates' program to expand its decentralized exchange across new blockchains, benefiting CAKE token holders with native DEX tokens from these collaborations. The program supports third-party DeFi teams in deploying PancakeSwap's contracts on new chains, aiming to enhance revenue streams and fund future development. Affiliated DEXs will share a portion of their supply with PancakeSwap, specifically for veCAKE stakers. The initiative aims to establish at least three DEX partnerships in 2024, with each within the top quarter of trading volume on their respective chains. Following the announcement, the CAKE token experienced a 10% increase in market value.
February 23, 2024 | 8:54 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
PancakeSwap's 'Affiliates' program aims to expand its reach and enhance revenue, directly benefiting CAKE token holders. The program's announcement led to a 10% increase in CAKE's market value.
The positive market sentiment and 10% increase in CAKE's value directly result from the announcement of the 'Affiliates' program, which is expected to enhance PancakeSwap's revenue streams and expand its presence across new blockchains. This strategic move is seen as beneficial for CAKE token holders, especially with the allocation of native DEX tokens from new collaborations and the focus on establishing partnerships with top DEXs.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100