TL;DR
- PancakeSwap is developing an affiliate model to expand its reach and diversify opportunities within DeFi.
- Developers will be able to fork PancakeSwap’s code to launch versions on other blockchains, thus expanding access to its functionality.
- CAKE token holders will directly benefit from the success of affiliated forks, receiving CAKE in the process. A portion will be burned to boost its value.
PancakeSwap, the rapidly growing decentralized exchange (DEX) platform, is preparing an affiliate model that promises to expand its reach and offer new opportunities within the DeFi ecosystem. This innovative approach will allow developers to fork PancakeSwap’s code and launch versions of the platform on other blockchains, making its functionality more widely accessible.
The affiliate model aims to leverage the user-friendly interface and multichain capabilities of the platform to provide a more accessible and versatile digital asset exchange experience. By enabling developers from various blockchains and layer 2 networks to implement PancakeSwap versions, innovation will be fostered, and the platform’s reach will be expanded, potentially benefiting both users and token holders.
🆕 Introducing the "Affiliate" Initiative
🍴DeFi protocols will receive recognition from the Kitchen to fork PancakeSwap on blockchains where we're not deployed on
🐰Our user-friendly interface & multichain capabilities aim to expand access & opportunities in DeFi
💬Join the… pic.twitter.com/mhZkRp4HUT
— PancakeSwap🥞Everyone's Favorite DEX (@PancakeSwap) February 23, 2024
A notable feature of the affiliate model is that CAKE token holders, the native token of the DEX, will directly benefit from the success of affiliated forks. These holders will receive native CAKE tokens from affiliates, which could provide an opportunity to diversify their holdings and participate in multiple platforms within the ecosystem. Additionally, a portion of the trading fee revenue generated on affiliated forks will be allocated to burning CAKE tokens, reducing its supply and potentially increasing its long-term value.
PancakeSwap to Convene its Community to Gather Feedback on the New Model
The affiliate initiative reflects the growing demand for decentralized exchange options and the need for more flexible and adaptable solutions within the DeFi space. By open-sourcing its code and providing technical support to affiliated developers, PancakeSwap aims to foster innovation and promote the adoption of DeFi across a variety of blockchains and networks.
The DEX is expected to initiate community discussions through its DAO to gather feedback and opinions on the affiliate model. This community-centric approach ensures that important decisions are made transparently and with the involvement of all stakeholders, reinforcing trust and legitimacy in the project.
