PancakeSwap Offers to Pay Off $8M Worth of Interface Fees for Uniswap Users

Twitter icon  •  Published 1 month ago  •  Hassan Maishera

The Pancakeswap team announced via a blog post on Thursday that it will pay up to $8 million to Uniswap users who have paid high interface fees on its competitor’s platform.

The Pancakeswap team announced via a blog post on Thursday that it will pay up to $8 million to Uniswap users who have paid high interface fees on its competitor’s platform. This campaign comes after Uniswap hiked its interface fees from .15% to .25% in April. Eligible traders must match their Uniswap v3 holdings on PancakeSwap v3, the team added. To qualify for the refund, crypto traders must have held at least $5,000 in wrapped bitcoin (WBTC) and/or wrapped ether (WETH) pairs traded on Uniswap's platform between Jan. 1 and March 31. Uniswap users can visit PancakeSwap’s Dune dashboard to check their campaign eligibility, the team added. 

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by 1% today and is currently trading at $2.591.

Uniswap is a decentralized exchange protocol built on Ethereum. To be more precise, it is an automated liquidity protocol. There is no order book or any centralized party required to make trades. UNI, the native token of Uniswap, is currently trading at $7.269, down by 1% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.