PancakeSwap Partners with Bril Finance to Launch Portfolio Management Feature
Summary:
PancakeSwap, a decentralized crypto exchange, has introduced a portfolio management function in collaboration with Bril Finance. This feature lets users deposit tokens into individual asset vaults, triggering a liquidity provision algorithm. This addition will allow users to achieve better risk-adjusted returns, with the protocol already showing a 24% internal rate of return in tests. Initially, PancakeSwap will be the sole interface to offer the new portfolio management system.
In an announcement made on October 30th, PancakeSwap, a decentralized cryptocurrency exchange, has incorporated a portfolio management feature. This addition is thanks to a collaboration with the decentralized finance (DeFi) protocol, Bril Finance. The updated function permits users of PancakeSwap to deposit tokens into individual asset vaults via the exchange's interface. This deposit triggers an algorithm that provides liquidity, complete with automatic balancing. The brains behind PancakeSwap and Bril contend that this setup will afford users the chance to achieve better risk-adjusted returns in comparison to alternative methods. The tokens that users may deposit include Bitcoin BEP 2 (BTC), Tether (USDT), BNB (BNB), and Ether (ETH). The joint teams insist that the protocol has already shown more than a 24% internal rate of return (IRR) — a metric used to measure a project's yearly growth rate — through testing. When the feature debuts, additional reward tokens tied to PancakeSwap's governing body, CAKE, will also be gifted to users. At inception, only PancakeSwap will offer users a chance to experience Bril's portfolio management platform. PancakeSwap's CEO, Mochi, or "Head Chef," stated that the new addition will contribute to making the exchange a central hub of DeFi. PancakeSwap, the second-largest completely decentralized cryptocurrency exchange by daily volume, is known for launching a pancake-themed game called "Pancake Protectors" in May. In September, it welcomed Transak as a vendor to facilitate conversion from fiat currency to cryptocurrency.
Published At
10/30/2023 3:00:29 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.