- Users of Uniswap who have paid exorbitant interface fees on the platform of its competitor, PancakeSwap, will receive up to $8 million in compensation.
- On PancakeSwap v3, eligible traders must match their Uniswap v3 holdings.
- The refund initiative was launched in response to Uniswap’s April increase in interface fees from.15% to.25%.
The decentralized exchange PancakeSwap intends to reimburse traders for up to $8 million in fees they paid on Uniswap, a rival.
A complete reimbursement of their Uniswap interface costs will be given to cryptocurrency traders who match their Uniswap v3 volume 1:1 on PancakeSwap v3 between May 16 and August 15.
The refund initiative was launched soon after Uniswap Labs increased its interface fee for the majority of swaps in April.
According to a statement released by PancakeSwap Head Chef Mochi on Thursday, many traders are looking for alternatives in the dynamic realm of decentralized exchanges due to recent changes in the pricing structures of existing protocols.
Because this campaign promises lower fees, better rates, and refunds for the excess fees paid on other platforms, we, as a leading multichain DEX, are here to provide a direct solution.
The wallet interface and online application of Uniswap need traders to pay fees in order to carry out specific token exchanges.
Crypto traders need to have held wrapped bitcoin (WBTC) and/or wrapped ether (WETH) pairs traded on Uniswap’s Ethereum platform between January 1 and March 31 in order to be eligible for the refund.
Uniswap users can verify their eligibility for a campaign by going to PancakeSwap’s Dune dashboard. To be eligible for the refund, traders must complete an application.
With their interface-fee campaign, PancakeSwap v3 is attempting to overtake its rival in the market. According to CoinGecko data, the DEX is presently the sixth largest by daily trading volumes, trailing the volume of Ethereum-based Uniswap V3 by almost $700 million.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
