Decentralized crypto exchange PancakeSwap has expanded its functionality to include a portfolio manager feature in partnership with decentralized finance (DeFi) protocol Bril Finance. With this new feature, PancakeSwap users can deposit tokens into single-asset vaults via the exchange’s interface. The deposited tokens then enter a liquidity provision algorithm with automatic rebalancing, which is said to provide users with higher risk-adjusted returns compared to other methods.
Tokens that can be deposited include Tether (USDT), Bitcoin (BTC), BNB (BNB), and Ether (ETH). Tests of the protocol have reportedly produced an internal rate of return (IRR) of over 24%, a metric that measures the compound annual growth rate of a project.
During the first four weeks of the feature’s release, users will receive additional rewards in PancakeSwap’s governance token, CAKE. Initially, PancakeSwap will be the only platform providing access to Bril’s portfolio management system.
PancakeSwap’s CEO, Mochi, has expressed that the new integration is a step towards making the exchange a central hub for DeFi, providing users with a comprehensive platform for portfolio management while earning on their assets in a passive manner.
PancakeSwap is currently the second-largest fully decentralized crypto exchange by daily volume. The platform has continued to evolve, having previously launched a pancake-themed game called Pancake Protectors in May, and integrating Transak as a vendor for fiat to crypto payments in September.
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