Decentralized exchange PancakeSwap has introduced the Position Manager feature. It allows you to place assets into a vault and then automatically send them to liquidity pools.
📢 Introducing Position Manager on PancakeSwap v3! 🎉:https://t.co/qprhv8wzP2
✅ Automated LP without ever going out of range
✅ Auto-compounding of LP rewards without gas fee worries
✅ Seamless integration with top protocols and strategies🥞New to #DeFi or a pro, it’s… pic.twitter.com/NSx0BMFDYF
— PancakeSwap🥞Everyone’s Favorite DEX (@PancakeSwap) October 30, 2023
The project team said that the new feature was made available through collaboration with the decentralized finance (DeFi) protocol Bril Finance.
According to statement blog, Position Manager makes capital use more efficient. It automates the process of providing liquidity and saves resources. According to the developers, the system will allow users to earn higher profits compared to other ways of earning money.
At the time of writing, Position Manager supports four assets: stablecoin USDT, Bitcoin on the BEP-20 network, BNB and Ethereum. During the first four weeks after the feature launches, users will receive additional rewards in CAKE tokens.
Previously, the decentralized exchange team added support for networks such as zkSync Era, Arbitrum One and Linea.
Source: Cryptocurrency
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