PancakeSwap, the renowned decentralized exchange, is set to initiate an ambitious affiliate program aimed at extending its reach across multiple blockchains and layer-2 networks. This move, as outlined by the platform’s lead developer, Chef Mochi, is designed to empower CAKE token holders by allowing them to reap benefits from the proliferation of affiliate versions of PancakeSwap.
In an exclusive interaction with CoinDesk through a Telegram chat, Chef Mochi unveiled that the upcoming affiliate model would enable developers to create and deploy PancakeSwap versions on new blockchains where the exchange does not have an official presence. This strategy is expected to enhance the decentralized finance (DeFi) ecosystem’s accessibility and opportunities by leveraging PancakeSwap’s user-friendly interface and its capability to operate across multiple chains.
“The affiliate program is poised to utilize the robust technical foundation of the PancakeSwap DEX, granting developers and protocols the ability to establish their decentralized exchanges with minimal effort. This initiative seeks to fast-track innovation within the DeFi space without the need to build from the ground up,” Chef Mochi elaborated.
Participants in this affiliate scheme will not only gain the opportunity to offer a PancakeSwap variant in untapped markets but will also enjoy incentives and technical support directly from PancakeSwap. Furthermore, the success of these affiliate forks promises considerable advantages for CAKE holders, including the distribution of native DEX tokens from affiliates and a share of trading fee revenues dedicated to the reduction of CAKE’s circulating supply through a process known as ‘burning.’
PancakeSwap is poised to present this concept to its DAO for discussion, with plans to submit a formal proposal in the near future to gather community feedback and suggestions on the initiative.
Currently accessible on a variety of platforms including BNB Chain, Ethereum, and Polygon, among others, PancakeSwap has achieved a remarkable $640 billion in total trading volumes since its inception in 2020. With over $1.5 billion in total liquidity locked, the platform continues to show significant growth, further evidenced by a 4.2% increase in CAKE tokens over the last 24 hours.
