Thursday, March 28, 2024

Decentralized exchange PancakeSwap moves into GameFi

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On Might 29, decentralized change (DEX) PancakeSwap announced that it had launched a brand new tower-defense GameFi recreation together with BNB GameFi protocol Mobox. Dubbed “Pancake Protectors,” the sport permits gamers to make the most of the DEX’s native CAKE (CAKE) tokens to earn in-game rewards.

Utilities for CAKE tokens inside Pancake Protectors embody accelerating the level-up course of, buying in-game foreign money, claiming CAKE heroes, staking CAKE to earn sources, and unlocking recreation ranges. There may also be an in-game market for buying and selling CAKE heroes, which could be additional enhanced by taking part in lotteries yielding nonfungible token (NFT) improve rewards. Builders defined the sport as follows:

“Tailored from MOBOX’s MOland Protection Sport, gamers assume the function of a commander to assemble hero characters throughout numerous ranges and interact in a tower protection recreation. CAKE hero characters are essentially the most coveted characters in-game and could be bought with CAKE tokens.”

As well as, gamers combine their NFT with the in-game heroes and show it on their PancakeSwap profile. 

Pancake Protectors gameplay

Launched in 2020, PancakeSwap has turn into one of the vital in style DEXs, with $462 billion in cumulative buying and selling quantity and over $2.5 billion in whole worth locked.

In April, the DEX passed the Pancakeswap v2.5 tokenomics proposal to decrease its CAKE token inflation price from over 20% to a goal vary of three%–5%. The worth of CAKE tokens subsequently plunged 36% prior to now month to $1.73 on the time of publication as a result of decrease worth of nominal CAKE staking rewards. Earlier than the proposal, PancakeSwap operated a high-token-emission mannequin to incentivize person adoption.

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