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Bitcoin:
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BTC Dominance:
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Market Cap:
$3.44 T

PancakeSwap Launches Telegram Bot!

Pancakeswap

PancakeSwap, one of the largest decentralized exchanges (DEXs) on the BNB Chain, has launched a Telegram bot that enables users to trade over 3,000 tokens directly within the Telegram app. This innovation marks a significant step toward expanding DeFi (decentralized finance) services to a broader audience.

The Telegram Swap Bot supports PancakeSwap v2 and v3, as well as stableswap transactions. Its primary goal is to offer easier access to DeFi for the many users of Telegram, a widely used messaging app. However, concerns about the security of trading on a non-financial platform like Telegram have been raised.

Security and Privacy

While Telegram was not designed for financial transactions, PancakeSwap aims to mitigate potential risks through end-to-end encryption. This technology is intended to protect users’ trading activities and private information. PancakeSwap emphasizes that users maintain control of their funds, as the Telegram Swap Bot operates directly with users’ own wallets.

Pancakeswap

The launch of Telegram bots and mini-apps is intended to lower entry barriers to DeFi, reduce transaction fees, and make these services more accessible to mainstream users. Bitget CEO Gracy Chen highlighted that Telegram has rapidly gained acceptance in emerging markets, boosting crypto adoption. This makes Telegram one of the most suitable platforms for crypto trading compared to other social media platforms.


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Portfolio Management

Thanks to a partnership with Bril Finance, PancakeSwap integrated portfolio management functionality on October 30, 2024. Users can now earn high-risk returns by investing their tokens into single-asset wallets. This new liquidity-providing algorithm automatically balances the portfolios, offering better risk-reward ratios. PancakeSwap CEO Mochi noted that with this integration, the DEX has transformed into a full-service platform for portfolio management as well.

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