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PancakeSwap will pay up to 8 million more than those who paid the premium price on the rival Uniswap platform. Eligible traders must match Uniswap v3 assets on PancakeSwap v3. This refund campaign comes after Uniswap increased its distribution fees from 0.15% to 0.25% in April.
Crypto traders will receive their full Uniswap distribution costs back when they match Uniswap v3 volumes 1:1 on PancakeSwap v3 between May 16 and August 15. This cashback campaign was launched shortly after Uniswap Labs increased its distribution fee for most exchanges from 0.15% to 0.25% in April.
“In the dynamic world of decentralized exchanges, recent shifts in fee structures of other protocols have driven traders to alternatives. As a leading multi-chain DEX, we offer a straightforward solution by offering lower fees, better Prices and refunds of excess fees paid on other platforms,” said Mochi, PancakeSwap Principal Chief ” said.
Uniswap’s tariff prices are the fees traders pay for certain token swaps stored through the protocol’s budget interface and web application.
To be eligible to receive cashbacks, crypto traders must own at least $5,000 worth of wrapped bitcoin (WBTC) and/or wrapped ether (WETH) pairs on Uniswap’s Ethereum platform between January 1 and March 31.
Through Uniswap, they can check their campaign structure by visiting PancakeSwap’s Dune plan. Eligible merchants must fill out a form to request the refund.
PancakeSwap v3’s exit fee campaign marks the latest move to steal market payment from its competitors. The DEX currently has a regular distribution of daily trading volume, which is more than $700 million behind the volume of Ethereum-based Uniswap V3, according to CoinGecko systems.
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