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Reading: PancakeSwap Adds Portfolio Manager function in Collaboration with Bril Finance
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COINTURK NEWS > Blockchain News > PancakeSwap Adds Portfolio Manager function in Collaboration with Bril Finance
Blockchain News

PancakeSwap Adds Portfolio Manager function in Collaboration with Bril Finance

In Brief

  • Decentralized finance protocols (DeFi) continue to attract significant attention with the many advantages they offer to users, and protocol teams are constantly introducing updates to their users. Accordingly, DeFi crypto exchange PancakeSwap announced on October 30th that the portfolio manager function has been added to the protocol. This feature was implemented in collaboration with another […]
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Decentralized finance protocols (DeFi) continue to attract significant attention with the many advantages they offer to users, and protocol teams are constantly introducing updates to their users. Accordingly, DeFi crypto exchange PancakeSwap announced on October 30th that the portfolio manager function has been added to the protocol. This feature was implemented in collaboration with another DeFi protocol, Bril Finance.

Contents
PancakeSwap Team Draws AttentionWhat’s Happening on the Platform?

PancakeSwap Team Draws Attention

With the new feature, PancakeSwap users will be able to deposit their crypto assets into single-asset vaults through the exchange’s user interface. Once the crypto assets are deposited, they will enter a liquidity provision algorithm with automatic rebalancing. PancakeSwap and Bril development teams claim that this system will allow users to achieve higher risk-adjusted returns compared to other methods.

According to the announcement made by the team, users will be able to deposit assets such as Tether, Bitcoin, BNB, and Ethereum into these vaults. The teams claim that the protocol has already generated an internal rate of return (IRR) of over 24% in tests. IRR is known as a metric that measures the annual compound rate of return for a project.

What’s Happening on the Platform?

Following the release of the feature, additional rewards will be provided to users in the exchange’s governance token CAKE during the first four weeks. The announcement stated that PancakeSwap will be the only interface that provides access to Brill’s portfolio management system during the exchange’s launch. PancakeSwap CEO Mochi stated that the new integration will help make the exchange an important hub for DeFi and added:

“We aim to be a hub for the entire DeFi sector and similar integrations, which allows us to be a one-stop destination for portfolio management. The automatic technology of Bril and its integration with PancakeSwap will enable PancakeSwap users to benefit from the familiar core features and functions they are already accustomed to and seamlessly earn profits from their assets.”

According to data from blockchain analytics platform DeFiLlama, PancakeSwap is the second-largest DeFi crypto exchange in terms of daily volume. The team launched a game called Pancake Protectors in May and integrated Transak as a vendor for fiat-to-crypto payments in September.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 30 October, 2023 - 9:18 pm 30 October, 2023 - 9:18 pm
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