PancakeSwap has revolutionized its user interface by implementing gas-free transactions with the recent integration of Zyfi on zkSync Era. Through this integration, users of the decentralized exchange (DEX) can now enjoy gasless transactions on specific token pairs where transaction fees will be covered by PancakeSwap, zkSync, or other DeFi protocols.
This move towards gasless transactions is expected to make DeFi more accessible to a wider audience, potentially increasing adoption rates. Chef Brownie, the marketing lead at PancakeSwap, explained to Cointelegraph:
“In the past, new DeFi users were required to purchase Ether (ETH) before making trades, as ETH is the token used to pay transaction fees on the Ethereum network. However, with this new integration, PancakeSwap users can now pay gas fees using more than 10 ERC-20 tokens, eliminating the need to hold the main gas token.”
Currently, PancakeSwap ranks as the sixth-largest DEX with a daily trading volume exceeding $311 million, according to data from CoinMarketCap.
Decentralized exchanges face challenges in attracting mainstream users away from centralized exchanges (CEXs) due to their more user-friendly interfaces and ease of use. Nevertheless, PancakeSwap’s simplified trading experience has the potential to draw more traders to the DEX, as noted by Chef Brownie:
“According to Dune, DEXs collectively generated a trading volume of $3.86 billion in the last 24 hours, which is significantly lower than the $17.6 billion trading volume seen on Binance, the world’s largest CEX.”
Improving user experience remains a key obstacle for DeFi protocols looking to increase adoption rates. Chef Brownie emphasized:
“PancakeSwap is committed to introducing additional user-centric features, such as payments with a wider range of ERC-20 tokens, to enhance the trading experience for users.”
As part of the integration, the zkSync team will cover $5,000 worth of gas fees on a first-come, first-served basis for users of the zkSync Era PancakeSwap. Traders using Zyfi’s paymaster on zkSync Era PancakeSwap will accumulate gas points, increasing their chances of receiving a Zyfi token airdrop with each transaction.
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