PancakeSwap, the leading decentralized exchange (DEX) on the BNB Chain, has added another version of its derivative contracts on the Arbitrum (ARB) network.
The DEX announced the development to the crypto community in a recent tweet. According to the update, Perpetuals v2 contracts are now available on the Ethereum Layer-two scaling solution, Arbitrum.
🔥 Enjoy the lowest trading fees in the market: 0.05% during the inaugural month!
🥳 Plus, don’t miss out on all of these perks:
1️⃣ Mint ALP to share in 50% of platform trading fee… pic.twitter.com/uPnBICky1D
— PancakeSwap🥞Everyone's Favorite D3X (@PancakeSwap) August 28, 2023
PancakeSwap Perpetuals v2
In the official blog post, PancakeSwap highlighted that ApolloX Finance powers the Perpetuals v2 on Arbitrum. According to the team, this comes after it successfully expanded the functionalities of Swap, Farm, and Liquidity Pools to Arbitrum.
Following this launch, the PancakeSwap team offers its users the cheapest trading fees for perpetual contracts available in the industry. Notably, this is a 0.05% fee for the launch month.
Moreover, the launch offer included users earning real yields on their ALP tokens with a new pool. ALP is the native token of ApolloX, the firm powering PancakeSwap’s Perpetuals v2 contracts. This offer will go live on Thursday, August 31.
In addition, the report highlighted the unique offering of the Arbitrum Perpetuals v2. According to the report, traders can magnify their leverage positions on the contract up to 150 times.
Also, the PancakeSwap team implemented a security and reliability feature to protect traders against abnormal pricing. It achieved this feature via what it called the dual oracle model.
Furthermore, the Arbitrum Perpetuals v2 comes with a new measure dubbed Degen Mode. Per the update, Degen Mode gives traders an alternative trading method with no slippage.
While PancakeSwap’s Perpetuals v2 supports 30 pairs on the BNB Chain, only a fraction will go live on Arbitrum. The blog post noted seven trading pairs will be available on Arbitrum in this initial launch stage. The supported trading pairs include ARB/USD, ETHUSD, XRP/USD, DOGE/USD, and BTC/USD.
Additionally, the PancakeSwap team teased the coming of an “Ultimate Trading Rewards Program.” This program will offer users a chance to earn a share of 50% of the platform’s revenues on trading fees. The crypto community can expect the program from August 31.