Cryptocurrency News

PancakeSwap Partners with ApolloX to Launch Perpetual Trading

By March 15, 2022 No Comments

PancakeSwap, one of the leading decentralized exchanges (DEXs), has announced the launch of the perpetual trading feature, which will allow its users to approach the crypto markets with greater precision and efficiency.

Key takeaways:

  • Perpetual trading is a form of margin trading and one of the pillars of investing in both crypto and traditional financial circles. It gives traders the ability to leverage their funds to increase exposure to the markets by going long or short with contracts that have no expiration date.
  • ApolloX, the world’s first CEX-DEX hybrid futures crypto exchange, has collaborated with PancakeSwap developers to build a reliable and non-KYC-required futures trading offering.
  • PancakeSwap is a Binance Smart Chain (BSC) alternative to the market-leading and Ethereum-based decentralized trading protocol Uniswap. The platform’s native CAKE token allows holders to secure lower trading fees and access exclusive features.
  • PancakeSwap is one of the most popular decentralized trading platforms in the sector, offering a comprehensive suite of products and services, including initial farm offerings (IFO), crypto swaps, and numerous liquidity pools.
  • While the DEX sector has been growing exponentially for years it still pales in comparison to the aggregate trading volume of centralized exchanges (CEXs). To put it into perspective, the top 25 DEXs collectively cleared $1.067 trillion in trading volume in the past 12 months. Binance alone has facilitated more than $50 billion in trading volume in the last 24 hours.