Pancakeswap Adds Transak to its “Buy Crypto” Tab
Pancakeswap, a decentralized exchange (DEX) with over $1.3 billion worth of crypto locked in its contracts and doing $150 billion in volume per day, according to DeFi Llama, has added Transak as a provider in its “buy crypto” tab, giving users an additional option for shopping for crypto. This feature was previously only available through Mercuryo and Moonpay, making Transak the third provider to be added.
Unlike other DEXs, Pancakeswap doesn’t have the capability to perform fiat to crypto conversions. To solve this problem, the development team added the “buy crypto” feature, which allows users to onboard with third-party providers like Mercuryo, Moonpay and now Transak. Transak, which is integrated into over 350 Web3 apps, offers more than 20 payment options based on global needs, such as debit cards, Google Pay, Apple Pay, bank transfers, and nine different cryptocurrencies across seven different blockchain networks.
The anonymous head of Pancakeswap, Mochi, said that the integration will make decentralized finance protocols easier to use. On May 30, the DEX released a web3 game named “Pancake Protectors”, which offers additional benefits to holders of its governance token, CAKE. The inflation rate of the token was decreased to 3%-5% through a governance vote in April.
Web 3.0, also called the decentralized web, is a concept that has been around for some time, and many people are interested in its potential. Defi, NFTs, Daos, and Web 3.0 are all related concepts that have grown in popularity as the technology has advanced. Web 3.0 already exists and is different from Web 2.0 in a number of ways, such as its focus on decentralization and the ability to create new applications and services.
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