Community Approval Request #070: PancakeSwap
Date: Fri, 11 Aug 2023
Author: Mikel
Status: Voting
In this 70th Community Approval Request (CAR), the DIA DAO community will be voting to validate PancakeSwap V3 as a data source for the DIA Platform. DIA’s direct integration into DeFi markets such as the PancakeSwap enables the creation of transparent and fully customizable token price oracles for dApps.
PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
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Timeline:
- Vote: Aug 11, 2023
- Approval: Aug 18, 2023