In a recent announcement on Oct. 30, PancakeSwap, a leading decentralized crypto exchange, unveiled its new portfolio manager functionality. This addition was made possible through a strategic partnership with the decentralized finance (DeFi) protocol, Bril Finance.
PancakeSwap’s users can now enjoy the convenience of depositing tokens into single-asset vaults directly through the exchange’s interface. Once tokens are in, they are channeled into a liquidity provision mechanism that includes automatic rebalancing. This system, as vouched for by both PancakeSwap and Bril’s development teams, promises users higher risk-adjusted returns as compared to other conventional methods.
The integrated feature supports various popular cryptocurrencies, including Tether, Bitcoin, BNB, and Ether. Preliminary results are promising; the protocol reportedly achieved an impressive 24% internal rate of return (IRR) in its tests. IRR serves as an indicator of a project’s compound annual growth rate.
Adding a cherry on top for early adopters, PancakeSwap has announced additional rewards in the form of its governance token, CAKE, for the initial four weeks after the feature’s launch. The announcement also highlighted that at the outset, only PancakeSwap will grant users access to Bril’s state-of-the-art portfolio management system.
Mochi, PancakeSwap’s CEO, often referred to as the “Head Chef”, expressed optimism about this development. He believes that this integration propels the exchange further towards its goal of becoming a prominent DeFi hub. Mochi said, “This move is in line with our aspiration to establish ourselves as a comprehensive DeFi solution. Bril’s advanced automated technology, when integrated with PancakeSwap, offers our users an enhanced experience. They can leverage familiar features while also capitalizing on their assets in a more automated, hands-off approach.”
According to data from DefiLlama, PancakeSwap holds its position as the second-largest fully decentralized crypto exchange based on daily transaction volume. The platform has been proactive in expanding its offerings. Earlier in May, it introduced a pancake-themed game titled ‘Pancake Protectors’. Furthermore, in September, PancakeSwap integrated Transak to facilitate fiat-to-crypto payment solutions.
