PancakeSwap adds portfolio manager function in partnership with Bril
Decentralized crypto exchange PancakeSwap now has portfolio manager functionality, according to an Oct. 30 announcement. The feature has been added in partnership with decentralized finance (DeFi) protocol Bril Finance.
The new feature allows PancakeSwap users to deposit tokens into single-asset vaults via the exchange’s user interface. Once the tokens are deposited, they go into a liquidity provision algorithm with automatic rebalancing. The development teams for PancakeSwap and Bril claim that this system will allow users to get higher risk-adjusted returns compared to other methods.
PancakeSwap user interface. Source: PancakeSwapAccording to the announcement, users will be able to deposit crypto, such as Tether ( USDT ), Bitcoin ( BTC ), BNB ( BNB ) and Ether ( ETH ). The teams claim the protocol has already produced over 24% internal rate of return (IRR) in tests. IRR is a metric that measures the compound annual growth rate for a project.
For the first four weeks of the feature’s release, additional rewards in PancakeSwap’s ( CAKE ), the exchange’s governance token, will also be provided to users. At launch, PancakeSwap will be the only interface that provides users access to Bril’s portfolio management system, the announcement stated.
PancakeSwap’s “Head Chef,” or CEO, Mochi, claimed that the new integration would help make the exchange a major hub for DeFi, stating:
“We aim to become a hub for all of DeFi and integrations such as this, allowing us to become a one-stop shop for portfolio management. Bril’s automated technology and its integration with PancakeSwap will allow PancakeSwap users to enjoy the core features and functionalities they are already accustomed to and seamlessly earn on their assets in a hands-off manner.”
Related: UAE dirham stablecoin DRAM launches on Uniswap, PancakeSwap
PancakeSwap is the second-largest fully decentralized crypto exchange in terms of daily volume, according to data from DefiLlama. In May, it launched a pancake-themed game called Pancake Protectors. In September, it integrated Transak as a vendor for making fiat to crypto payments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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