PancakeSwap offers to pay off interface fees for Uniswap users
PancakeSwap will pay up to $8 million to Uniswap users who have paid high interface fees on its competitor’s platform. Eligible traders must match their Uniswap v3 holdings on PancakeSwap v3. The reimbursement campaign comes after Uniswap hiked its interface fees from .15% to .25% in April.
Crypto traders who match their Uniswap v3 volume 1:1 on PancakeSwap v3 between May 16 and Aug. 15 will receive a full refund of their Uniswap interface fees. The reimbursement campaign comes shortly after Uniswap Labs hiked its interface fee from .15% to .25% for most swaps in April.
"In the dynamic world of decentralized exchanges, recent changes in other protocols' fee structures have left many traders searching for alternatives," PancakeSwap Head Chef Mochi said Thursday in a statement. "As a leading multichain DEX, we are here to offer a direct solution, as this campaign promises lower fees, better prices, and refunds for the excess fees paid on other platforms."
Uniswap's interface fees are charges traders pay to execute some token swaps using the protocol's wallet interface and web app.
To qualify for the refund, crypto traders must have held at least $5,000 in wrapped bitcoin (WBTC) and/or wrapped ether (WETH) pairs traded on Uniswap's Ethereum platform between Jan. 1 and March 31.
Uniswap users can visit PancakeSwap’s Dune dashboard to check their campaign eligibility. Eligible traders must fill out a form to claim the reimbursement.
PancakeSwap v3’s interface-fee campaign marks its latest effort to steal market share from its competitor. The DEX is currently the sixth largest by daily trading volumes, trailing Ethereum-based Uniswap V3’s volume by more than $700 million, according to CoinGecko data.
Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.
