PancakeSwapX Released zero-fee, gasless swaps on Ethereum and Arbitrum

DeFi exchange platform PancakeSwap releases a new product, namely PancakeSwap X, with zero fees transfers and gasless swaps, thus making trading easier for its users.

PancakeSwap has recently launched PancakeSwapX, a new product with a design to improve the execution price and simplify the user experience in DeFi. In its latest version, this product offers users zero-fee transfers and swaps assets without gas on the Ethereum and Arbitrum networks for mainstream crypto adoption.

He further elaborated that what head chef at PancakeSwap, Chef Kids needs is to decrease the difficulty in trading such that users are focused on executing the trades and not bothered about holding multiple native gas tokens as well as calculating gas fees. "PancakeSwapX aggregates the sources of liquidity, which will help to get better execution prices without switching.".

This would pose a challenge to new users of DeFi because currently, the onboarding process is usually long-winded where one would need to set a native Ethereum address and seek to purchase Ether to cover the transaction fees. However, this would be mitigated in PancakeSwapX with the innovation of a gasless swap feature that allows smooth and effortless transaction among the users without necessarily holding the gas tokens such as Ether.

Streamlined User Experience for Mass Adoption

Generally, simplification of user experience in DeFi should be considered the key to mainstream adoption. According to Chef Kids, PancakeSwapX removes most of the complexity usually associated with DeFi trading and makes it all the more accessible.

With over 387 digital assets and an all-time trading volume exceeding $258 million, PancakeSwap is the fourth largest of all DEXs. Growth will be further fueled by its products such as PancakeSwapX, which addresses the core issue of gas fees and failed transactions paid for at price. Users are spared unwarranted transaction costs as any failed or timed-out orders remain completely offchain via the functionality of gasless swaps.

The Biggest Pain Point for Crypto Adoption

The complexity will continue to be the main challenge to mass crypto adoption." According to Chef Kids, decentralized exchanges with their upside benefit from handling fees off-chain and streamlining the user interface and user experience. In response, PancakeSwapX manages on behalf of its users the gas fees in the manner of CEXs to give a gasless experience.

Other experts in the field also mention that there is a need to eliminate all the friction points of DeFi to onboard the next wave of crypto users. Coinbase did something similar by launching its smart wallet back in July which offered options that are beginner-friendly and sponsorships for gas fees so that it can sustain users.

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