PancakeSwap recently integrated with Zyfi on zkSync Era, bringing gas-free deFitransactions and improving user experience.
After integrating gas-free deFi transactions, decentralized exchange (DEX) users can access gasless transactions on specific token pairs. Transaction fees will be supported by other decentralized finance (DeFi) protocols like PancakeSwap or zkSync.
Gasless transactions can increase DeFi’s acceptance by bringing it closer to the general public. PancakeSwap’s marketing lead, Chef Brownie, told Cointelegraph:
“Gas-free transactions remove a major hurdle for new DeFi users and simplify the trading process. By allowing gas payments with various ERC-20 tokens, we make transactions smoother and more accessible, enhancing user satisfaction and promoting wider adoption.”
Before making a deal, new DeFi customers had to purchase Ether because it is the Ethereum network’s token to cover transaction costs.
The requirement to hold the primary gas token has been eliminated for PancakeSwap users thanks to the new integration, which enables them to pay gas fees using more than ten ERC-20 tokens.
With more than $311 million in daily trade volume, PancakeSwap is currently the sixth-largest DEX, according to CoinMarketCap statistics.
Simplifying trading can increase DEX adoption.
The general public still needs help to switch from centralized exchanges (CEXs), which have a more user-friendly design, to decentralized exchanges.
Chef Brownie said PancakeSwap’s streamlined trading process might draw more traders to the DEX.
“Simplifying trading, especially through features like paying gas fees with various ERC-20 tokens, makes DEXs more appealing. A user-friendly interface and seamless transactions can attract users from CEXs while also inheriting DEXs’ benefits like self-custody wallet.”
Dune claims that in the last 24 hours, the overall trade volume on DEXs has hit $3.86 billion. This metric is a tiny portion, or over five times smaller than the $17.6 billion in trading volume that Binance, the biggest CEX in the world, has accumulated.
The primary barrier to DeFi protocol adoption continues to be user experience
For the majority of newly developed DeFi protocols, streamlining the user experience is paramount, said Chef Brownie:
”Yes, issues with user experience and friendliness still need to be resolved. At PancakeSwap, we work hard to make our platform as user-friendly and intuitive as possible.”
PancakeSwap intends to provide more user-focused features, such as payments with more ERC-20 tokens, to improve trade.
With every transaction, traders who utilize Zyfi’s paymaster on zkSync Era PancakeSwap will accrue gas points, increasing their likelihood of getting an airdrop of Zyfi tokens.
Users of the zkSync Era PancakeSwap will be eligible to receive $5,000 in gas expenses from the zkSync team, first come, first served, following integration.
