PancakeSwap revolutionizes user experience by enabling gas-free transactions through its recent partnership with Zyfi on zkSync Era.
After the collaboration, users of the decentralized exchange (DEX) can enjoy fee-less transactions on specific token pairs with the expenses covered by PancakeSwap, zkSync, or other DeFi protocols.
This advancement in gasless transactions will make DeFi more accessible to a wider audience and potentially increase its adoption. Chef Brownie, the marketing lead at PancakeSwap, shared with Cointelegraph:
Previously, newcomers to DeFi had to purchase Ether (ETH) before making trades, as ETH is the token used to pay for transaction fees on the Ethereum network.
The new integration now allows PancakeSwap users to pay gas fees using more than 10 ERC-20 tokens, eliminating the necessity to hold the primary gas token.
Currently, PancakeSwap ranks as the sixth-largest DEX with a daily trading volume exceeding $311 million, according to CoinMarketCap data.
A more simplified trading experience has the potential to boost DEX adoption
Decentralized exchanges are still struggling to draw mainstream users away from centralized exchanges (CEXs) due to their more user-friendly interface and ease of use.
Nonetheless, PancakeSwap’s streamlined trading experience could attract more traders to the DEX, as stated by Chef Brownie:
In accordance with Dune, the total trading volume on DEXs within the past 24 hours has reached $3.86 billion. This amount is significantly smaller, nearly five times less, than the $17.6 billion trading volume amassed by Binance, the largest CEX globally.
Enhancing user experience remains a significant obstacle for DeFi protocols to overcome
Improving user experience is a key focus for many emerging DeFi protocols, Chef Brownie added:
PancakeSwap intends to introduce more user-friendly features, such as payments using additional ERC-20 tokens, to create a more seamless trading experience.
Following the integration, the zkSync team will cover $5,000 worth of gas fees on a first-come, first-served basis for users of the zkSync Era PancakeSwap.
Traders utilizing Zyfi’s paymaster on zkSync Era PancakeSwap will accumulate gas points, increasing their chances of receiving a Zyfi token airdrop with each transaction.
PancakeSwap partners with Zyfi to offer gasfree DeFi trading