PancakeSwap introduces Perpetuals v2 contracts on Arbitrum, supporting leverage up to 150x

PancakeSwap, the leading decentralized exchange (DEX) on the BNB chain, has added another version of its derivatives contracts on the Arbitrum (ARB) network.

The DEX recently announced the development of the crypto community in a tweet. According to the update, Perpetuals v2 contracts are now available on the Ethereum Layer-Two scaling solution Arbitrum.

🎉 Exciting news: Perpetuals v2, powered by @ApolloX_Finance, is now live on @arbitrum!

🔥 Enjoy the lowest trading fees on the market: 0.05% in the opening month!

🥳 Also, don’t miss out on all these benefits:
1️⃣ Mint ALP shares 50% of the platform trading fee… pic.twitter.com/uPnBICky1D

— PancakeSwap🥞Everyone’s Favorite D3X (@PancakeSwap) August 28, 2023

PancakeSwap Perpetuals v2

In the official blog entryPancakeSwap emphasized that ApolloX Finance supports Perpetuals v2 on Arbitrum. According to the team, this comes after successfully extending the functionalities of swap, farm and liquidity pools to Arbitrum.

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After this start, the PancakeSwap team offers its users the cheapest perpetual trading fees available in the industry. Specifically, this is a 0.05% fee for the introductory month.

In addition, the launch offer included users being able to earn real returns from their ALP tokens with a new pool. ALP is the native token of ApolloX, the company that powers PancakeSwap’s Perpetuals v2 contracts. This offer will go online on Thursday 31st August.

In addition, the report highlighted the unique offering of the Arbitrum Perpetuals v2. According to the report, traders can increase their leverage positions in the contract by up to 150x.

Additionally, PancakeSwap team implemented a security and reliability feature to protect traders from abnormal prices. This feature was achieved through the so-called dual-oracle model.

In addition, the Arbitrum Perpetuals v2 has a new measure called Degen Mode. As per the update, Degen mode offers traders an alternative trading method without slippage.

While PancakeSwaps Perpetuals v2 supports 30 pairs BNB chain, only a fraction will go live on Arbitrum. The blog post noted that there will be seven trading pairs available on Arbitrum in this initial launch phase. Supported trading pairs include ARB/USD, ETHUSD, XRP/USD, DOGE/USD and BTC/USD.

Additionally, the PancakeSwap team announced the launch of an “Ultimate Trading Rewards Program”. This program offers users the opportunity to earn a 50% share of the platform’s revenue from trading fees. The crypto community can expect the program starting August 31st.

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Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may represent the personal opinion of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic accepts no liability for any financial loss.

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