PancakeSwap Adds Gas-Free Trading with Zyfi

PancakeSwap has taken significant strides to improve its user experience by introducing gas-free transactions through its recent integration with Zyfi on the zkSync Era. With this integration, users of the decentralized exchange (DEX) will now be able to enjoy gasless transactions on certain token pairs. The transaction fees for these pairs will be sponsored by PancakeSwap, zkSync, or other decentralized finance (DeFi) protocols, making DeFi more accessible and potentially increasing mainstream adoption.

Chef Brownie, the marketing lead at PancakeSwap, highlighted the importance of this feature to : “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.” Previously, new DeFi users had to purchase Ether (ETH) before executing trades, as ETH is the token used to pay transaction fees on the Ethereum network. This new integration allows PancakeSwap users to pay gas fees using over 10 ERC-20 tokens, thereby eliminating the need to hold ETH as a main gas token.

PancakeSwap, currently the sixth largest DEX, boasts a daily trading volume of over $311 million. This simplified trading experience is expected to bolster DEX adoption by making it easier and more appealing for mainstream users to transition from centralized exchanges (CEXs). According to Chef Brownie, “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.”

Despite the efforts to enhance user experience on DEXs, decentralized exchanges still face challenges in attracting mainstream users away from CEXs, which offer more intuitive interfaces and ease of use. The improvements made by PancakeSwap could serve as a catalyst for more traders to explore and adopt DEX platforms. As Chef Brownie pointed out, “UX and user-friendliness are still challenges everyone is trying to overcome. At PancakeSwap, we continually improve our platform’s usability, aiming to make it as intuitive as possible.”

The ease of use on decentralized platforms remains a significant barrier to wider DeFi adoption. PancakeSwap’s new integration aims to address this by introducing user-centric features that simplify the trading process. By allowing users to pay gas fees with ERC-20 tokens, PancakeSwap is working to create a smoother and more accessible trading experience.

In addition to the existing improvements, PancakeSwap plans to introduce more user-centric features in the future. This includes enabling payments with a broader range of ERC-20 tokens, further enhancing the user experience and making the platform even more intuitive. Such features are expected to positively impact the rate of adoption for PancakeSwap and similar DeFi platforms.

As part of this initiative, the zkSync team will sponsor $5,000 worth of gas fees on a first-come, first-served basis for users of the zkSync Era PancakeSwap. This sponsorship will provide an added incentive for traders to utilize the platform, potentially driving higher engagement and adoption rates.

Traders who use Zyfi’s paymaster on zkSync Era PancakeSwap will accumulate gas points. These points will increase their chances of receiving a Zyfi token airdrop with each transaction, adding another layer of benefit for active users. This incentivization strategy is expected to further enhance user interaction and satisfaction on the platform.