Introducing USDT-BUSD, USDC-BUSD and USDC-USDT pairs on StableSwap — Enjoy Lower Slippage and Fees for Stable Pairs! Calling for Stable Pair Farm Migration
Dear PancakeSwap community and CAKE holders, we are launching the USDT-BUSD, USDC-BUSD and USDC-USDT StableSwap pairs today.
Users will be able to enjoy lower slippage and fees when trading stable pairs through StableSwap. Additional stablecoin pairs and liquid staking BNB pairs will be added gradually.
What is StableSwap?
This StableSwap is an implementation of Curve Finance’s AMM on PancakeSwap. Since stableswaps are restricted to similarly priced assets, impermanent loss is not as much of a concern (except in extreme depeg cases).
Why should I use the StableSwap on PancakeSwap?
You’ll be able to swap your stablecoins or other pairs of similarly priced assets more efficiently with the same trading steps! With the StableSwap function, the trading slippage is lower than normal AMM which just uses the constant product formula, also, the trading fees are lower compared to the normal AMM.
Migrate your USDT-BUSD, USDC-BUSD, USDC-USDT Farm Staking
Before the launch of StableSwap, the following liquidity pairs and LP Farms are already available on PancakeSwap in its normal V2 AMM Swap:
- HAY-BUSD
- USDT-BUSD
- USDC-BUSD
- USDC-USDT
The launch of trading pairs on StableSwap, will likely result in:
- Swaps will be more efficient
- With the StableSwap function, the trading slippage is lower than normal AMM
- The trading fees are lower compared to the normal AMM
If you are currently not farming with the above LPs, no migration is required.
How to Migrate:
There will be a 5-hour window between StableSwap pool launch at 09:00 UTC, 6 Dec 2022, and before the CAKE incentives are redirected and the new farms for Stable LP are launched at 14:00 UTC, 6 Dec 2022. If you are currently staking LPs in the farm you should:
- Unstake V2 from LP on the Farms Page
2. Remove liquidity of your LP at the Liquidity Page
3. Add liquidity again for USDT-BUSD, USDC-BUSD or USDC-USDT (this time you should see that you’re adding to Stable LP during the process)
4. Stake your Stable LP in the Farms Page — look for the section with the Stable LP label
What are the fees for the StableSwap?
When you conduct a swap (trade) on the StableSwap you will pay lower trading fees, than the usual 0.25% on normal PancakeSwap AMM. The fee attribution is broken down as follows:
- 50% to the LP as rewards
- 40% to CAKE buyback and burn
- 10% to the PancakeSwap Treasury
Fees for pairs are broken down in the table below:
The Kitchen will gradually roll out StableSwap pairs and revise the fee to test and improve the product further.
To learn more about this feature and how to operate it, please refer to our documentation here We strive to continuously improve the experience. If you have any feedback, please let us know on Twitter, Telegram and our Discord Server!
Stack ’em
The Chefs 🐰🥞
