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First DeFi Project on Binance: The PancakeSwap Mini Program Bringing the CeFi and DeFi Ecosystem Together

2022-03-25

  Main Takeaways:

  • Seamlessly use PancakeSwap within the Binance Application – the first DeFi project to launch the PancakeSwap Mini Program.

  • Binance will integrate more DApps to allow users to experience DeFi within an easy-to-use CeFi platform.

  • Together with the Binance DeFi Wallet, users can create a wallet, transfer funds, and use DApps – all within the Binance mobile application.

 

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, today announced the launch of the first DeFi project on its mobile platform, the PancakeSwap Mini Program. The Mini Program will start rolling out today and will be gradually open to all users of the Binance app over the next few days. 

PancakeSwap is currently the most popular decentralized platform by users and trading volume. Its Mini Program launched in the Binance mobile application will lower the barrier to decentralized finance and provide an important opportunity for Binance users to explore the DeFi world.  

Along with PancakeSwap, Binance is also announcing the Binance DeFi Wallet, a non-custodial decentralized Web3 wallet within the Binance application. Users can access the Binance DeFi Wallet from the latest version of the Binance App to create a DeFi wallet, transfer funds, and use DApps such as PancakeSwap. The Binance DeFi wallet experience is designed to simplify the onboarding and fund transfer process for new users, making it very easy to switch between Binance and DeFi, without worrying about selecting certain blockchains or copy/pasting the right addresses. 

For Binance, the cooperation with PancakeSwap has opened the DeFi world for users in the Binance ecosystem. New crypto users may not have the experience of creating a Web3 wallet, adding liquidity, staking, trading a wide variety of assets, participating in decentralized IFOs, etc. The PancakeSwap Mini Program provides an easy-to-use platform for users to have a Ce-DeFi experience. 

Binance Head of Product Mayur Kamat said, “CeDeFi is an important strategy for Binance’s development. As part of the strategy, the PancakeSwap Mini Program is only the beginning of integration of DeFi projects into the Binance ecosystem. In the future, the Binance Mini Program feature will be open to more decentralized projects, providing users with smooth Ce-DeFi experience.” 

For PancakeSwap, integrating with the most popular centralized ecosystem in the world enables it to educate and attract more users into the decentralized world. Through broad asset depth and liquidity, PancakeSwap will be able to further improve the core DeFi trading experience and expand other products embraced by the community.

“As the first DeFi project to launch a Mini Program, we have been working closely with Binance in the past few months. As we unveil more features and activities, we will also work together to improve the user experience of our DeFi products, said Chef Snowball, Head Chef at PancakeSwap. 

PancakeSwap Mini App and Binance DeFi Wallet will be rolling out to users over the next few days. Users can scroll down from the top of the Binance App homepage to find the Mini Program Marketplace, where they can find PancakeSwap. Alternatively, users can search from the Mini Program Marketplace. 

About Binance

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users. It features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com. 

About Binance Marketplace

The Binance Marketplace provides DeFi applications outside of the Binance ecosystem an opportunity to be integrated within its platform while enabling users a seamless DeFi experience within a CeFi application. With the Binance Marketplace, the Binance App will become a super App, providing a one-stop user experience.

 About Binance DeFi Wallet 

The Binance DeFi Wallet is a non-custodial decentralized Web3 wallet within the Binance application. Together with the Binance DeFi Wallet, users can create a wallet, transfer funds, and use DApps – all within the Binance mobile application. Currently, the wallet supports transfers only to and from the Binance CEX spot wallet. This eliminates the need to copy, paste and check the wallet address for the withdrawal from the Binance CEX spot wallet and depositing back into it.

 About PancakeSwap

PancakeSwap is the leading decentralized exchange and yield farm on BNB Smart Chain, with the highest trading volumes in the market. It is also the most popular decentralized platform by number of users. PancakeSwap's goal is to help users make the most out of crypto in three ways: Trade, earn and win – it has since expanded its product suite with Prediction, NFT Marketplace, IFO, and more. To learn more about PancakeSwap, please visit pancakeswap.finance and docs.pancakeswap.finance.