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As we all know, the blockchain world is constantly evolving. New blockchains and projects are emerging every day, and it can be difficult to keep track of them all.
In this article, we will take a look at two of the most popular decentralised applications – PancakeSwap (CAKE) and Uniswap (UNI) – and explore why they are losing holders to Snowfallprotocol.io (SNW).
PancakeSwap (CAKE) & Uniswap (UNI) – Worst Problems
Both PancakeSwap (CAKE) and Uniswap (UNI) are decentralised exchanges. Uniswap (UNI) is built on the Ethereum blockchain, while PancakeSwap (CAKE) is a Binance native DEX. They are both popular platforms for exchanging cryptocurrencies, but they have some common problems.
For one, both PancakeSwap (CAKE) and Uniswap (UNI) are not able to facilitate the swap of assets between two separate blockchains.
For example, Uniswap (UNI) can allow users to swap two crypto assets that are built on the Ethereum blockchain. These ERC-20 tokens can be traded on the Uniswap (UNI) platform.
However, if a user wants to swap an ERC-20 token for a BEP-20 token (a token built on the Binance Smart Chain), they would not be able to do so directly on the Uniswap (UNI) platform.
This is where Snowfallprotocol.io (SNW) comes in. Snowfallprotocol.io (SNW) can facilitate the transfer of assets between two different blockchains. Even though PancakeSwap (CAKE) is a newer platform, it also failed to address this problem. It’s an excellent Binance (BNB) specific DEX, but it lacks interoperability between different chains.
Why Snowfallprotocol.io (SNW) Is Gaining Popularity
Snowfallprotocol.io (SNW) is a multi-chain interoperability protocol that facilitates secure asset transfer and cross-chain transactions between blockchains. The protocol is designed to help connect users to their favourite decentralised applications, regardless of which blockchain they are built on.
This is a major selling point for Snowfallprotocol.io (SNW), as it allows users to access a wide range of dApps without having to worry about which blockchain they are built on.
Liquidity providers on Uniswap (UNI) can only provide liquidity for tokens that are built on the Ethereum blockchain. The same can be said about PancakeSwap (CAKE) and BNB tokens. This limits De-Fi’s potential because it creates a walled garden for each blockchain.
With Snowfallprotocol.io (SNW), there are no such barriers. Users can easily and securely swap assets between any two blockchains that are connected to the Snowfallprotocol.io (SNW). PancakeSwap (CAKE) users also have to have a native BNB wallet to participate. Blockchain technology and De-Fi applications should be accessible to everyone, regardless of which blockchain they are built on.
Plus, as mentioned earlier, these two platforms only offer liquidity for a fraction of the total number of assets that are available in the cryptocurrency market. Uniswap (UNI) led the way for DEXs by being the first decentralized exchange on Ethereum. PancakeSwap (CAKE) added functionality to the growing blockchain of Binance. However, it’s time for a new age in blockchain technology.
It’s Time For A Multi-Chain Future!
PancakeSwap (CAKE) is just a stepping stone to what crypto users truly want. Sure, it’s a step towards financial flexibility for the BNB ecosystem, but for the broader crypto community, it is not the project that will provide what we need to introduce mainstream adoption.
We want a cross-chain world where all of our favorite projects can interact with one another, and that’s exactly what Snowfallprotocol.io (SNW) is building.
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