TigerSwap, Uniswap, PancakeSwap — What Is The Difference? Detailed Breakdown & Comparison.
Hello $TIGERS, As we approach the final rounds of the first quarter of the year, I must admit that one of the most frequently asked questions we have been getting from the community and potential investors is this particular one — What is the difference between Uniswap, Pancakeswap & TigerSwap?
In this article, we shall be answering this question and sharing with you a possible forecast of our vision and goals too.
First let us look at the early days of cryptocurrency and how AMMs became very vital to the existence of the whole ecosystem — People needed a decentralized medium of exchange and this necessity led to the creation of DEX. However, as the industry continues to evolve, operations and medium of exchanges also evolved too, protocols became more advanced, new tools and suites became more necessary and this continuous growth and innovation of the industry has kept it stronger and relevant to a global market generally — so much at the moment total value locked in DeFi is over $71 Billion US Dollars and this is just the beginning. Here let’s look at the timelines:
Uniswap launched v1 in 2018, v2 was launched in 2020, while v3 was launched in 2021. Uniswap operates on the Ethereum blockchain and serves as the leading DeFi liquidity protocol and AMM for easy cryptocurrency trading using ERC20 tokens.
In September 2020, Binance Smart Chain was launched as an alternative to Uniswap following high gas fees and transaction cost. It soon became popular due to its interoperability and lower transaction cost. During this period, it was reported that several projects previously on the Ethereum network migrated over to the new Binance Smart Chain network as the low fees made user adoption a lot faster. Binance Smart Chain is EVM compatible where EVM stands for — Ethereum Virtual Machine meaning it supports all the existing Ethereum tooling Fast block time, cheaper cost. Soon the industry needed another AMM for transactions on this new network. which led to the launch and industry relevance of Pancakeswap
Pancakeswap was launched in 2020 to serve as a DeFi liquidity protocol for the Binance Smart Chain network where users can trade and swap BSC tokens. While it is a fork a Uniswap, it also brings in unique features and functions to the market such as syrup pools, lottery et.c. However, one the secret reasons behind its rapid growth and success was the fact that it is filling a huge hole in the industry which is an AMM on Binance Smart Chain. But Sadly, here is the problem — It is build based on the Uniswap v2 AMM model which fast forward to 2022 — Has proven to not be the only solution as new and advanced models have been released afterwards and sadly there has not been an upgrade of the advanced v3 AMM there by creating a huge market gap for the Binance Smart Chain Network
Hence the invention & introduction of TigerSwap! The most flexible, innovative , latest and most advanced AMM & DeFi Protocol to be available on the Binance Smart Chain Network running on v3!
TigerSwap is the latest addition to the industry standards of AMMs & DeFi Protocols. Launch in 2022, it creates not only a balance between both Uniswap and Pancakeswap but also serves as an outlet to connect to the future meaning with its superoperability, TigerSwap can be easily compatible and can easily integrate up to v4, v5, v6….vx!
It is like an advanced version of Pancakeswap and like having Uniswap v3 running on Binance Smart Chain Network while still being able to use features provided by Pancakeswap. Even more, TigerSwap also comes with its own unique features and products which we shall be exploring further below:
- Tiger DEX — This is a v3 AMM that allows trading and exchange of tokens. Liquidity providers have the options to choose from different fee tiers and LP positions will be represented as on-chain generative NFTs. (Pancakeswap doesn’t have this — still stuck on the old v2 AMM) Read more here where we shared further on the differences
- Tiger Farms — Earn passive income and one of the highest APYs in the market by Staking and Farming on the Tiger platform.
- Tiger Pools & Vaults — Unique feature and updated functions
- Tiger Lottery — Win amazing offers and rewards via the lottery system
- Tiger NFTs — Initial offering scheduled for Q3–2022, total Tiger NFTs available for minting = 3,890 and only holders of the $TIGERS token can participate. These NFTs are also a part of the upcoming Tiger Games — A play to earn game expected to launch in the future and will be the focus of the team after launching the full TigerSwap DeFi enviroment. The Tiger NFTs will also be the first NFTs to be auctioned and sold on the Tiger NFT Marketplace and serve as the pilot version of the NFT Fraction technology team is currently researching on and will be launching too in the future. This allows people to by fractions of very expensive NFTs — Just like saying if you can’t buy 1 Bitcoin, you can buy Satoshis, thats similar to what we are working on at TigerSwap — NFT Fractions is a key part of our future.
- Tiger DAO — As we are a 100% decentralized platforms, holders of the $TIGERS token can vote in decision making via the DAO
- Tiger Pad — Creating an environment for other future crypto innovations to get launched. These & much more are some of the reasons we stand out.
Comparing Daily Volumes & Liquidity
Here lets look at the impact the evolution of the market has had on both available liquidity and total values locked on each different versions:
Uniswap v2 & v3
The Uniswap v2 holds about $3.4 Billion in Liquidity and about $189 Million Dollars in daily volume transactions. Now lets look at v3 below:
The Uniswap v3 holds over $4.6 Billion US dollars in Liquidity with about $2 Billion US Dollars in daily transaction volumes.
Take note — all these are available on Ethereum Network. Now lets look at whats available on Binance Smart Chain:
PancakeSwap — Fork of Uniswap v2
PancakeSwap as at the time of writing this article holds about $4.5 Billion in Liquidity with $600m daily trading volume. There is no v3.
This is why our team has come together to create TigerSwap to fill this void and create huge opportunities for the market to enjoy all the benefits and great functionalities that comes with the v3 AMM and ecosystem.
TigerSwap — Bring v3 AMMs to Binance Smart Chain
With the current huge demand for v3 features as evident in the heavy gap between Uniswap v2 and v3 liquidity and daily volumes, there is no doubt that v3 AMMs are the future for Binance Smart Chain Network. First it allows LPs enjoy over 4,000x capital efficiency but also it gives holders the power to earn more APYs and yields through available pools & deFi farms.
No doubt something is about to pop on the Binance Smart Chain and especially AMMs on the network right now but the real question is would you rather wait and watch as everything unfolds or would you rather ensure you are strategically positioned for the future of DeFi & enjoy great yields on your investment while earning passive income at the same time.
As I mentioned in a previous article,
Find Out Where The Industry Is Heading & Invest In Innovative Solutions & Platforms Before The Market & The People Get There
The TigerSwap community will be happy to welcome you as a part of our family, make sure you don’t miss out on this train.
Have any more questions feel free to also ask us in the official Telegram groups too. All social links and contact details are below. Join us today and together lets be strategically positioned for the future of DeFi & Binance Smart Chain Network! Are you ready? Then together, let’s set the ball rolling via:
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Risk Warning: We advise you always do your own research and note that this project is experimental and as such no one will be responsible for any loss of investment. Only invest money you can afford to loose. Cryptocurrency is subject to high market risk. Please make your trades cautiously. The TigerSwap team will make best efforts to create a highly valuable environment and great product, but will not be responsible for your trading losses. The industry is volatile and like with every other cryptocurrency project, it comes with its own risk. Thank you.