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PancakeSwap has initiated a campaign to reimburse traders for interface fees incurred by its competitor Uniswap from May 16 to Aug. 15.
The initiative promises refunds for traders who match trading volume on Uniswap v3 with PancakeSwap v3 on a 1:1 basis.
The reimbursement offer follows Uniswap Labs’ decision to increase its interface fee from 0.15% to 0.25% on most swaps in April. The interface fees are applied when traders use Uniswap’s wallet interface and web app to execute token swaps.
Get Your Uniswap Interface Fees Refunded on PancakeSwap, up to $8M!
Match your Ethereum Uniswap volume 1:1 on Ethereum PancakeSwap, and we’ll refund ALL your interface fees paid.
Trade now: https://t.co/9KbutqNsye
Check your eligibility: https://t.co/sInICDd2tY
Read more:… pic.twitter.com/SrMTPJxWsS
— PancakeSwap v4🥞 (@PancakeSwap) May 16, 2024
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“As a leading multichain DEX, we are here to offer a direct solution, as this campaign promises lower fees, better prices, and refunds for the excess fees paid on other platforms,” PancakeSwap head Mochi stated regarding the strategy.
To be eligible for the fee refund, traders must have conducted trades involving at least $5,000 in Wrapped Bitcoin (WBTC) or Wrapped Ether (WETH) on Uniswap’s Ethereum platform between Jan. 1 and March 31. Traders can verify their eligibility via PancakeSwap’s Dune dashboard and must submit a form to claim their refunds.
The campaign is part of PancakeSwap’s broader effort to capture a larger market share. According to data from CoinGecko, PancakeSwap is currently the fifth-largest decentralized exchange by daily trading volumes, trailing behind Uniswap v3, which exceeds PancakeSwap’s volume by over $700 million.
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