PancakeSwap rethinks its GameFi plans and teases multi-chain development

PancakeSwap, BNB Chain’s renowned Decentralized Finance system, has momentarily paused its GameFi growth plans.

Back in February, Ask-Me-Anything, Decentralized Exchange, teased that it would create a simple video game as its initial foray into GameFi’s market segment. After which, on the 20th of July, throughout an AMA on Twitter Space, PancakeSwap’s Project Coordinator, Chef Cadbury, declared that the system will no longer continue the advancement of a particular video game.

PancakeSwap is just a BNB Chain-based Decentralized Transfer. It provides consumers with various functionalities such as cash flow pools, substituting, yield cultivation, syrup pools, a computer-controlled trading platform, a preliminary farm presenting, an NFT account mechanism, and many more.

Furthermore, the protocol assists consumers in making the best use of their digital currencies through buying and selling, garnering yield farming, and gaining through a raffle, prognostication, and NFT gems. PancakeSwap seems to be the pioneering DEX on BNB’s Chain, only with the most significant trading activity in the industry.

While individuals of the PancakeSwap public who have been eagerly waiting to witness the system take part in the GameFi change may be disappointed, the choice was made because PancakeSwap was trying to play its classic point of differentiation as just a DEX.

Chef Cadbury stated that the group realized they might need a detailed investigation, time, and effort to develop financially viable video games that provide good entertainment functionality. Instead of jeopardizing releasing something of poor performance, the organization has chosen to explore the possibility of partnering with other systems more skillful in developing games.   For the time being, PancakeSwap has no plans to release a blockchain video game through the third quarter of 2022.

Will Ethereum be the next step?

In a different context, PancakeSwap revealed that it is operating to broaden to specific other blockchain systems in its July report.

Based on the document, they have been working on developing other branches in a manner that is acquainted with all current PancakeSwap customers. They firmly believe in assisting existing and new customers on all other chain systems in a manner that motivates them to seek all of the functionalities on BNB’s Chain.

PancakeSwap would probably start its multi-chain adventure on Ethereum’s platform, as disclosed in July in that AMA Twitter Space.  The group anticipates tough opposition from established Ethereum DEXes yet wishes to imitate the notoriety of their famous BNB Chain on the Ethereum platform.

As per DefiLlama statistics, PancakeSwap seems to be the best Decentralized Application on the BNB Chain, with approximately 50 percent among all TVL just on their chain.

PancakeSwap could classify seventh according to TVL (beside Compound) and third among many DEXes within the significantly bigger Ethereum platform.

The PancakeSwap public can expect updated information in the coming days, as the system’s chefs have already worked on formulas for the fourth quarter of 2022.