PancakeSwap, a decentralized exchange (DEX), unveiled its fourth iteration, PancakeSwap v4, on Friday.

The upgrade, scheduled for release in Q3 2024, introduces features such as customizable liquidity pools and lower transaction fees.

PancakeSwap initially launched on the BNB Chain (Binance Smart Chain), but now operates across nine chains, according to DefiLlama.

The protocol has US$2.33 billion worth of assets locked, the third-most in the world.

The new version of PancakeSwap aims to address the limitations of its predecessor by offering a variety of pool types, such as Concentrated Liquidity Automated Market Maker (CLAMM) and Liquidity Book.

These pools are designed to minimize impermanent loss for liquidity providers and price impact for traders.