DeFi
PancakeSwap, the well-known automated market maker (AMM) operating on BSC, has announced the launch of v3 Farm for Space ID Protocol. The platform has stated that consumers should remember to shift their LP to the latest farm in advance of the closure of v2 farms.
PancakeSwap Declares the Launch of V3 Farming on BSC Chain for ID
In this respect, it also guided the migration. PancakeSwap disclosed that the clients should migrate their farm staking and liquidity to the exclusive v3 farming and exchange. According to the platform, it announced the launch of v3 for farms and exchanges in the previous month. According to the company, in the case of a few farming pairs, there will be a requirement for migration if the consumers want to keep getting staking rewards.
Protocol Shares the Conditions for Migration to V3 Farming
In addition to this, the firm mentioned the conditions for the migration. 1st condition is that the users farming on certain v2 farms of PancakeSwap will need to migrate. The respective farms are based on BNB Chain and Ethereum. Another condition points out that the consumers offering v2 liquidity will be required to migrate if a great amount of the token pair’s liquidity has been shifted to v3.
To find out if someone fulfils this condition, the platform added that the consumers should go to the info page, the official website, or the token project’s social channels. The next condition regarding those who provide liquidity is that they will need to migrate to the latest v3 if the relevant token’s project team has declared that the liquidity is to be migrated to the new v3 version. Apart from that, the platform also provided a comprehensive stepwise procedure with which the consumers can carry out migration.
