PancakeSwap has partnered with Bril to add portfolio manager functionality
Decentralized crypto exchange PancakeSwap now has a portfolio manager function, according to an October 30 announcement. The feature was added in partnership with Brill Finance, a decentralized finance (DeFi) protocol.
The new feature allows Pancake Swap users to deposit tokens into single-asset repositories through the exchange's user interface. Once the tokens are deposited, they are automatically rebalanced into the liquidity supply algorithm. PancakeSwap and Bril development teams say this system allows users to earn risk-adjusted returns compared to other methods.
According to the announcement, users can deposit cryptocurrencies such as Tether (USDT), Bitcoin (BTC), BNB (BNB) and Ether (ETH). The teams say the protocol produced an internal rate of return (IRR) of more than 24% in trials. IRR is a measure of a project's compound annual growth rate.
During the first four weeks of the feature's release, additional rewards will also be offered to users in PancakeSwap (CAKE), the exchange's management token. At launch, PancakeSwap will be the only interface providing users with access to Brill's portfolio management system, the announcement said.
Mochi, Pancake Swap's “head chef” or CEO, said the new integration will help make the exchange a DeFi hub:
“We aim to be the hub for all DeFi and such integrations, allowing us to be a one-stop shop for portfolio management. Brill's automated technology and integration with PancakeSwap will allow PancakeSwap users to enjoy the core features and functionality they are already accustomed to and seamlessly monetize their assets.” .
Related: UAE Dirham Stablecoin DRAM Launches On Uniswap, PancakeSwap
PancakeSwap is the second largest fully decentralized crypto exchange in terms of daily volume, according to data from Defillama. In May, he launched a pancake game called Pancake Defenders. In September, it integrated Transk as a provider to execute fiat with crypto payments.
