Pangolin utilizes the same automated market-making (AMM) model as Uniswap but leverages Avalanche’s low fees and faster finality.
According to a press release shared with The Chain Bulletin, fees on Pangolin will be up to ten times cheaper than on Ethereum, with confirmation times as fast as one second. The launch of the Avalanche-Ethereum Bridge will enable users to seamlessly transfer Ethereum assets to Avalanche. The bride, an implementation of ChainBridge technology, enables DeFi users to pursue yield opportunities with assets such as AAVE, UNI, LINK, WBTC, and others.
“Not only does this enable a wider set of assets and applications, but it also empowers capital efficiencies more closely mirroring institutional finance than what traders have come to expect in cryptocurrencies and digital assets,” the company said in the release.
The newly-launched Pangolin will also feature a liquidity mining program that will enable liquidity providers to yield PNG, the exchange’s native governance token. There will be no pre-mine or early access tokens aimed at investors, with all PNG tokens distributed to the community through airdrop and liquidity mining.
The 0.30% trading fees for swapping tokens are given to liquidity providers, the company said.