PancakeSwap Launches Protocol for Free Token Creation on BNB Chain
Popular decentralized exchange (DEX) PancakeSwap has announced the launch of a free token creator, mirroring those seen on Solana, Cardano, and Tron.With demand for protocols that allow seamless token deployment on the rise, PancakeSwap has found the innovation appealing. Today, the decentralized exchange announced it has ventured into the innovation, launching a protocol that allows such on the Binance Chain (BNB Chain).PancakeSwap Raises Free Deployment AnticsIn a tweet today, PancakeSwap announced that its protocol, termed the PancakeSwap Springboard, would allow users to create tokens on the BNB Chain for free. Notably, other such existing platforms charge users certain amounts to launch their tokens.For instance, Cardanos Snek.fun charges 25 ADA for token creation, while Trons Sunpump requires a payment of around 20 TRX to launch a token. Meanwhile, Pump.fun recently shifted its launch fee to first buyers and even offers a 0.50 SOL reward for users who launch meme coins through the platform.Notably, PancakeSwaps free deployment antics would deepen the competition in the sector. The PancakeSwap Springboard also offers users multi-token pairings and liquidity boosts with CAKE.No Coding, Automatic Liquidity Pool IntegrationFurthermore, PancakeSwap mentioned that launching a token through the protocol does not require coding experience. The deployer is only required to choose the token name and ticker to create one on the platform.The decentralized exchange also teased automatically adding the created token to a liquidity pool when it hits the required liquidity on the bonding curve. Following the launch, PancakeSwap will list the token on its DEX, allowing easy trading.Meanwhile, the Springboard protocol is the first of its kind on the BNB Chain. A similar platform boosted the activities on the Solana and Tron networks, pushing their prices up significantly.If the platform gains traction, BNB and PancakeSwaps CAKE could be massive beneficiaries of the launch. Notably, the BNB Chains native token broke to a new all-time high of $793.86 today, while CAKE surged to an eight-month high of $4.515.
Text source: The Crypto Basic
