PancakeSwap partners with Bril Finance to bring automated portfolio manager tool to users

October 30, 2023 09:25 AM PDT | By Invezz

PancakeSwap partners with Bril Finance to bring automated portfolio manager tool to users — Image source: Invezz

Integration brings benefits of single-token liquidity to users

A position manager allows for automated LPs, auto-compounding of LP rewards and easy integration with top DeFi protocols and strategies, the PancakeSwap team said.

🌊🌟 Unfold the magic of single-token liquidity with @Bril_Finance on PancakeSwap's Position Manager!

🔍 We're here to guide you through every step with a crystal-clear tutorial 📖: https://t.co/cDqLH3Hruu

🎉 Bonus Time: LPs using the Yield IQ strategy can now earn extra CAKE… pic.twitter.com/wDmxzrA8AB

— PancakeSwap🥞Everyone's Favorite DEX (@PancakeSwap) October 30, 2023

According to an announcement on Monday, the partnership with Bril adds the platform’s automated yield strategies to PancakeSwap, enabling portfolio managers to optimize assets on the BNB Chain. This means users can now deposit Tether (USDT), Bitcoin BEP 2 (BTCB), BNB (BNB), and Ether (ETH) among other tokens, into single-asset vaults.

Deposited tokens go into a liquidity provision infrastructure boasting automated rebalancing algorithms – which the two platforms say offer high capital efficiency “for risk-adjusted returns.”

“By partnering with Bril Finance, we are excited to bring additional DeFi opportunities to our users. We aim to become a hub for all of DeFi and integrations such as this, allowing us to become a one-stop shop for portfolio management,” PancakeSwap’s head chef, said in a statement.

Following this integration, users have a chance to earn PancakeSwap (CAKE) rewards for up to four weeks. USDT/CAKE, USDT/BNB, and BTCB/USDT liquidity pools will receive 1,000 CAKE weekly while BNB/CAKE, BTCB/CAKE, and ETH/CAKE will be granted 500 CAKE.

The post PancakeSwap partners with Bril Finance to bring automated portfolio manager tool to users appeared first on Invezz

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