PancakeSwap announced that it will switch to V2 in the morning hours on April 23rd. After the update, there will be changes in the rewards distributed to PancakeSwap liquidity providers.
PancakeSwap will go for updates on two currently actively used smart contracts. The new contracts will give PancakeSwap flexibility in transaction fee policy.
Voting for CAKE owners started
After the changes to be made in the Router and Factory contracts, the existing transaction structure mechanism can be changed. CAKE owners began voting for the new mechanism to replace it.
After the update, the tokens (LP tokens) awarded to liquidity providers will be changed. New farms with the same prizes and pairs as the old ones will be established on the platform and no rewards will be received from old farms.
According to reports, LP token holders are required to 1) end their staking on old farms, 2) withdraw their liquidity from old pools, 3) switch to new pools, and 4) stake on new farms.