pancakeswap引入動態費用掛鉤，作為其無限升級的一部分

BNB連鎖店上最知名的分散交流之一Pancakeswap引入了動態費用掛鉤，作為其無限升級的一部分 - Pancakeswap V4的繼任者。

PancakeSwap, one of the most recognized decentralized exchanges on BNB Chain, has introduced a Dynamic Fee Hook as part of its Infinity upgrade - the successor to PancakeSwap v4. This feature aims to enhance the platform’s fee structure by responding in real time to changing market conditions.

BNB連鎖店上最知名的分散交流之一Pancakeswap引入了動態費用掛鉤，作為其無限升級的一部分 - Pancakeswap V4的繼任者。此功能旨在通過實時響應不斷變化的市場狀況來增強平台的費用結構。

Instead of fixed trading fees, PancakeSwap now uses a system that adapts dynamically to market volatility. During periods of low volatility and high trading volume, trading fees drop, making it cheaper for users to execute trades and encouraging greater participation.

Pancakeswap現在使用一個動態適應市場波動的系統，而不是固定的交易費用。在低波動率和高交易量，交易費用下降期間，使用戶執行交易並鼓勵更多參與的時期更便宜。

Conversely, during high volatility, fees automatically increase. This acts as a deterrent to arbitrage bots and reduces the risk of short-term price manipulation. At the same time, it rewards LPs who expose themselves to greater risks in unstable market environments. This smart fee model ensures a more balanced and resilient trading ecosystem.

相反，在高波動率期間，費用會自動增加。這是對套利機器人的威懾作用，並降低了短期價格操縱的風險。同時，它獎勵在不穩定的市場環境中面臨更大風險的唱片。這種智能費用模型可確保更加平衡和彈性的交易生態系統。

This dynamic approach solves a long-standing issue in DeFi - how to balance cost-effective trading with the need to protect those who provide liquidity. In traditional AMMs, static fees often leave LPs vulnerable, especially during periods of high volatility, where arbitrage bots can quickly drain liquidity.

這種動態方法解決了Defi中的長期問題 - 如何平衡具有成本效益的交易與保護提供流動性的人的需要。在傳統的AMM中，靜態費用通常會使LPS脆弱，尤其是在高波動率的時期，套利機器人可以迅速消耗流動性。

Moreover, lower trading fees usually translate to higher costs for LPs due to impermanent loss. This dynamic fee system aims to mitigate both issues by adjusting trading fees based on real-time market activity. During periods of low volatility, trading fees drop, encouraging higher trading volumes and improving the user experience.

此外，由於無常損失，較低的交易費用通常轉化為LP的較高成本。這種動態費用系統旨在通過基於實時市場活動調整交易費用來減輕這兩個問題。在低波動率，交易費用下降，鼓勵更高的交易量並改善用戶體驗時。

Which Trading Pairs Support It?

哪個交易對支持？

Currently, the Dynamic Fee Hook is enabled on a set of carefully chosen trading pairs using the 0.05% Concentrated Liquidity Automated Market Maker (CLAMM) model. These supported pairs include:

目前，使用0.05％集中流動性自動化市售商（CLAMM）模型在一組精心選擇的交易對上啟用了動態費用掛鉤。這些支持的對包括：

These pairs were selected due to their high liquidity and relevance to PancakeSwap’s broader trading environment. The presence of multiple CAKE-based pairs also signals an intention to strengthen internal token dynamics while testing fee sensitivity across different asset types.

這些對因流動性高而與Pancakeswap更廣泛的貿易環境相關，因此選擇了這些對。多個基於蛋糕的配對的存在也表示有意增強內部令牌動態，同時測試不同資產類型的費用敏感性。

A Core Feature of the Infinity Upgrade

無限升級的核心功能

The Dynamic Fee Hook is just one part of the wider PancakeMapleswap Infinity upgrade. Infinity, which replaces v4, brings a more modular, gas-efficient, and customizable trading framework to the platform. At the core of Infinity is a system of Hooks — programmable extensions that allow developers and DAOs to customize pool behavior.

動態費只是更寬的PancakeMaplesWap Infinity升級的一部分。無窮大，取代V4，將更模塊化，氣體效率和可定制的交易框架帶到了平台。 Infinity的核心是一個掛鉤系統 - 可編程擴展程序，使開發人員和Daos可以自定義池行為。

Key features of the Infinity upgrade include:

無限升級的主要功能包括：

* A modular architecture that allows for rapid integration of new features and tokens.

*一個模塊化體系結構，可以快速整合新功能和令牌。

* A new Concentrated Liquidity AMM model for efficient capital utilization.

*一種新的集中流動性AMM模型，用於有效的資本利用。

* Advanced security measures to protect user funds.

*高級安全措施以保護用戶資金。

* A customizable framework that enables developers to build unique trading products.

*一個可自定義的框架，使開發人員能夠構建獨特的交易產品。

These improvements aim to make PancakeSwap more adaptable, cost-effective, and developer-friendly — a critical move as the DeFi space continues to mature.

這些改進旨在使PancakesWap更適應能力，具有成本效益和開發人員友好，這是隨著Defi空間的繼續成熟而這是關鍵的舉動。

Why This Matters to DeFi

為什麼這對Defi很重要

The introduction of the Dynamic Fee Hook addresses a critical issue in DeFi: how to create fair, automated systems that work for all participants. Traditional AMMs with static fees often expose LPs to risks without offering adequate compensation.

動態費用鉤的引入解決了DEFI中的一個關鍵問題：如何創建為所有參與者使用的公平自動化系統。具有靜態費用的傳統AMM通常會使LP面臨風險，而無需提供足夠的賠償。

Meanwhile, arbitrage bots often exploit low fees during periods of volatility, which can negatively impact liquidity and lead to skewed market behavior.

同時，套利機器人通常會在波動期間利用低費用，這會對流動性產生負面影響並導致市場行為偏斜。

By using real-time data to adjust fees, PancakeSwap helps level the playing field. LPs are better protected, users enjoy fairer trading conditions, and the protocol becomes more resistant to manipulation.

通過使用實時數據調整費用，PancakesWap有助於平衡競爭環境。 LP受到更好的保護，用戶享有更公平的交易條件，並且協議變得更加抵抗操縱。

This innovation could set a precedent for other decentralized exchanges looking to improve fee flexibility and long-term sustainability. As DeFi becomes more complex, tools like the Dynamic Fee Hook could become essential in building systems that truly adapt to market behavior.

這項創新可能為其他分散的交易所提供了先例，希望提高費用靈活性和長期可持續性。隨著DEFI變得越來越複雜，諸如動態費用掛鉤之類的工具對於構建真正適應市場行為的系統可能至關重要。