pancakeswap引入动态费用挂钩，作为其无限升级的一部分

BNB连锁店上最知名的分散交流之一Pancakeswap引入了动态费用挂钩，作为其无限升级的一部分 - Pancakeswap V4的继任者。

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连锁店上最知名的分散交流之一Pancakeswap引入了动态费用挂钩，作为其无限升级的一部分 - Pancakeswap V4的继任者。此功能旨在通过实时响应不断变化的市场状况来增强平台的费用结构。

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现在使用一个动态适应市场波动的系统，而不是固定的交易费用。在低波动率和高交易量，交易费用下降期间，使用户执行交易并鼓励更多参与的时期更便宜。

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，在高波动率期间，费用会自动增加。这是对套利机器人的威慑作用，并降低了短期价格操纵的风险。同时，它奖励在不稳定的市场环境中面临更大风险的唱片。这种智能费用模型可确保更加平衡和弹性的交易生态系统。

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.

这种动态方法解决了Defi中的长期问题 - 如何平衡具有成本效益的交易与保护提供流动性的人的需要。在传统的AMM中，静态费用通常会使LPS脆弱，尤其是在高波动率的时期，套利机器人可以迅速消耗流动性。

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，由于无常损失，较低的交易费用通常转化为LP的较高成本。这种动态费用系统旨在通过基于实时市场活动调整交易费用来减轻这两个问题。在低波动率，交易费用下降，鼓励更高的交易量并改善用户体验时。

Which Trading Pairs Support It?

哪个交易对支持？

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％集中流动性自动化市售商（CLAMM）模型在一组精心选择的交易对上启用了动态费用挂钩。这些支持的对包括：

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.

这些对因流动性高而与Pancakeswap更广泛的贸易环境相关，因此选择了这些对。多个基于蛋糕的配对的存在也表示有意增强内部令牌动态，同时测试不同资产类型的费用敏感性。

A Core Feature of the Infinity Upgrade

无限升级的核心功能

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.

动态费只是更宽的PancakeMaplesWap Infinity升级的一部分。无穷大，取代V4，将更模块化，气体效率和可定制的交易框架带到了平台。 Infinity的核心是一个挂钩系统 - 可编程扩展程序，使开发人员和Daos可以自定义池行为。

Key features of the Infinity upgrade include:

无限升级的主要功能包括：

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

*一个模块化体系结构，可以快速整合新功能和令牌。

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

*一种新的集中流动性AMM模型，用于有效的资本利用。

* Advanced security measures to protect user funds.

*高级安全措施以保护用户资金。

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

*一个可自定义的框架，使开发人员能够构建独特的交易产品。

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

这些改进旨在使PancakesWap更适应能力，具有成本效益和开发人员友好，这是随着Defi空间的继续成熟而这是关键的举动。

Why This Matters to DeFi

为什么这对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.

动态费用钩的引入解决了DEFI中的一个关键问题：如何创建为所有参与者使用的公平自动化系统。具有静态费用的传统AMM通常会使LP面临风险，而无需提供足够的赔偿。

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

同时，套利机器人通常会在波动期间利用低费用，这会对流动性产生负面影响并导致市场行为偏斜。

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.

通过使用实时数据调整费用，PancakesWap有助于平衡竞争环境。 LP受到更好的保护，用户享有更公平的交易条件，并且协议变得更加抵抗操纵。

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.

这项创新可能为其他分散的交易所提供了先例，希望提高费用灵活性和长期可持续性。随着DEFI变得越来越复杂，诸如动态费用挂钩之类的工具对于构建真正适应市场行为的系统可能至关重要。