Kenya-based tech company switches to Pancakeswap, cites high gas charges on Uniswap – Altcoins Bitcoin News
In its attempt to help users avoid high gas fees on Uniswap, a Kenya-based fintech company UTU recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap. This launch allows potential buyers of UTU coins to acquire the token “with low fees and quick confirmation times”.
In one declaration Posted on the company’s blog, UTU, which wants to end anonymous ratings, reviews and scores as de facto trust mechanisms, says the move was made necessary by feedback received from users. The statement explains:
You have expressed your concerns about the high gasoline charges on Uniswap and the degree of barrier these charges represent for the purchase of UTU parts.
However, the release still warns users to be on the lookout for scams and fake cash pools. In addition, the statement also lists some of the steps that users need to take in order to purchase UTU tokens on Pancakeswap.
Meanwhile, the tech start-up reveals that up to $ 150,000 in seed money has been raised. Of this total, approximately $ 75,000 went to UTU and the other went to BNB. According to the company, the initial liquidity came from “our growth cycle budget, which is allocated to exchange lists, marketing and community growth, and the general expansion of the UTU ecosystem.”
What do you think of the launch of this liquidity pool? Let us know what you think in the comments section below.
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