PancakeSwap Launches LP Rewards on Base Network

By: crypto insight|2025/12/26 18:30:14

Key Takeaways

PancakeSwap has introduced liquidity provider (LP) rewards for 12 v3 pools on the Base network, facilitated through Brevis Incentra.
The Base network, an Ethereum Layer 2 solution developed by Coinbase, offers seamless integration with Coinbase’s extensive user base and assets.
Liquidity providers on PancakeSwap can earn additional rewards, enhancing the appeal of providing liquidity to these pools.
Concentrated liquidity in PancakeSwap v3 allows for efficient capital use, enabling more effective trading fee generation.

WEEX Crypto News, 26 December 2025

In an exciting development for the decentralized finance (DeFi) community, PancakeSwap, a prominent decentralized exchange operating on Binance Smart Chain, has officially announced the launch of LP rewards for its v3 pools on the Base network. This innovative move involves cooperation with Brevis Incentra and is poised to significantly boost the incentives for providing liquidity on the platform.

Enhanced Earning Opportunities on PancakeSwap

PancakeSwap’s integration with the Base network offers liquidity providers new opportunities to earn rewards. The Base network, created by Coinbase, serves as an Ethereum Layer 2 chain, promising faster and cheaper transactions than the Ethereum main chain. Users on this network can now engage with PancakeSwap’s newly introduced v3 pools, which are structured to maximize liquidity provision benefits.

The v3 pools on PancakeSwap, built to concentrate liquidity within specific price ranges, allow providers like Claire to deposit less capital while still reaping substantial rewards. This setup is strategic, as it enables providers to generate fee income from active trading, provided the asset prices stay within predetermined ranges. For instance, if CAKE remains between 2 to 12.5 USDT, liquidity providers can earn consistent trading fees.

Moreover, the rewards mechanism via Brevis Incentra allows LPs to maximize their yield by earning OP rewards alongside transaction fees. This dual earning potential underscores the value proposition of participating in PancakeSwap’s liquidity pools, particularly those now available on the Base network.

Understanding the Base Network

The Base network, incubated by Coinbase, is significant as it represents a new chapter in Ethereum’s layer 2 scaling solutions. Designed to offer developers and dApp users a seamless experience, Base integrates tightly with Coinbase’s services. This ensures that over 100 million users have access to this network, which could drive substantial traffic and transactions to PancakeSwap’s pools, increasing the potential rewards for liquidity providers.

Base’s design principles emphasize scalability and user experience, making it an attractive platform for implementing DeFi projects. Such characteristics are pivotal as they contribute to an enhanced and efficient trading environment, which is a crucial factor for exchanges like PancakeSwap that require high transaction throughput.

-- Price

The Mechanics of V3 Pools and Concentrated Liquidity

The evolution of PancakeSwap’s liquidity pools into a v3 version marks a step forward in liquidity management. Unlike traditional pools, v3 pools leverage the concept of concentrated liquidity. This advancement allows liquidity providers to specify price ranges, concentrating their capital within these windows rather than spreading it across a broad spectrum. This concentration not only reduces the capital requirement but, as evident from recent implementations, increases efficiency and potential returns.

Providers, by setting narrower price ranges (for example, within ±10% of the current market rate), can boost their earnings potential despite fewer funds being committed initially. This technique contrasts sharply with v2 pool structures, where a broader price range necessitated more capital for the same liquidity effect.

Such advancements clearly benefit liquidity providers who can leverage market volatility within their chosen price ranges without forfeiting trading fee opportunities. This dynamic and potentially lucrative model reflects PancakeSwap’s commitment to staying at the forefront of DeFi innovation.

Looking Ahead

As the DeFi space continues to mature, PancakeSwap’s strategic steps, like integrating with the Base network and enhancing reward mechanisms through concentrated liquidity, position it for sustained relevance and growth. By addressing both the efficiency of capital use and the attractiveness of liquidity provision, PancakeSwap is not only enhancing its own ecosystem but also contributing to the wider DeFi landscape. For participants, particularly those in the growing PancakeSwap community, these changes present both opportunities and incentives to remain engaged and proactive.

We are eager to witness how the market reacts to these developments and the subsequent impact they may have on the DeFi sector. Liquidity providers are primed to benefit considerably from these innovations, cementing PancakeSwap’s role as a pivotal player in the decentralized exchange arena.

[Join WEEX and explore cutting-edge trading opportunities today! Sign up here.](https://www.weex.com/register?vipCode=vrmi)

FAQ

What are the new v3 pools launched by PancakeSwap?

PancakeSwap has introduced 12 new v3 liquidity pools on the Base network, enhancing the incentive structure for liquidity providers.

What is the purpose of the Base network?

The Base network is an Ethereum Layer 2 solution designed by Coinbase for efficient scaling, offering faster and lower-cost transactions compared to Ethereum’s main network.

How does concentrated liquidity work in PancakeSwap v3 pools?

Concentrated liquidity in PancakeSwap allows providers to specify a price range for their assets, enabling them to use less capital while still earning significant trading fees.

What are the benefits of providing liquidity on PancakeSwap’s v3 pools?

Providers can earn transaction fees and additional rewards, such as OP via Brevis Incentra, increasing the attractiveness of participating in v3 liquidity pools.

How does the integration with the Base network benefit PancakeSwap users?

Integration with Base enhances transaction efficiency and broadens access to PancakeSwap’s pools, benefiting from Coinbase’s extensive user base and asset integration.

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

The US AI Startup Is Loving China's Open Source Model

80% of US AI Startups Are Using Chinese Open Source Models

Three Weeks of the US-Iran War: Who's Making Money, Who's Paying the Bill?

Global Losing 10 Million Barrels of Oil Each Day, Russia Earns Over $800 Million in Just Over Two Weeks

Interpreting Polymarket's Major Update Last Night: Fee Expansion, Self-Regulation, and New Incentives

Although there is no information about a token airdrop, the overall community sentiment is optimistic. The real good news is to rhythmically control the positive promotion.

From Human Application to Intelligent Collaboration: How GOAT Network Builds the Next Generation Digital Economy

Embracing the Era of Super Individuals: GOAT Network launches Bitcoin-secured Layer 2 exclusive infrastructure, fully empowering AI entities to usher in a new era of fully automated digital economy.

CZ Washington Dialogue: Crypto Entrepreneurs are Accelerating Their Return to the United States

CZ connects with the DC Blockchain Summit: The prison memoir is about to be published, harshly criticizing the inaccuracies of traditional media reports, and pointing out that if the U.S. wants to become the "global crypto capital," it urgently needs to introduce more sufficient market competition t...