BlockBeats News, May 15th, PancakeSwap announced a major upgrade to its Perpetual Futures contract product, fully replacing the previous LP-based liquidity pool trading model with a full order book architecture to enhance capital efficiency, price discovery, and trade execution quality.

In this upgrade, the platform introduced a Simple Mode, allowing users to open and close positions with a "one-click operation," without the need to set margin modes, order types, or complex trading parameters, significantly reducing the barrier to entry for perpetual contract trading and optimizing the experience for novice users.

At the same time, PancakeSwap retained the Pro Mode for professional trading, supporting cross/isolated margin, multi-asset collateral, advanced order types such as limit/market/stop-loss/take-profit, providing a full order book depth view, and position management functions to meet the needs of high-frequency and professional traders.

The new system supports up to 200x leverage (for BTC and major trading pairs) and extends support to multiple collateral assets, including BNB, USDT, BTC, ETH, and various derivative assets. Furthermore, spot and derivative assets are unified into the same wallet system, allowing users to trade without the need for cross-chain transactions or separate accounts.

The official statement highlighted that the new Perpetuals system is supported by the Aster order book infrastructure, aiming to provide a trading experience close to that of centralized exchanges (CEX) while maintaining on-chain transparency and a non-custodial trading structure.