Pangolin V3 Review: Should You Use This DEX?

Pangolin V3 is a decentralized exchange (DEX) where you can swap tokens and add liquidity to trading pools. It is listed on Avalanche and Monad. The V3 design uses concentrated liquidity: liquidity providers choose a price range for their capital instead of spreading it across every possible price. This can make capital more efficient, but it also means a position may stop earning fees if the market price moves outside its chosen range.

The exchange also uses dynamic fees. That means the fee can vary rather than being one fixed rate for every pool or trade. For traders, the practical choice is to compare the pool’s fee and available liquidity before swapping. For liquidity providers, the choice is more involved: you need to understand the pool’s assets, fee conditions and price range, as well as the possibility of impermanent loss. Pangolin V3 is not a guaranteed-yield product; fee income depends on trading activity and your position.

Expect to account for both the pool’s trading fee and the network’s gas fee. Pangolin V3’s dynamic-fee model means you should not assume that one fee rate applies to every pool or stays unchanged. Check the fee shown for the specific pool and transaction before you approve a swap or add liquidity. Gas is paid on the network used for the transaction, and can vary with network conditions.

Pangolin V3 does not publish one overall fee schedule covering every pool and transaction. For a swap, compare the quoted output with the amount you expect to receive after fees and slippage. For liquidity, remember that fees earned depend on trading activity and your position remaining active in its price range; they are not guaranteed. You may also face costs when you later adjust or remove liquidity. Review each transaction in your wallet before signing, and do not rely on a displayed estimate if the final confirmation shows different terms.

Pangolin V3 is a DEX, not a conventional exchange account where a company holds your balance for you. You connect a wallet and authorize transactions; when you provide liquidity, the assets are managed through the exchange’s smart contracts. That avoids relying on a custodial account, but it does not remove the risk of bugs, exploits or losses from market movements.

No audits are listed for Pangolin V3, and the project does not publish a licence or detailed security disclosures in the information available about it. Treat that as a reason for caution, not proof that the contracts are unsafe. Start with an amount you can afford to lose, verify you are interacting with the intended app and token contracts, and avoid approving permissions you do not understand. A wallet signature is not a guarantee that a transaction is reversible; on-chain transactions are generally difficult or impossible to undo once confirmed.

To use Pangolin V3, you need a compatible crypto wallet and funds on a supported network. The listed networks are Avalanche and Monad, but check the app and wallet network selection before connecting or sending assets. A token with a familiar name or ticker is not enough to confirm it is the asset you intend to trade; verify its contract details independently.

After connecting, select a pool or token pair and review the trade quote, fees and slippage settings before signing. If you want to provide liquidity, read the pool details and understand how concentrated ranges work before choosing a position. The exact wallet options, any mobile-specific features, and transaction timing are not published here, so check what the app currently supports rather than assuming your wallet or preferred token is available. Begin with a small transaction if you are unfamiliar with the interface, and keep enough network currency aside to pay gas.

Pangolin V3’s main drawback is the amount you need to verify yourself. Dynamic fees mean costs can differ across pools, while concentrated liquidity makes providing liquidity more hands-on than depositing into a simple, range-wide pool. A position can earn less or stop earning fees when the market moves beyond its selected range, and trading fees do not necessarily offset impermanent loss.

The project has no audits listed, and details such as a licence, a clear fee schedule across pools, and KYC requirements are not published. That makes it harder to assess the service before connecting a wallet. A DEX may let you interact without opening a custodial account, but do not assume that means every use is free of restrictions or compliance checks. If you need established security disclosures, fixed pricing, customer support or an easy liquidity product, compare alternatives before committing funds. Never put essential savings into a pool or trade based on an assumption of guaranteed returns.