Panov Transfer

The Panov Transfer arises when White answers the Modern Variation, 2...Nf6, by defending the extra pawn with 3. c4. Rather than recover the pawn by force, Black undermines the d5 pawn with 3...c6, much as in a Caro-Kann, and the name reflects where the line usually leads. After 4. d4 cxd5, the game becomes a Panov-Botvinnik Attack from the Caro-Kann, with White typically getting an isolated queen's pawn or a c4-d4 pawn pair against Black's piece activity. 4. Nc3 can also transpose to that position. Because the Panov-Botvinnik was once thought to favor White, 3. c4 used to be the usual choice of strong players, but it has lost ground as that assessment shifted toward equality and as 3. d4 and the Icelandic-Palme Gambit, 3...e6, gained popularity.

The most frequent reply in online games is 4. dxc6, keeping a pawn after 4...Nxc6. The capture speeds Black's development, and Black is considered to have full compensation; Black scores well in this line. White's results are better after 4. d4. Engines rate the position as roughly balanced.