PancakeSwap launches on Ethereum layer-2 answer, Base

Crypto.information – PancakeSwap, a decentralized trade (DEX), is launching on Base, an (ETH) layer 2 scaling community incubated by Coinbase (NASDAQ:), in response to an replace on Aug. 30.

Initially, this integration will provide PancakeSwap’s swapping and liquidity provision capabilities. Following that, an upcoming launch will introduce the farming characteristic, allowing customers to stake liquidity supplier (LP) tokens in trade for PancakeSwap’s native CAKE tokens. Importantly, customers will retain their positions within the unique LP tokens.

Base is now PancakeSwap’s eighth platform, highlighting the DEX’s multi-chain technique.

Whereas initially established on BNB Chain, the DEX has deployed on a number of blockchains, together with Ethereum, Aptos (APT), Polygon (MATIC) zkEVM, and others.

Developed by a collaboration between OP Stack and Optimism(OP), Base seeks to handle important points confronted by crypto customers, comparable to steep gasoline charges and sluggish transaction speeds.

The layer-2 additionally goals to scale back charges and allow swift transactions.

After launching to the general public on Aug. 9, Base has quickly grown, trailing Arbitrum however surpassing Optimism in each day transactions. At this tempo, PancakeSwap is the second-largest DEX after .

Knowledge from The Block

Recent information exhibits that Base has over $300 million in complete worth locked (TVL) since launching in early August 2023.

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