[EMBARGO 1:30 PM UTC]
Decentralized change (DEX) PancakeSwap has gone reside on Ethereum scaling community Arbitrum consistent with broader plans to broaden its person base and construct income, developer Chef Cocoa shared with CoinDesk at the moment.
Like all DEXs, PancakeSwap depends on good contracts as a substitute of middlemen to course of buying and selling, lending and lottery providers for customers. It was already on the BNB Chain, Ethereum, Polygon zkEVM, zkSync and Aptos blockchains.
The DEX held over $1.54 billion value of tokens as of Wednesday, DefiLlama information reveals.
Deployment on Arbitrum will present decrease charges and sooner transactions for PancakeSwap customers. Customers can at the moment commerce with charges of as little as 0.01%, one of many lowest amongst DEXs.
Arbitrum locks over $2 billion value of tokens and is among the many hottest layer 2 networks.
“PancakeSwap’s choice to launch on Arbitrum One displays its dedication to driving mass adoption of DeFi,” Chef Cocoa mentioned. “With the utmost scalability and cost-effectiveness, PancakeSwap goals to draw a wider viewers to the change and facilitate broader participation within the DeFi ecosystem.”
PancakeSwap’s native token cake (CAKE) is little modified over the previous 24 hours and trades at $1.50 as of European afternoon hours, CoinGecko information reveals.
