PancakeSwap has big ambitions, such as establishing itself on the decentralized exchange market. The DEX also aims to become a multi-chain protocol, to bring value to its token CAKE. A new step towards this ambition could soon be taken.
After Ethereum, PancakeSwap heads for Aptos
The developers of the decentralized exchange (DEX) PancakeSwap are considering to deploy it on the Aptos blockchain, launched on October 12. The objective is to position itself in new crypto markets and to conquer market share.
This project from DEX comes nearly three weeks after the successful deployment of PancakeSwap on the Ethereum blockchain. Assuming the community supports the idea, the rollout will happen in the last quarter of this year. Apart from the provision of services of swapsof farming and of poolsPancakeSwap plans to create a native version of its token CAKE on Aptos. It will be the first token created on another blockchain.
This new deployment to a new blockchain fits perfectly with PancakeSwap’s ambition to do multi-chain mining. The interaction with multiple blockchains aims to increase the revenue of the protocol and propel it into the hot list. Another goal is to bring users from these chains back to the BNB blockchain.
The Aptos ecosystem provides high transaction throughput, with relatively low fees. Its management is based on an optimized approach where developers constantly make improvements to the network. You should know that the majority of tokens on the network are in the hands of the foundation, the developers, the main investors and a community pool largely under the control of the foundation. The rest is up to the users.
Initially, PancakeSwap is based on the Binance blockchain. As a reminder, it is the second largest decentralized exchange in terms of trading volume, according to DeFiLlama. It sits like this behind Uniswap. In terms of total value stored, PancakeSwap ranks third, following Curve and Uniswap.
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