PancakeSwap v3, a preferred multi-chain DeFi change, introduced its launch on the Ethereum layer 2 community Linea on Aug. 24.
The change’s deployment on Linea introduces two new options. The primary is improved capital effectivity, which is able to permit liquidity suppliers to focus their capital inside particular worth ranges the place most buying and selling happens. This characteristic is meant to assist contributors improve their earnings. PancakeSwap claims that liquidity suppliers can obtain a capital multiplier as much as 4000 occasions higher on v3 than v2.
The second characteristic that Linea will facilitate is enhanced buying and selling options. PancakeSwap stated the launch will present multi-tier payment constructions, permitting merchants to entry low buying and selling charges. Price tiers will vary from 0.01% to 1%, and customers will be capable to select a payment construction that’s greatest for his or her buying and selling actions and liquidity pool of selection.
PancakeSwap additionally marketed a promotional exercise known as “Traverse the Treasure Islands” and stated customers can earn rewards by taking part in actions. This marketing campaign presents a possibility to earn loyalty factors and acquire entry to commemorative NFTs, additional indicating the platform’s engagement with its group.
PancakeSwap added that if it receives Linea incentives, it’ll partially distribute these rewards to stakeholders who stake its CAKE token and different mission contributors and group members. Nonetheless, it stated Linea has not introduced any such rewards.
Although at present’s announcement marks its mainnet launch, PancakeSwap famous that it beforehand deployed on Linea as a testnet ecosystem accomplice.
Initiatives populate DeFi ecosystem
Linea is a layer 2 community for Ethereum. Like most layer 2 networks, it intends to enhance transaction effectivity by growing transaction speeds and decreasing charges. The platform is developed by ConsenSys and was previously often known as ConsenSys zkEVM.
PancakeSwap itself is on the market on a number of completely different blockchain networks. The mission originated on Binance Good Chain (now often known as BNB Chain). Different supported networks embody Ethereum, Aptos, Polygon zkEVM, zkSync Period, and Arbitrum. PancakeSwap v3 went dwell on BNB Chain and Ethereum in April 2023.
PancakeSwap is at the moment the thirteenth largest DeFi platform by complete worth locked (TVL), with $1.4 billion of crypto locked by customers at current. Its native token (CAKE) is among the many 130 largest cryptocurrencies and has a market cap of $273 million.
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