PancakeSwap v3 launches on Ethereum layer 2 Linea

PancakeSwap v3, a well-liked multi-chain DeFi alternate, introduced its launch on the Ethereum layer 2 community Linea on Aug. 24.

The alternate’s deployment on Linea introduces two new options. The primary is improved capital effectivity, which is able to enable liquidity suppliers to focus their capital inside particular value ranges the place most buying and selling happens. This function is meant to assist members improve their earnings. PancakeSwap claims that liquidity suppliers can obtain a capital multiplier as much as 4000 instances higher on v3 than v2.

The second function that Linea will facilitate is enhanced buying and selling options. PancakeSwap stated the launch will present multi-tier payment buildings, permitting merchants to entry low buying and selling charges. Payment tiers will vary from 0.01% to 1%, and customers will be capable of select a payment construction that’s finest for his or her buying and selling actions and liquidity pool of alternative.

PancakeSwap additionally marketed a promotional exercise referred to as “Traverse the Treasure Islands” and stated customers can earn rewards by collaborating 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 should partially distribute these rewards to stakeholders who stake its CAKE token and different venture contributors and group members. Nevertheless, it stated Linea has not introduced any such rewards.

Although in the present day’s announcement marks its mainnet launch, PancakeSwap famous that it beforehand deployed on Linea as a testnet ecosystem associate.

Initiatives populate DeFi ecosystem

Linea is a layer 2 community for Ethereum. Like most layer 2 networks, it intends to enhance transaction effectivity by rising transaction speeds and decreasing charges. The platform is developed by ConsenSys and was previously often called ConsenSys zkEVM.

PancakeSwap itself is obtainable on a number of totally different blockchain networks. The venture originated on Binance Good Chain (now often called BNB Chain). Different supported networks embody Ethereum, Aptos, Polygon zkEVM, zkSync Period, and Arbitrum. PancakeSwap v3 went stay on BNB Chain and Ethereum in April 2023.

PancakeSwap is presently the thirteenth largest DeFi platform by whole 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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