PancakeSwap, a leading decentralized exchange (DEX) operating on the Binance Smart Chain (BSC), has expanded its presence to the zkSync Era blockchain.
PancakeSwap’s strategic move aims to enhance the user experience and boost protocol revenue. The DEX now operates across five different blockchains, making it more accessible to a broader audience.
The latest development, introduces token swap and liquidity provisioning features on the zkSync Era blockchain, with transaction fees set at 0.01% of the trading value. This move further solidifies PancakeSwap’s position as a prominent player in the decentralized finance (DeFi) space.
As part of its expansion plans, PancakeSwap is prepared to launch its farms feature, allowing users to stake their liquidity pool (LP) tokens and earn CAKE rewards while still maintaining a position in their LP tokens.
Staking liquidity pool (LP) tokens provides an opportunity for users to earn passive income, and actively participate in the growth of the platform.
PancakeSwap’s compatibility across multiple blockchains, including BNB Chain, Ethereum, Polygon zkEVM, Aptos, and zkSync Era, has contributed to its popularity and success.
According to DefiLlama data, the protocol currently holds over $1.57 billion worth of tokens.
The zkSync Era blockchain, introduced in March by developer Matter Labs, is an Ethereum Layer 2 solution compatible with the Ethereum Virtual Machine (EVM).
This enables seamless deployment of applications between zkSync Era and the Ethereum mainnet using the same code base, fostering interoperability and scalability.
With the integration of PancakeSwap into the zkSync Era, users can now benefit from lightning-fast transaction speeds and reduced gas fees, thanks to the cutting-edge zkRollup technology.
This opens up new possibilities for traders and developers seeking cost-effective and efficient solutions within the DeFi ecosystem.
The PancakeSwap team is enthusiastic about the launch of its v3 features on zkSync Era, which includes quick and cost-effective token swaps with a multi-tier fee structure ranging from 0.01% to 1%.
Additionally, liquidity providers can maximize their earnings by contributing to the thriving decentralized exchange ecosystem and enjoying impressive capital multipliers of up to 4000x.
