- PancakeSwap launches on Polygon zkEVM, its fourth blockchain integration.
- The move promises users lower fees and faster transactions.
- PancakeSwap aims to expand its user base and boost protocol revenues.
PancakeSwap, the popular decentralized exchange (DEX), has launched on the Polygon zkEVM blockchain in an exciting move for the crypto universe. This marks PancakeSwap’s fourth integration, following successful launches on the BNB Chain, Ethereum, and Aptos.
Consequently, as announced by its developer, Chef Cocoa, the platform is forging ahead with its expansion plans to bolster its user base and protocol revenues.
Known for its reliance on smart contracts instead of intermediaries, PancakeSwap has offered trading, lending, and lottery services on the blockchains mentioned above. According to DefiLlama, the platform currently holds over $1.54 billion worth of tokens.
zkEVM: A Game-Changer for Users
Moroever, it is worth noting that this new deployment has the potential to greatly impact users. In what ways you may ask? Polygon’s zkEVM offers lower fees and faster transactions, a much-coveted feature by crypto enthusiasts. For the uninitiated, zkEVM is a privacy-centric, layer 2 blockchain that operates over the original Polygon blockchain.
Additionally, it’s worth mentioning that PancakeSwap already offers some of the lowest fees in the DEX realm, with users enjoying rates as low as 0.01%. Hence, the integration with Polygon zkEVM, which has attracted over $28 million in total value locked (TVL) since its beta mainnet launch in March, represents a significant milestone.
In conclusion, PancakeSwap’s move to launch on Polygon zkEVM is not only a strategic plan to increase user adoption but also a move to increase protocol revenues. It reaffirms the project’s commitment to providing users with more affordable and faster transactions, significantly boosting the platform’s appeal. Therefore, all eyes are on PancakeSwap as it navigates this next chapter.
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Source: https://thenewscrypto.com/pancakeswap-expands-reach-with-polygon-zkevm-integration/