PancakeSwap launches on the Linea mainnet, Consensys’s Ethereum Layer 2 scaling solution
Leading decentralized exchange protocol, PancakeSwap, has broadened its horizons by launching on the Linea mainnet. This move places PancakeSwap on Consensys’s Ethereum Layer 2 scaling solution and marks another milestone in its quest for multichain expansion.
PancakeSwap highlighted the advantages of joining Linea: users can anticipate reduced gas fees, swifter transactions, and better capital optimization.
Linea operates as an Ethereum Layer 2 solution, efficiently handling transactions on its network and then consolidating them on the Ethereum main chain. This approach substantially quickens transaction speeds and slashes associated fees. Distinguishing itself as a zero-knowledge rollup network, Linea’s mainnet saw its inauguration this past July.
On the Linea platform, PancakeSwap users will benefit from its core features like swap and liquidity provisioning. In the decentralized finance (DeFi) realm, “swap” pertains to trading one token type for another, while “liquidity provisioning” is the process of contributing funds to a pool, enabling smoother trading and yielding rewards.
Looking ahead, the DeFi community eagerly anticipates the integration of PancakeSwap’s farming feature on Linea, expected in the upcoming months. This functionality permits users to stake their liquidity provider tokens, thereby earning PancakeSwap’s native token, CAKE, all the while maintaining their position in the liquidity provider tokens. Additionally, there’s palpable excitement around the forthcoming launch of PancakeSwap’s initial farm offering (IFO) platform on Linea, which promises users early access to novel tokens.
The collaboration between PancakeSwap and Linea isn’t new. They teamed up in June, with PancakeSwap playing a pivotal role as a testnet ecosystem collaborator.
PancakeSwap’s Multichain Journey
Linea is the seventh in a growing list of blockchains that PancakeSwap has ventured into, with a pronounced focus on Ethereum scaling networks. Originally emerging from the BNB Chain, PancakeSwap has extended its reach to include platforms like Ethereum, Aptos, Polygon zkEVM, zkSync Era, and Arbitrum One.
Launched in 2020, PancakeSwap’s rapid rise has cemented its place as the second-leading decentralized exchange protocol, tailing only Uniswap as per The Block’s Data Dashboard. Interestingly, Uniswap is yet to venture into Linea. As of now, it operates on blockchains like Polygon, Optimism, Arbitrum, and Base.
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