PancakeSwap, a decentralized trade (DEX), is launching on Base, an Ethereum(ETH) layer 2 scaling community incubated by Coinbase, in accordance with an replace on Aug. 30.
Initially, this integration will supply PancakeSwap’s swapping and liquidity provision capabilities. Following that, an upcoming launch will introduce the farming function, allowing customers to stake liquidity supplier (LP) tokens in trade for PancakeSwap’s native CAKE tokens. Importantly, customers will retain their positions within the unique LP tokens.
Base is now PancakeSwap’s eighth platform, highlighting the DEX’s multi-chain technique.
Whereas initially established on BNB Chain, the DEX has deployed on a number of blockchains, together with Ethereum, Aptos (APT), Polygon (MATIC) zkEVM, and others.
Developed by way of a collaboration between OP Stack and Optimism(OP), Base seeks to deal with crucial points confronted by crypto customers, equivalent to steep gasoline charges and sluggish transaction speeds.
The layer-2 additionally goals to scale back charges and allow swift transactions.
After launching to the general public on Aug. 9, Base has quickly grown, trailing Arbitrum however surpassing Optimism in day by day transactions. At this tempo, PancakeSwap is the second-largest DEX after Uniswap.
Recent knowledge reveals that Base has over $300 million in complete worth locked (TVL) since launching in early August 2023.