PancakeSwap Expands to Ethereum Layer-2 Network Base
PancakeSwap, the leading decentralized exchange on BNB Chain, is expanding to the Ethereum layer-2 network Base. This move is part of PancakeSwap’s multi-chain expansion strategy. Currently, most of PancakeSwap’s liquidity sits on the BNB Chain. However, by joining Base, PancakeSwap aims to bring more accessibility and functionality to its users.
Key Points:
– PancakeSwap is expanding to the Coinbase-incubated Ethereum layer-2 network Base.
– The exchange is also live on four other Ethereum rollups: Polygonโs zkEVM, zkSync Era, Arbitrum, and Linea.
– PancakeSwap’s total liquidity of $1.37 billion is mostly on the BNB Chain.
– PancakeSwap aims to leverage Coinbase’s ecosystem for mainstream crypto adoption and a more inclusive DeFi landscape.
– The DEX landscape on Base includes Uniswap, SushiSwap, 1inch, and the newly launched Aerodrome.
Aerodrome, launched by the Velodrome team on Optimism, has gained popularity on the Base network due to the introduction of liquidity mining for its native governance token, AERO. The rise in user activity on the Ethereum layer-2 network was driven by social media app Friend.tech. However, with a decrease in Friend.tech usage, the network activity has also subsided.
Hot Take
PancakeSwap’s expansion to Ethereum layer-2 network Base demonstrates its commitment to driving mass adoption of DeFi and providing users with more accessibility and functionality. By joining the likes of Uniswap, SushiSwap, and 1inch on Base, PancakeSwap is positioning itself as a key player in the decentralized exchange landscape. The rise and fall of user activity on Base, driven by the popularity of Aerodrome and Friend.tech, highlights the dynamic nature of the crypto industry.
Demian Crypter emerges as a true luminary in the cosmos of crypto analysis, research, and editorial prowess. With the precision of a watchmaker, Demian navigates the intricate mechanics of digital currencies, resonating harmoniously with curious minds across the spectrum. His innate ability to decode the most complex enigmas within the crypto tapestry seamlessly intertwines with his editorial artistry, transforming complexity into an eloquent symphony of understanding. Serving as both a guiding North Star for seasoned explorers and a radiant beacon for novices venturing into the crypto constellations, Demian’s insights forge a compass for informed decision-making amidst the ever-evolving landscapes of cryptocurrencies. With the craftsmanship of a wordsmith, they weave a narrative that enriches the vibrant tableau of the crypto universe.
