PancakeSwap’s Integration with ZkSync Era: A New Wave in Smart Contract Development
PancakeSwap, one of the leading decentralized exchanges, has recently announced its integration with ZkSync Era network for its V3. This integration signifies a new wave in the evolution of smart contract development through ZK-rollups. Here are the key points to note:
1. Benefits of the Integration:
– ZkSync Era, an Ethereum Layer 2 network, is known for its rapid expansion and unique benefits.
– PancakeSwap is likely to capitalize on the growing demand for ZkSync Era, leading to increased demand and utility over time.
2. Past Performance of PancakeSwap V3:
– The lowest volume in the last four weeks was $79.73 million on July 23, with 110,100 transactions and 53,800 unique new wallets (UAWs).
– The highest volume was $417.81 million on June 30, with 129,440 transactions and over 64,000 UAWs.
– The native token of PancakeSwap, CAKE, has shown sideways activity.
3. PancakeSwap’s Growing Role in Ethereum’s Layer 2 Ecosystem:
– PancakeSwap’s launch on zkSync Era solidifies its role within the Layer 2 ecosystem.
– The platform currently supports swaps and liquidity providing (LP), with yield farming and LP token staking expected soon.
– Initial Farm Offerings will be launched to facilitate liquidity from yield farmers.
4. BNB Chain Still Dominant:
– BNB Chain accounts for 83% of V3’s total value locked (TVL).
– PancakeSwap V3 is the fourth-most popular decentralized exchange, with $64.4M worth of trades executed on its BNB Chain in the past 24 hours.
In conclusion, the integration of PancakeSwap with ZkSync Era marks a significant shift in the DeFi landscape, ushering in a more scalable and efficient network for users and investors.
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