WEB3
by BSC News
July 27, 2023
Leading DEX, PancakeSwap, has expanded its offering to cover zkSync, bringing low fees and accessibility to the zkSync Era ecosystem
Announced via their official Twitter account on July 27, PancakeSwap, one of the largest decentralized exchanges in the industry, is now live on zkSync Era, an Ethereum layer-2 network aimed at delivering scalability via zero-knowledge rollups.
The aim of the launch is to both allow users of zkSync Era to benefit from PancakeSwap’s features, which include fees of as low as 0.01%, an accessible user-interface, and deep liquidity, whilst also benefiting from zkSync Era’s scalability potential.
zkSync is able to offer users and applications significantly reduced gas costs and transaction times, achieved via the network’s implementation of cutting-edge zero-knowledge rollup technology.
PancakeSwap’s support for zkSync will be further complimented by Farms, whereby users can stake their LP tokens in order to generate CAKE tokens, and Initial Farm Offerings (IFOs), which allow users to access new tokens as soon as they are added to the platform.
PancakeSwap is one of the most popular decentralized exchanges in the blockchain ecosystem. Launched in 2020, the DEX boasts $1.56 billion in locked liquidity, according to data from DefiLlama, and is the largest DeFi protocol on BNB Chain.
At all-time highs, PancakeSwap’s TVL reached nearly $22 billion, and its native token, CAKE, has a market capitalization of $314 million at time of writing, according to data from CoinMarketCap.
Latest News
1h : 12m ago
What is Maneki Memecoin?
3h : 12m ago
Tornado Cash Founder Found Guilty and Sentenced to 64 Months in Prison
May 13, 2024
Binance Labs New Investment: What is Zest Protocol?
May 13, 2024
Japan’s Metaplanet Adopts Bitcoin as Reserve Asset Amid Yen's Decline
May 11, 2024
Weekly Article Recap: 5/06-5/10
May 10, 2024
IMF Urges Nigeria to License Crypto Exchanges for Enhanced Regulation
May 10, 2024
Ethereum Network Activity Cools Off: Will $ETH’s Price Go Any Farther This Month?
May 10, 2024
Binance and KuCoin Eyes Return to India with FIU Registration