BNB

PancakeSwap v3 Launches on BNB Chain’s Layer2 Network, opBNB

by BSC News

September 28, 2023

chain

The launch of PancakeSwap v3 on opBNB promises users enhanced transaction speeds, reduced fees, and an overall improved trading experience.

On September 28, PancakeSwap Decentralized Exchange (DEX) announced the launch of PancakeSwap v3 on BNB Chain’s Layer2 network, opBNB. The announcement was made official through a post on its official X account and shared details via its blog

According to the protocol’s blog, the new PancakeSwap v3 on opBNB promises traders and liquidity providers a host of benefits. These include the opportunity to trade with reduced fees, enjoy increased returns, and experience enhanced capital efficiency. Further, the Layer2 network ensures these advantages are delivered with high throughput and minimal gas fees. 

opBNB, which powers this new integration, is built on the bedrock version of Optimism’s OP stack. It stands out as a swift Layer2 solution within the BNB Chain ecosystem.

Addressing the Layer1 Limitations

One of the significant challenges with numerous Layer1 blockchains has been handling high transaction volumes. With the introduction of opBNB on PancakeSwap, this issue is addressed. 

The opBNB network boasts the capacity to handle over 4,000 Transactions Per Second (TPS). Additionally, it offers a minimal gas fee, which can go as low as $0.005. This ensures improved throughput and scalability for users.

In the words of the DEX, “PancakeSwap on opBNB offers a scalable solution; the opBNB network accommodates over 4,000 TPS and reduces gas fees to under $0.005 for transfers. Users enjoy improved throughput without sacrificing decentralization by offloading processing to Layer 2 while posting data to BNB Smart Chain.”

Expanding the DeFi Space

This recent integration marks opBNB as the sixth Layer2 network to be deployed on PancakeSwap v3. This expansion provides users with a broader range of options in the Decentralized Finance (DeFi) space.

Chef Mochi, the Head Chef of PancakeSwap, shared insights on this development, stating that the integration showcases the DEX’s dedication to promoting widespread adoption and empowering users in the cryptocurrency arena. 

“By joining forces with the opBNB, PancakeSwap is pleased to bring users more accessibility and functionality than ever before. Our decision to launch on opBNB reflects our continued commitment to driving mass adoption of DeFi, empowering users, and fostering a vibrant DeFi community,” Mochi said. 

The launch of PancakeSwap v3 on opBNB is a significant step forward in the DeFi space, promising users enhanced transaction speeds, reduced fees, and an overall improved trading experience. 

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