Crypto: DEX PancakeSwap plans to migrate to Aptos (APT)

On the way to a new Eldorado – Pancake Swap is the iconic decentralized exchange platform of the BNB Smart Chain. In parallel with the launch of the Aptos blockchain, PancakeSwap is considering a migration.

PancakeSwap plans to migrate to Aptos

In 2020, faced with the significant congestion problems encountered by Ethereum (ETH), Binance Unveils BNB Smart Chain. Quickly, the CZ Smart Chain and its lower fees than Ethereum, attracted developers and users. From this enthusiasm was born a rich and diversified DeFi ecosystem.

Among the emblematic protocols of the BNB Smart Chain, we find the DEX Pancake Swap. Based on the code of SushiSwapthe platform then evolved to offer more services to its users.

Strong nearly $100 million in daily volumePancakeSwap ranks third among decentralized exchanges.

However, PancakeSwap now dreams of expansion. Thus, the protocol teams have published a governance proposal surprising to say the least.

“Today, we are delighted to present our first native multi-channel proposal, where CAKE will be relocated to another channel. The goal is to deploy PancakeSwap natively to Aptos! »

As a reminder, Aptos is a new layer 1 blockchain, whose mainnet was launched on October 18.

A first for PancakeSwap, which unlike many protocols, has not taken the path of multichain.

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Why Aptos?

Obviously, the PancakeSwap teams have provided explanations for their desire to join the Aptos ecosystem.

First, they address network performance. Indeed, Aptos should theoretically be able to process more than 100,000 transactions per second.

“Aptos is a new generation of L1 with low transaction costs, high transaction throughput and fast transaction speeds. It uses a new, developer-optimized approach to parallel execution. This brings a number of improvements both technically and for the end user. »

Secondly, PancakeSwap highlights theteam experience from Aptos, resulting in part from crypto projects led by Facebook. We then learn that a strong relationship has been forged between the teams of the two projects.

Eventually, PancakeSwap would roll out to Aptos in a minimal version. This would integrate the 4 main functionalities of the protocol, namely the swapsthem farmsthem pools and finally the I FO.

A decision that is up to the DAO

Obviously, the PancakeSwap protocol is governed by a DAO. Thus, it is now up to CAKE token holders to choose whether PancakeSwap will be deployed on the Aptos blockchain.

the vote will be open for a period of two days, starting from October 21 2 p.m. untilto October 23 14 hours.

For the moment, the vote is well underway. Indeed, the ” Yes won the vote with 96% of the votes.

Current result of the vote.

For its part, the unicorn of Uniswap, one of PancakeSwap’s main competitors, is also migrating to new channels. Thus, developers have developed a transpile allowing to deploy Uniswap on the Starknet network.

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We want to give thanks to the author of this short article for this outstanding content

Crypto: DEX PancakeSwap plans to migrate to Aptos (APT)


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