Giant Decentralized Exchange Offers To Open To Aptos Blockchain: Listed The Reasons!

The team behind decentralized exchange (DEX) PancakeSwap is the team that their exchange has just launched. To Aptos Blockchain He also offered to open it.

According to the proposal, the team plans to quickly embed four of its main features—trades, farms, pools, and initial farm offerings—on this blockchain.

PancakeSwap Wants To Become Dominant Decentralized Exchange On Aptos Blockchain

It is stated that their aim is to seize market share as early as possible in the hope of becoming the dominant exchange in this ecosystem.

This is also on Aptos CAKE It will also include the creation of a native version of the token, making it the first native CAKE token on another Blockchain. Assuming the community supports this idea, distribution will occur in Q4.

The PancakeSwap team listed why they wanted to open up to the Aptos Blockchain:

• Aptos is a next-generation layer 1 Blockchain with low transaction costs, high throughput and high transaction speeds, using a new and developer-optimized approach to parallel execution that brings with it many technical and user improvements.
• The Aptos team previously led the web3 work at Novi (Facebook/Meta’s Crypto Team) and cryptocurrency has deep experience in its products.
• Aptos has a vibrant developer ecosystem with a large number of protocols, most of which are suitable for PancakeSwap partnerships and products.
• PancakeSwap has developed a strong relationship with the Aptos team and is working directly with them to promote this DEX to various projects in the Aptos ecosystem and support the distribution of our various products, including helping with Chefs and Move code distribution.

Aptos Blockchain launched on October 12. It aims to provide a highly efficient blockchain with low transaction fees.

While the majority of tokens are owned by the foundation, the main developers and investors – as well as a community pool largely controlled by the foundation – there was a small airdrop to early adopters.

This move comes just weeks after PancakeSwap expanded to the Ethereum blockchain. The exchange announced on October 4 that the integration went live, and cross-chain farming (token farming on both chains) began a week later.

According to DeFiLlama, PancakeSwap, which originally started on BNB Chain, is the second largest decentralized exchange in the world by trading volume. It is behind Uniswap in the rankings. According to total value locked (TVL), PancakeSwap ranks third after Curve and Uniswap.

A PancakeSwap product manager known by the moniker Chef Mochi said at an “Ask Me Anything” event in July that the exchange’s focus is to go multi-chain to increase protocol revenue.

*Not investment advice.