PancakeSwap DEX Officially Launches on Polygon zkEVM
Decentralized exchange (DEX) PancakeSwap has officially integrated with the Polygon zkEVM blockchain, marking its fourth integration after BNB Chain, Ethereum, and Aptos.
PancakeSwap Launches on Polygon zkEVM
According to an announcement made on the evening of 29/06, PancakeSwap has been deployed on Polygon zkEVM. This integration is part of the DEX's expansion plan to attract more users and generate additional revenue for the protocol.
🤝 PancakeSwap is now LIVE on @0xPolygonDeFi zkEVM, unlocking a new era of Multichain DeFi
— PancakeSwap v4 (@PancakeSwap) June 29, 2023
🐰 Experience the most efficient and user-friendly DEX with fees as low as 0.01%
💜Join us on this journey today: https://t.co/F7SERgzZa4
📚 Learn more here: https://t.co/Q82SWiPIu6 pic.twitter.com/GoHuaoOPBj
Integrating with the Polygon zkEVM network will enable PancakeSwap users to experience faster transaction speeds and lower fees.
Currently, PancakeSwap is integrated with four blockchains: BNB Chain, Ethereum, Aptos, and now Polygon zkEVM. The DEX dominates the market on BNB Chain with a Total Value Locked (TVL) of $1.48 billion, while the project has a total TVL of $1.55 billion across all chains, according to DefiLlama data.
Benefits for Users
PancakeSwap users can trade with fees as low as 0.01%—one of the lowest among DEXs. In early April this year, PancakeSwap launched version 3, allowing users to choose from four fee tiers and introducing several important improvements.
Market Impact
Following the announcement of the Polygon zkEVM integration, the project's token CAKE saw an approximate 5% increase, currently trading around $1.5.
