PancakeSwap Officially Launches on Arbitrum One

The decentralized exchange (DEX) PancakeSwap has officially expanded its operations to Arbitrum One, marking the sixth blockchain integration following zkSync Era in July 2023.

Key Integration:

• Announcement: On the evening of 10/08/2023, PancakeSwap announced its successful deployment on Arbitrum One, a leading Ethereum Layer 2 solution.
• Strategic Vision: This integration aligns with PancakeSwap’s multichain strategy to reach a broader user base and generate additional revenue.

Benefits of Arbitrum Integration:

• Layer 2 Advantages: Arbitrum One processes transactions on its network before sending them back to the main Ethereum network, offering lower gas fees, faster transaction speeds, and an overall improved trading experience.
• User Benefits: The integration provides users with several advantages, including reduced gas fees, quicker transaction processing, and a smoother trading experience.

Deployment Plan on Arbitrum One:

• Initial Phase: Offering Swap and Liquidity Provision features.
• Next Phase: Introducing the Farm feature in the coming weeks, allowing users to stake LP tokens to earn CAKE while maintaining their position in LP tokens.
• Final Phase: Launching the Initial Farm Offering (IFO) service, enabling early participation in new token projects.

Cost Efficiency:

• Low Trading Fees: Users can now trade with a minimal fee of just 0.01%, positioning PancakeSwap as one of the most cost-effective DEX options available.

Multichain Strategy:

• PancakeSwap v3: Launched in April, allowing users to choose from four fee tiers and offering other significant improvements.
• Existing Integrations: Prior to Arbitrum, PancakeSwap was already available on BNB Chain, Ethereum, Polygon zkEVM, Aptos, zkSync Era, and now Arbitrum One.

Financial Impact:

• TVL Statistics: According to DefiLlama, PancakeSwap has a total value locked (TVL) of over $1.489 billion, reflecting strong user trust and engagement in the DeFi space.

Platform Overview:

• DEX Operations: Like other DEXs, PancakeSwap utilizes smart contracts to facilitate various financial services such as trading, lending, and even lottery services. By eliminating intermediaries, it empowers users with greater control over their assets and transactions.
• Growth and Position: Launched in 2020, PancakeSwap has grown to become the second-largest decentralized exchange, following Uniswap, according to data from The Block.

The launch of PancakeSwap on Arbitrum One highlights its commitment to providing efficient and cost-effective decentralized financial services across multiple blockchain ecosystems. This expansion not only enhances the platform's capabilities but also strengthens its position in the DeFi landscape.