PancakeSwap Expands to Layer-2 Base Ecosystem

Decentralized exchange (DEX) PancakeSwap has launched a new product branch on the Base network, a Layer-2 solution supported by Coinbase.

The PancakeSwap team announced that the decision to expand to Base was made to take advantage of the network's low transaction fees, providing users with a more convenient trading experience.

Why Base?

Base, developed with the support of Coinbase, has quickly gained traction since its mainnet launch a month ago. It has proven to be a formidable competitor to established names like Arbitrum and Optimism. According to data on the average number of transactions over the past seven days, Base recorded 813,000 transactions, significantly surpassing Arbitrum's 646,000 and Optimism's 469,000.

Benefits for PancakeSwap Users

1. Lower Transaction Fees: The move to Base will allow PancakeSwap users to enjoy lower transaction fees compared to other networks.
2. Improved User Experience: With reduced fees, users can perform more transactions without worrying about high costs, enhancing overall user satisfaction.
3. Liquidity Incentives: PancakeSwap will launch a liquidity incentive program on Base, allowing users to contribute liquidity to the platform and earn CAKE tokens as rewards.

Multichain Expansion

Base is the eighth network in PancakeSwap's multichain expansion roadmap. The project is already present on several platforms, including BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, and most recently, Linea.

PancakeSwap's Background

PancakeSwap is a decentralized exchange that originated in 2020. It ranks second only to Uniswap in terms of total on-chain trading volume processed.

Conclusion

PancakeSwap's expansion to the Base network marks a significant milestone in its growth strategy. By leveraging the advantages of Layer-2 solutions, PancakeSwap aims to provide a more efficient and cost-effective trading experience, thereby attracting a larger user base and enhancing its position in the DeFi market.