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

On the way to a new Eldorado – Changing pancakes is the iconic decentralized exchange platform of 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, facing the important congestion problems encountered by Ethereum (ETH), Binance Unveils BNB Smart Chain. Quickly, CZ Smart Chain and its lower fees than Ethereum attracted developers and users. From this enthusiasm was born a rich and diverse DeFi ecosystem.

Among the emblematic protocols of the BNB Smart Chain, we find DEX Changing pancakes. Based on the code Sushi Exchangethe platform then evolved to provide more services to its users.

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

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

“Today, we are pleased to introduce our first domestic multi-channel proposition, where CAKE will move to another channel. The goal is to put PancakeSwap in place of Aptos! »

As a memory, 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 its own path with many chains.

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Why Aptos?

Of course, the PancakeSwap teams have explained 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 cost, high transaction throughput and fast transaction speed. It uses a new, developer-optimized approach to parallel execution. This brings a number of improvements both technically and for the end user. »

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

Eventually, PancakeSwap would roll out to Aptos in one minimal version. This would integrate the 4 main functionalities of the protocol viz swapsthey farmsthey swimming pool and at the end of I FO.

A decision that depends on 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 placed on the Aptos blockchain.

of vote will be open for a two-day period, starting from October 21 14:00 untiluntil October 23 14 hours.

At the moment, voting is well underway. Indeed, ” yes won the vote with 96% of the votes.

Current voting result.

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

PancakeSwap is moving! Want to stay loyal to the Smart BNB Chain? Register quickly on the Binance platformthe absolute standard in the sector (trade connections).

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