Decentralized exchange PancakeSwap version 3 (v3) expanded to the Linea mainnet, a blockchain built by Ethereum development lab Consensys, in a bid to attract new users and build revenue.
PancakeSwap is already available on Ethereum, BNB Chain, Aptos, Polygon zkEVM, zkSync Era and Arbitrum. The deployment follows a successful testnet phase, and traders can now use the service to trade tokens at lower fees and improved capital efficiency.
Linea, formerly known as ConsenSys zkEVM, uses zero-knowledge proofs with full Ethereum Virtual Machine (EVM) computing to deliver faster transaction speeds and reduced gas costs without compromising on security.
EVMs refer to a set of virtual computers in which all Ethereum accounts and smart contracts live. A zero-knowledge proof is a way of proving the validity of a transaction without publicly revealing data of that transaction.
PancakeSwap v3 on Linea introduces advanced Swap and Liquidity Provision functionalities, offering users a seamless and efficient trading experience. Liquidity providers – the entities who provide capital on a DEX – can maximize their capital efficiency by concentrating their assets within specific price ranges where most trading occurs.
They can also achieve use of a capital multiplier of up to 4,000x, leveraging their locked token holdings and generating much higher returns during periods of market volatility.
As such, PancakeSwap is expected to bring its farm feature to Linea in the coming months, which will allow users to stake their LP tokens and earn PancakeSwap's native CAKE tokens.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.