DeFi

PancakeSwap Now Expands To Layer 2 Base Network

Key Points:

PancakeSwap has joined Base, an Ethereum L2 scaling network developed by Coinbase and Optimism.
Base uses OP Stack technology to enable fast and cheap transactions on Ethereum, and integrates with Coinbase’s products and ecosystem.
The integration with Base is part of its multichain expansion strategy.

PancakeSwap, one of the top decentralized exchanges (DEXs) in the crypto space, has announced its integration with Base, a new Ethereum layer 2 (L2) scaling network created by Coinbase and Optimism.

PancakeSwap Now Expands To Layer 2 Base Network 2

This move is part of PancakeSwap’s multichain expansion plan, which seeks to provide its users with more choices and lower fees for trading crypto assets.

Base is an L2 chain that uses OP Stack, a technology that allows fast and cheap transactions on Ethereum without compromising security or decentralization.

Base also connects with Coinbase’s products and ecosystem, offering easy access to fiat onramps and mainstream crypto adoption. Base launched its mainnet on Aug. 9 and is already challenging other L2 networks such as Arbitrum and Optimism in terms of performance and adoption.

PancakeSwap, which was originally built on BNB Chain, has been adding support for various chains in recent months. Besides Base, PancakeSwap also supports Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, and Linea.

By building on Base, PancakeSwap hopes to offer its users a reliable and low-cost trading experience, as well as the benefits of Coinbase’s security and scalability.

PancakeSwap is not the only DEX that has integrated with Base. Uniswap, the largest DEX on Ethereum by trading volume, has also announced its support for Base. This shows the growing interest and adoption of L2 solutions in the decentralized finance (DeFi) sector.

The integration of PancakeSwap and Uniswap with Base is expected to boost the liquidity and activity of both DEXs, as well as the Base network itself. This could also attract more users and developers to the L2 space, creating a more robust and sustainable DeFi ecosystem.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.