Decentralized exchange PancakeSwap v3 has been launched on opBNB, a layer-2 scalability solution for the BNB Chain.
Reduced gas costs and improved capital efficiency are the two goals of the launch. PancakeSwap currently has six layer-2 solutions deployed across several mainnets thanks to its opBNB launch, including off-chain scaling options for Ethereum.
With 4,000 transactions per second (TPS), OpBNB can support a wide range of operations, including gambling, decentralized exchanges (DEXes), regular transfers, and even non-fungible tokens (NFTs). Senior Solution Architect at BNB Chain, Arno Bauer, said:
“BNB Chain is delighted to welcome PancakeSwap v3 to its layer-2 scaling solution, opBNB. Combining the power of PancakeSwap with opBNB’s low fees, high throughput, and scalable infrastructure, this integration paves the way for a new era of DeFi accessibility and functionality.”
When users perform activities on Galxe, a web3 credential data network, PancakeSwap revealed that users can obtain exclusive NFTs via token swaps on v3 opBNB during the launch.
It is yet to be discovered whether the owners of these digital collectibles would have any trade advantages on PancakeSwap v3. PancakeSwap supports Base, a layer 2 scaling network for Ethereum (ETH), which Coinbase, a cryptocurrency exchange, incubated.
This connection initially only supports functions for swapping and liquidity provision. To allow users to stake liquidity provider (LP) tokens in exchange for PancakeSwap’s native CAKE tokens, the project also intends to introduce the farming feature.
