- PancakeSwap v3 has launched on Polygon zkEVM, opening up new horizons for the DeFi community with reduced trading fees, increased returns for liquidity providers, and improved capital efficiency.
- To commemorate the launch, PancakeSwap is hosting the ‘Traverse the Treasure Islands Galxe Campaign’, offering participants the opportunity to earn loyalty points and gain exclusive access to commemorative NFTs.
Diving into the realm of multichain DeFi, PancakeSwap v3 has officially docked on Polygon zkEVM Mainnet Beta, commencing an unprecedented era of decentralized finance. The new version brings forth enhanced swap and liquidity provision features, carving out an industry niche for itself as the most user-friendly and efficient decentralized exchange (DEX).
Enhancing efficiency, reducing gas cost, and increasing network throughput ⚡️
— Polygon (Labs) (@0xPolygonLabs) June 30, 2023
By harnessing the advanced Ethereum Layer Two (L2) technology, Polygon zkEVM, PancakeSwap is not only reducing trading costs but also optimizing network throughput, thus significantly ameliorating the functionality of Ethereum smart contracts and decentralized applications (dApps). Given these merits, it’s hardly surprising that the Polygon network has gained immense traction with a total value locked (TVL) surpassing $28M since its beta mainnet launch on March 27, 2023.
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With PancakeSwap v3’s arrival on Polygon zkEVM, users can now experience seamless token swaps and direct participation in liquidity provision on the platform. This version is particularly attentive to capital efficiency, enabling liquidity providers to concentrate their capital on specific price ranges where most trading occurs. Thus, it gives them the power to earn more by allowing their assets to work harder, achieving a potential capital multiplier of up to 4000x.
In addition, PancakeSwap v3 has introduced multi-tier fees on Polygon zkEVM, ensuring traders the industry’s most competitive trading fees. This feature, coupled with lower slippage and capital-efficient trading, takes the PancakeSwap v3 user experience to unprecedented heights.
To mark the occasion, PancakeSwap has unveiled the ‘Traverse the Treasure Islands’ Galxe Campaign. Participants are encouraged to perform tasks on the Polygon zkEVM, which could win them loyalty points and exclusive access to celebratory NFTs from the campaign.
This expansion to Polygon zkEVM is just the tip of the iceberg in PancakeSwap v3’s multichain journey. With the promise of improved swapping, liquidity provision, reduced gas costs, and increased network throughput, it’s clear that the platform is on a mission to bring decentralized finance to the masses.
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