PancakeSwap Launches on Base

Leading decentralized exchange, PancakeSwap, announced on August 31 that it had launched its v3 product on Base, a new layer-2 blockchain, brought to the ecosystem by the well-known Coinbase exchange.

The rate of PancakeSwap’s expansion across the ecosystem remains aggressive, with recent product launches on zkSync, Arbitrum, and Linea also. 

With this latest network launch, DeFi users will be able to benefit from, not only PancakeSwap’s competitively low swap fees and myriad features, but also the scalability advantages offered by Base’s new Ethereum L2.

“By joining forces with Base, PancakeSwap is pleased to bring users more accessibility and functionality than ever before. Our decision to launch on Base reflects our continued commitment to driving mass adoption of DeFi, empowering users, and fostering a vibrant DeFi community.” - Chef Mochi, Head Chef at PancakeSwap 

Why is PancakeSwap Building on Base?

This most recent move typifies PancakeSwap’s long term vision of offering users the ‘Ultimate DeFi Experience’ - one which embodies a multichain future that provides as much optionality to the end user as possible. The team further points to Base’s security measures and Ethereum compatibility, as well as useful integrations with Coinbase products, as some of the driving factors behind the decision. 

What is PancakeSwap?

PancakeSwap is one of the most popular decentralized exchanges in the blockchain ecosystem. Launched in 2020, the DEX boasts $1.36 billion in locked liquidity, according to data from DefiLlama, and is the largest DeFi protocol on BNB Chain. 

At all-time highs, PancakeSwap’s TVL reached nearly $22 billion, and its native token, CAKE, has a market capitalization of $265 million at time of writing, according to data from CoinMarketCap.