PancakeSwap Launches On Linea

PancakeSwap today announced the launch of its v3 product on the Linea mainnet. The announcement follows a successful phase on testnet and is no doubt part of PancakeSwap’s plans to provide consumers with the ‘Ultimate DeFi Experience’.

With recent launches on multiple networks, such as zkSync and Arbitrum, PancakeSwap is fast establishing itself as one of the most significant protocols driving toward a highly functional multi-chain future. 

According to Chef Mochi, Head Chef of PancakeSwap, "Launching PancakeSwap v3 on Linea is a significant milestone for our vibrant community. With unprecedented cost efficiency, lower fees, and advanced features, we are unlocking new realms of possibility in the multichain DeFi space. Our collaboration with Linea empowers us to serve our users better, maximize capital efficiency, and shape the future of decentralized finance." 

With PancakeSwap v3’s launch on Linea, users gain access to advanced Swap and Liquidity Provisioning. LPs can maximize capital efficiency by providing liquidity only to specific price ranges, in not-dissimilar fashion to UniSwap v3’s mechanics. According to PancakeSwap, a potential capital multiplier of some 4,000x can be achieved. 

The Linea integration will further see DeFi users able to gain the advantages afforded by multi-tier fee structures. Traders can select the fees (ranging 0.01-1%) that is most appropriate for their needs, affording consumers an altogether higher degree of flexibility. 

“We are thrilled to collaborate with PancakeSwap on the launch of PancakeSwap v3 on Linea Mainnet. This partnership marks a significant advancement in scaling and optimizing DeFi across multiple chains. Through Linea’s innovative zero-knowledge proofs and full Ethereum Virtual Machine equivalence, we offer faster transaction speeds and reduced gas costs, ensuring a secure and efficient trading experience. With PancakeSwap v3 on Linea, users can enjoy unprecedented cost efficiency, lower fees, and advanced features, ushering in new possibilities for the multichain DeFi space. Together, we are shaping the future of decentralized finance and empowering users to maximize their capital efficiency.” - said Nicolas Liochon, Global Product Lead for Linea. 

What is Linea?

Linea, formerly known as ConsenSys zkEVM, leverages zero-knowledge proofs with full Ethereum Virtual Machine equivalence to deliver faster transaction speeds and reduced gas costs without compromising security. 

Its native integrations with popular tools like MetaMask and Truffle make it a user-friendly choice for developers seeking scalability and flexibility. Since its public testnet launch on March 28th, 2023, Linea has been at the forefront of Ethereum scaling, providing a robust infrastructure for projects looking to enhance their offerings. 

What is PancakeSwap?

PancakeSwap is one of the most popular decentralized exchanges in the blockchain ecosystem. Launched in 2020, the DEX boasts around $1.4 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 more than $274 million at time of writing, according to data from CoinMarketCap.