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PancakeSwap Expands to Linea: Ethereum Layer 2 Scaling Network
PancakeSwap, the notable decentralized exchange protocol, has taken a significant step forward by expanding its services to Linea, an Ethereum Layer 2 scaling network powered by ConsenSys. This move marks PancakeSwap's entrance into its seventh blockchain network, as it continues its pursuit of a multi-chain approach.
With its integration onto Linea's mainnet, PancakeSwap aims to provide users with advantages like reduced gas fees, faster transaction processing, and enhanced capital efficiency. Linea, functioning as an Ethereum Layer 2 solution, processes transactions within its network before consolidating them on the Ethereum main blockchain. This approach results in quicker transactions and lower fees. Launched in July, Linea operates as a zero-knowledge rollup network.
PancakeSwap's offerings, including swap and liquidity provisioning features, will now be available on Linea. The concept of swapping in the decentralized finance (DeFi) ecosystem refers to exchanging one token for another, while liquidity provisioning involves contributing funds to a pool to facilitate trading and earn rewards.
Following the introduction of swap and liquidity provisioning, PancakeSwap is planning to introduce its farm feature to Linea in the near future. This feature allows users to stake their liquidity provider tokens and earn rewards in PancakeSwap's native CAKE token while retaining a position in their LP tokens. Additionally, PancakeSwap intends to launch its initial farm offering (IFO) platform on Linea, granting early access to new tokens.
PancakeSwap's collaboration with the Linea team began with a testnet partnership in June, which has now culminated in its expansion onto Linea's mainnet.
Notably, Linea is the seventh blockchain network that PancakeSwap has ventured into as part of its strategy to integrate with various Ethereum scaling networks. Originally established on BNB Chain, PancakeSwap has since extended its support to Ethereum, Aptos, Polygon zkEVM, zkSync Era, and Arbitrum One.
Since its inception in 2020, PancakeSwap has rapidly risen to become the second-largest decentralized exchange protocol, following Uniswap. While PancakeSwap makes its presence felt on Linea, Uniswap has yet to venture into this particular scaling network. Uniswap's supported blockchains include Polygon, Optimism, Arbitrum, and Base.
