The developers of decentralized exchange PancakeSwap have launched the third version of the protocol on the beta version of the Polygon zkEVM network.
🤝 PancakeSwap is now LIVE on @0xPolygonDeFi zkEVM, unlocking a new era of Multichain DeFi
🐰 Experience the most efficient and user-friendly DEX with fees as low as 0.01%
💜Join us on this journey today: https://t.co/F7SERgzZa4
— PancakeSwap🥞Ev3ryone’s Favorite D3X (@PancakeSwap) June 29, 2023
The integration will provide lower fees and faster transactions. Payment for gas in the network will be from 0.01% to 1%.
“The expansion of PancakeSwap v3 on Polygon zkEVM marks the beginning of a new era of DeFi. Through seamless exchange, provision of liquidity, increased efficiency, lower transaction fees, and increased network bandwidth, we are bringing the power of decentralized finance to a wider audience,” said the project team.
According to the data Defi Llamaat the time of writing, Polygon’s total zkEVM network is $28.57 million.
This is the fourth integration for PancakeSwap – the exchange supports the BNB Chain, Ethereum and Aptos blockchains.
In April 2023 the team DEX presented the third version of the protocol. It provides liquidity providers with the ability to concentrate capital on specific price ranges, as implemented in Uniswap v3.
On March 27, a beta version of the zero-knowledge proof (ZKP) scaling solution for Ethereum was launched. Polygon zkEVM supports Ethereum code and allows developers to leverage existing tools and infrastructure.
More than 50 Web3 projects have already deployed about 6,000 smart contracts in the protocol. Among them are Lens, Aavegotchi, 0xvix, Quickswap, Etherscan, Phantom, Midnight Society, Luganodes, Celer, Gameswift and Yeeha Games.
Recall that the Aave DeFi platform announced preparations for integration on Polygon zkEVM.
Previously, the Uniswap community approved the deployment of the protocol on the ZKP network.
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