Popular automated market maker and decentralized exchange, Pancakeswap has launched its farms on Aptos, a scalable layer 1 blockchain. The protocol announced the development in its Friday blog post. PancakeSwap said it launched the product in line with its commitment to becoming the leading multi-chain decentralized exchange (DEX).
According to the decentralized exchange, the new product enables its users to earn CAKE while supporting PancakeSwap by staking LP Tokens. Notably, it requires users to trade two tokens in a bid to earn LP Tokens. Afterward, the LP tokens is staked in the Farm to earn rewards. Occasioned by this development, users earn rewards while keeping a position in their other tokens.
Launched product to foster remarkable experience for users
According to PancakeSwap, it designed the product experience to run consistently across different blockchains. This, according to the protocol, makes it easy for seasonal farm users on BNB Chain to enjoy remarkable experience.
Additionally, PancakeSwap announced its plan to add more pairs to the farming experience to the product. More so, it plans to optimize the emissions allocated to Aptos and farm multipliers. It revealed that the Chefs will post the emission confirmations vote after the deployment of the farm product reaches a steady state. Meanwhile, the exchange believes the launching of its Farms is another step in its mission to establish robust presence in Aptos. It, however, promised to deploy more core features, such as Pools and IFO are still cooking and very soon. Further, the protocol urged projects on Aptos who are intending to incentivise their liquidity on PancakeSwap to reach out.
Notably, this development comes a few months after it proposed it’s mainnet deployment to Aptos. PancakeSwap, says its consideration of Aptos manifested owing to numerous reasons. First, it says Aptos runs as a next generation L1 blockchain. Further, PancakeSwap hinted that the blockchain avails low transaction costs, high transaction throughput, and fast transaction speeds. According to the decentralized exchange, Aptos also utilizes a novel and developer optimized approach to parallel execution, thereby facilitating numerous technical and user improvements.
PancakeSwap and Aptos shares cordial relationship
Further justifying its selection of the blockchain, PancakeSwap said Aptos possesses a team with robust experience in crypto products. More so, it says the scalable Layer 1 blockchain possesses a vast developer ecosystem, enveloped with numerous protocols. The decentralized exchange added that these protocols on Aptos ecosystem will suit its future collaborations and products. Remarkably, the protocol enjoys a cordial relationship with Aptos team.