Renowned decentralized exchange, PancakeSwap has launched a new version on the Linea Mainnet. As announced, the launching of the new version; PancakeSwap v3 surfaced after its successful deployment as a testnet on Linea. More so, the decentralized exchange disclosed that the development marks a new era for the multichain DeFi landscape.
Further, PancakeSwap indicated that with the support of Linea, the newly launched version will offer users an advanced trading experience. The newly launched version as established in the blog post will provide users with lower fees, increased liquidity provider returns, low spillage, and improved capital efficiency.
Accordingly, the new initiative is equipped with a multi-tier fee structure to offer traders low trading fees. With the feature, users will enjoy the freedom to select the fee structure that suits their trading and liquidity pool preferences.
PancakeSwap v3 on Linea as revealed, is supported with two major features. According to the announcement, the project offers advanced Swap and Liquidity Provision functionalities. These features allow users to trade their tokens and provide liquidity on PancakeSwap v3. Similarly, the announcement indicated that the initiative will provide new experiences that will raise the standard of the DeFi landscape.
Also, the decentralized exchange launched the “Traverse the Treasure Islands” Galxe campaign, to encourage users to migrate to its platform. PancakeSwap added that users can earn loyalty points and exclusive access to special NFTs.
Insights into PancakeSwap and Linea partnership
Meanwhile, PancakeSwap revealed that the collaboration with Linea underlines its commitment to nurturing innovation and partnership within the DeFi landscape. In addition, the decentralized exchange noted that the partnership has exposed its users to the pros and cons of Layer 2 scaling solutions.
The decentralized exchange described Linea as a revolutionary layer 2 scaling solution powered by ConsenSys. As stated, the network relies on zero-knowledge proofs with full Ethereum Virtual Machine equivalence to process transactions swiftly. This support according to PancakeSwap enables Linea to subsidize gas costs without compromising security.
Additionally, in the announcement, PancakeSwap stated that Linea swap supports developers to seamlessly create and migrate Ethereum apps without modifying or rewriting their smart contracts. Lastly, more insights into the features of the project indicated that it offers native integration with prominent tools like MetaMask and Truffle.