PancakeSwap, a decentralized exchange (DEX), has gone live on Ethereum scaling network Arbitrum, according to developer Chef Cocoa. The move is part of the DEX’s plans to expand its user base and build revenue. PancakeSwap is already available on BNB Chain, Ethereum, Polygon zkEVM, zkSync, and Aptos blockchains. As of Wednesday, the DEX held over $1.54 billion worth of tokens, according to DefiLlama data.
Deployment on Arbitrum will provide lower fees and faster transactions for PancakeSwap users. Fees are as low as 0.01%, one of the lowest among DEXs. Arbitrum locks over $2 billion worth of tokens and is among the most popular layer-2 networks.
PancakeSwap’s decision to launch on Arbitrum One reflects its commitment to driving mass adoption of DeFi, Chef Cocoa said. With the utmost scalability and cost-effectiveness, PancakeSwap aims to attract a wider audience to the exchange and facilitate broader participation in the DeFi ecosystem.
PancakeSwap’s native token cake (CAKE) is little changed over the past 24 hours and trades at $1.50 as of European afternoon hours, according to CoinGecko data.