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After hype about the start: PancakeSwap wants to use mainnet on Aptos

 


On October 20, the developers of the popular decentralized exchange (DEX) PancakeSwap proposed deploying their mainnet on the Layer 1 blockchain Aptos.


PancakeSwap is currently based on BNB Chain and processes around $47 million in trading volume daily. Now the developers of the DEX have presented the first multichain migration proposal after the launch of Aptos on October 17th and write about it: 


"Aptos is a next-generation L1 with low transaction costs, high transaction throughput and high transaction speeds. The network offers a novel and developer-optimized approach to parallel execution. PancakeSwap has developed a strong relationship with the Aptos team and many applications in its developer ecosystem are for PancakeSwap partnerships and products."

If the proposal is accepted, the developers will roll out four key DEX features on Aptos by Q4 2022, including swaps, farms, pools, and initial farm offerings. According to the developers, this is to ensure that PancakeSwap can quickly establish itself as the leading DEX on Aptos.will also be available natively on the Aptos blockchain. Voting on this will start shortly on the platform.


Aptos was founded by former Meta employees Mo Shaikh and Avery Ching, who were also involved in the company's failed stablecoin project called Diem. In July , Aptos Labs raised $150 million in a funding round led by FTX Ventures and Jump Crypto, bringing it to a $1 billion valuation.


The project has attracted a lot of attention among developers due to its supporters and due to its promotion with 130,000 transactions per second. However, as of press time, the Aptos mainnet can only handle around 16 TPS, which is well above the 4 TPS recorded when the mainnet launched three days earlier.


On the first day of listing on Binance, APT/USDT has fluctuated between $100 and $1. Currently, the pair has stabilized around $7.

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