PancakeSwap Proposes Aptos Mainnet Deployment

On October 20, it was proposed that a decentralized cryptocurrency exchange called PancakeSwap be deployed on the Aptos blockchain. PancakeSwap is a cryptocurrency-swapping platform. Aptos was selected as the location for the PancakeSwap creators because of its innovative and technical possibilities.

The recommendation to deploy on Aptos was made in the accompanying document, which said, “After extensively examining the scenario, we are suggesting to deploy on Aptos.” PancakeSwap is currently constructed on the BNB network, which has an average daily throughput of $47 million in transactions. On the other hand, the creator of the protocol is now mulling over whether or not to move operations to Aptos in order to try out a new tactic.

PancakeSwap justified its choice to deploy to the Aptos chain by stating that it is a next-generation Layer 1 that has inexpensive transaction costs, a huge transaction volume, and speedy transaction speeds. In addition to this, the Aptos team has previous expertise working on a wide range of crypto products, notably those that are associated with the web3 industry.

In addition, Aptos offers what it calls a “vibrant developer ecosystem” that is actively developing many protocols at the same time. The developers said in the proposal that “a substantial portion of the ecosystem is appropriate for PancakeSwap cooperation and products.” The developers also said that PancakeSwap has created a strong working relationship with the Aptos team, which is not the least important point.

If the community makes the decision to vote in favor of the plan, PancakeSwap will be implemented on Aptos by the fourth quarter of 2022 with four primary features, which will include:

• Swaps
• Farms
• Pools
• First Farm

This will occur if the community decides to vote in favor of the plan. This modification will be executed immediately, just as the creators said it would be in the proposal, so that PancakeSwap may quickly establish itself as the most prominent DEX on Aptos.

Additionally, the native token of PancakeSwap, which goes by the name $CAKE and is stored on the Aptos blockchain, will be made available for use there in its unaltered state. This will be the very first time that $CAKE may be purchased in its unaltered form on a blockchain that is not associated with the Aptos organization. On the matter of whether or not to include the notion into the platform, voting will get underway today.

The Aptos blockchain is one of the newest L1 mainnets currently operating in the industry. Mo Shaikh and Avery Ching, who had both previously worked at Meta, were the ones who pioneered the company and got it off the ground. Four days after the launch of its mainnet, it carried out an airdrop that consisted of the distribution of 20 million Aptos ($APT) tokens to the early users of its testnet.

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Along with this, the fact that the blockchain is said to be capable of handling 130,000 transactions per second (TPS) is another factor that has contributed to the network’s meteoric rise in popularity since its inception. This is one of the factors that has contributed to the meteoric rise in popularity of the network.

It is essential to keep in mind, however, that the Aptos mainnet can only handle around 16 TPS at the time that this article is being written. Although this statistic is a significant improvement over the 4 TPS that it had on the day that it debuted its mainnet, it is still a very slow transaction processing speed.

Aptos Labs was able to successfully solicit a total of $150 million in funding during the month of July, just prior to the launch of its mainnet, in order to support the further development of its programming language, as well as to expand its team further and continue developing ecosystem funds designed to attract developers and grow its community. This was done in order to support the further development of its programming language, as well as to expand its team further and continue developing ecosystem funds designed to attract developers and grow its community.

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