After careful consideration, they are suggesting to launch on Aptos. At the moment, PancakeSwap is built on the BNB network with a trading volume of around $47 million. Nonetheless, the blockchain's creator wishes to migrate to Aptos in an attempt to try something new.
The Aptos chain, which PancakeSwap opted to operate on, is a next-generation Layer 1 with low transaction fees, large transaction throughput, and quick transaction speeds, according to the proposal. The Aptos team has also contributed to numerous crypto products, particularly those in the web3 sector.
Additionally, Aptos boasts a тАЬvibrant developer ecosystemтАЭ with a handful of protocols under development. Moreover, the programmers highlighted that PancakeSwap had established a solid relationship with the Aptos team and that a big chunk of its network is ideal for PancakeSwap collaborations and products.
If the community approves the plan, PancakeSwap will launch on Aptos by Q4 2022 with four key featuresтАФswaps, farms, pools, and first farm offerings. This change will be implemented as soon as possible so that PancakeSwap can position itself as the top DEX on Aptos, as the authors specified in the proposal.
The PancakeSwap native token, $CAKE, will also be naturally accessible on the Aptos blockchain, marking the very first occasion that $CAKE will be accessible in this manner on another chain. On the higher elevation, voting will start for the idea. One of the newest L1 mainnets in the market is Aptos blockchain, which was established by former Meta executives Mo Shaikh and Avery Ching. It gave 20 million Aptos ($APT) tokens to its initial testnet participants as an airdrop four days after launching the mainnet.
This, along with the blockchain's claimed capacity to perform 130,000 transactions per second (TPS), has contributed to the network's rapid growth since its introduction.
Although it's a significant improvement from the 4 TPS it began with on the day of its mainnet launch, it's important to note that the Aptos mainnet is only capable of managing roughly 16 TPS at the time of writing.
Prior to the mainnet debut, Aptos Labs raised a total of $150 million in July. This money was used to support the ongoing creation of its programming language, expand its personnel, and carry out ecosystem fund development aimed at luring programmers and fostering local development.
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