Decentralized exchange PancakeSwap will go live on Polygon zkEVM Blockchain in line with broader plans to expand its user base and increase revenue from the protocol, said developer Chef Cocoa.
This deployment on Polygon zkEVM will provide lower fees and faster transactions for users transacting on the zkEVM network. Currently, PancakeSwap users can trade with fees as low as 0.01%.
Since completing its beta mainnet launch in March, Polygon zkEVM has attracted more than $28 million in total value locked (TVL). The network is a privacy-focused Layer2 blockchain operating on top of the Polygon blockchain. This will be PancakeSwap's fourth blockchain after BNB Chain, Ethereum and Aptos.
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