Non-custodial exchange PancakeSwap has added support for version 3 of the protocol to the Base layer Ethereum network backed by Coinbase.
Swap and liquidity functions are now available on the platform, and farming will appear soon.
Users will be able to choose their preferred pools with low slippage directly through the protocol or interface of the crypto exchange. The transaction fee varies from 0.01% to 1%.
Among the advantages of Base in PancakeSwap, they singled out “first-class” security and scalability. Also, representatives of the trading platform noted the convenience of deploying financial applications thanks to the support of Coinbase.
“Using Base security measures and Ethereum compatibility, we offer users a reliable and cost-effective trading experience. In addition, integration with the Coinbase ecosystem enables the mass adoption of cryptocurrencies, which makes it an important milestone on the path to creating a more inclusive DeFi environment,” the developers said.
Together with the new protocol, PancakeSwap is now available on eight networks including Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum and Linea.
On August 9, Coinbase opened the Base mainnet to the public. Shortly thereafter, the Velodrome, Compound, 1inch, Uniswap, and Symbiosis Finance platforms integrated support for the L2 solution.
At the end of August, Base overtook other second-tier networks built on the Optimistic software stack in terms of the number of transactions. The indicator peaked at 889,000, but then began to gradually decline.
Recall that in April, the third version of the PancakeSwap protocol was launched. In particular, the developers have implemented the concept of concentrated liquidity.
Starting August 9th, CAKE stakers with fixed lock times receive 5% of the trading fees in the protocol weekly.
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