PancakeSwap Set To Launch DEX On Aptos Blockchain

The world's second-largest decentralized exchange is set to deploy its services on the newly launched Aptos blockchain. PancakeSwap will offer native support for its CAKE token and also set up a liquidity pool for the Aptos’s APT token.

PancakeSwap is preparing to deploy its decentralized exchange (DEX) on the newly launched Aptos blockchain, after passing a governance proposal. The DEX, which recently expanded to Ethereum, will integrate its native token CAKE into Aptos and also deploy four primary features on the blockchain – swaps, farms, pools and initial farm offerings.

The Aptos deployment vote has passed!

PancakeSwap and the CAKE token will be deploying on Aptos shortly, with all our beloved products.

Calling out to projects on Aptos!

Read more about the deployment 👉https://t.co/cJVJtvU6d4 pic.twitter.com/IVClr6PZJQ
— PancakeSwap 🥞 #Multichain (@PancakeSwap) October 24, 2022

According to the proposal, PancakeSwap aims to take hold of the market share on Aptos as early as possible to become the dominant exchange on the ecosystem. With CAKE integration, Aptos will be the first blockchain to get native support for the token. Recently, many DEXs have been utilizing bridging platforms to expand onto other chains. This enables exchanges to offer services on multiple chains using native assets instead of a synthetic or “wrapped” version of the token.

Aptos and PancakeSwap developers will work together on building native applications for the newly released blockchain, and assist in growing the ecosystem. PancakeSwap will also set up a liquidity pool for APT, the native token of Aptos.

Created by the team behind Meta’s ill-fated blockchain project – Diem, Aptos went live on October 12. The network currently has over $15 million deposited across all applications in its ecosystem. APT token is currently trading at $9.13, down 1.3% in the last 24 hours.