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Top Crypto News Today: PancakeSwap proposes to Deploy on Aptos Mainnet

Top Crypto News Today: PancakeSwap proposes to Deploy on Aptos Mainnet

The team of developers at PancakeSwap proposed to deploy its tech stack on Aptos Mainnet for its secure and easy-to-use infrastructure. According to the proposal, PancakeSwap is currently deployed on the BNB chain and clocks a daily transaction volume of $47 million. The developers proposed to migrate the platform to Aptos to see if the performance of the platform can get better.  

Aptos has been in the buzz for its stellar debut in the web3 space. A layer 1 protocol with some remarkable technical capabilities like Block-STM for powerful smart contract development and a novel and modular approach towards transaction processing makes it a great fit for businesses running in the time of ASAP culture. 

Aptos blockchain’s benefits are more than just meet the eye. The PancakeSwap team added their reasons to propose migration to Aptos. The benefits include low transaction costs, high transaction throughput, and fast transaction speeds. The cherry on the cake is that the Aptos team has worked on multiple crypto and web3 projects in the past. 

The proposal also cited that the Aptos blockchain ecosystem has a vibrant developer community and some partnerships with developers in the pipeline. This makes up a great opportunity for PancakeSwap to get a wider community for its products. In the end, PancakeSwap added that it shares a great camaraderie with Aptos’s developer ecosystem. 

If the PancakeSwap community passes the proposal laid by developers the platform will migrate most of its solutions including the four main features: swaps, farms, pools, and initial farm offerings on Aptos by Q4 2022. The developers stated in the proposal that if the proposal gets a green flag the platform will migrate quickly so PancakeSwap can establish itself as the leading DEX on the Aptos blockchain. 

If the migration happens this will be the first time that CAKE, the native token of PancakeSwap, is available on another chain. A vote for the proposal will be conducted today. 

Aptos is founded by former Meta employees (Facebook) Mo Shaikh and Avery Ching the blockchain went live on the mainnet recently. In addition, the blockchain also airdropped 20 million Aptos ($APT) tokens to their early testnet users. 

One of the most notable benefits of Aptos is that it proclaims to handle 130,000 transactions per second (TPS).  At the time of writing, Aptos has currently handled 16 transactions per second which is notably high compared to its earlier performance (4 transactions per second). 

The unique combination of focusing on the user experience, upgradeability, and state-of-the-art technology make Aptos the home for developers to build applications. Currently, Aptos is working on a wide variety of use cases across NFT, gaming, commerce, social networks, and media & entertainment. 

Besides developing a robust and developer-friendly blockchain, Aptos’s products include Aptos Name Service, Aptos explorer and the Petra wallet which is the gateway to learning more about dApps on Aptos. 

Prior to Aptos’s mainnet launch, Aptos Labs raised $150 million in July 2022 to support the development of its programming language called Move, as well to expand the team and continue maintaining ecosystem funds to collaborate with developers and grow its community. 

Source: Blockchain.News

Additional Read: What is Aptos (APT)? How to buy Aptos Crypto in India?

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