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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

PancakeSwap V3 Takes The Stage On Ethereum’s Layer 2 Linea Mainnet

Ronaldo Marquez
Ronaldo Marquez
1 year ago
2 mins read
PancakeSwap

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PancakeSwap, a leading decentralized finance (DeFi) platform, has officially launched its anticipated Version 3 (V3) on the Linea Mainnet. 

According to the announcement, the collaboration between PancakeSwap and Linea aims to provide a seamless trading experience with lower fees, increased liquidity provider returns, and enhanced capital efficiency.

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PancakeSwap V3 On Linea

Linea, formerly known as ConsenSys zkEVM, stands as Layer 2 scaling solution powered by ConsenSys. Linea achieves faster transaction speeds and reduced gas costs while ensuring security by utilizing zero-knowledge proofs and maintaining full Ethereum Virtual Machine (EVM) equivalence.

Developers can seamlessly create or migrate Ethereum apps without code modification or smart contract rewriting. With native integrations of popular tools like MetaMask and Truffle, Linea empowers developers with flexibility and scalability on the zkEVM.

The collaboration has provided PancakeSwap users with insights into Layer 2 scaling solutions and the Linea platform, contributing to the development and adoption of decentralized financial solutions.

Per the announcement, PancakeSwap v3 on Linea introduces two key features: advanced Swap and Liquidity Provision functionalities. These features enable users to trade tokens and participate in liquidity provision directly on the platform. 

The core principle of PancakeSwap v3 is maximizing capital efficiency, allowing liquidity providers to concentrate their capital within specific price ranges where most trading occurs. 

By optimizing asset utilization, liquidity providers can enhance their earnings. PancakeSwap v3 enables liquidity providers to achieve a capital multiplier of up to 4000x compared to its predecessor, v2, thus maximizing returns.

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While the provision of Linea incentives to PancakeSwap has not been communicated at this point, if they are provided, PancakeSwap intends to share them with various stakeholders, including the CAKE community, CAKE stakers, projects contributing to PancakeSwap’s development, and ecosystem contributors. The protocol’s “Chefs” concluded the announcement by stating: 

We anticipate the exciting opportunities ahead as PancakeSwap v3 takes its momentous leap onto Linea. We are thrilled to work hand in hand with other projects, developers, builders, and our vibrant community as we continue to push the boundaries of Multichain DeFi. Together, we can foster innovation, drive adoption, and shape the future of decentralized finance. We invite you all to join us on this remarkable journey as we unlock new realms of possibility and create a thriving ecosystem that benefits everyone involved.

PancakeSwap
CAKE’s sideways price action on the daily chart. Source: CAKEUSDT on TradingView.com

Currently priced at $1.28, PancakeSwap’s token (CAKE) has experienced a slight downward movement in the past 24 hours, with a decrease of 0.02%. 

Over 7 days, it has seen a decline of 7.89%, and over 30 days, a decrease of 13.85%. Looking at a longer timeframe, PancakeSwap has encountered significant volatility, with a decline of 68.79% over the past 180 days.

Featured image from Unsplash, chart from TradingView.com

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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