PancakeSwap Infinity Goes Live on Coinbase's Base with Promise of Lower Fees and Increased DEX Volume

The world of decentralized finance continues to push the boundaries of innovation as PancakeSwap Infinity, the fourth version of the popular PancakeSwap decentralized exchange (DEX), becomes live on Coinbase’s Ethereum layer-2 network, Base. The news circulated the crypto sphere following an announcement made on Tuesday.

The Launch of PancakeSwap Infinity

PancakeSwap Infinity’s introduction to Base is significant news, especially since it recently the DEX had already become live on BNB Chain at the end of April. Porting over to Base represents a strategic progression of PancakeSwap’s continuous efforts to provide its users with a wider platform reach and streamlined services. PancakeSwap Infinity is raising the bar of DEX platforms by showcasing its unique multichain protocol and a multitude of pool types designed to cater to various liquidity strategies.

Significant Growth of Base

Base’s total value locked (TVL) demonstrated impressive growth from its TVL of $3.211 billion reported at the start of the year. It reached a new high of $4.295 billion, displaying a 33.75% surge, according to data provided by DefiLlama. Additionally, Base noted a considerable growth in DEX volume on their platform. DefiLlama data depicted that the Base DEX volume reached a record high of $1.616 billion over the latest 24 hours. Base’s newfound success is accreditted to its innovative operations, supporting PancakeSwap’s one-click crosschain swaps using the Across Protocol. Crosschain swaps facilitate seamless trade between different blockchains. Supported networks included BNB Chain, Arbitrum, and of course, Base.

Improved Features in PancakeSwap Infinity

Marking an evolution from its prior versions, PancakeSwap Infinity boasts improvements designed to enhance the user experience and optimize financial operations. One of these upgrades includes a customizable fee structure. Infinity claims to deliver a dramatic reduction in costs, up to 99% savings in pool creation fees and about 50% savings in trading Ether against ERC-20 tokens. The new update also introduced hooks, smart contract plug-ins that can be attached to liquidity pools. The hooks serve to execute before or after key events such as pool creation, liquidity addition or removal, swaps, or donations. Hooks allow developers to incorporate custom logic into pools, enabling them to execute schemes such as rebate plans, dynamic fees, or onchain limit orders without requiring direct edits to the core automated market maker implementation.

Recent Advances with Base Network

In May, Base briefly surpassed 1,000 transactions per second, demonstrating high-level performance comparable with layer-1 blockchain Solana. This advancement has brought the platform to a position where it can readily provide the scalability needed for more substantial network activity and increased usage. In the previous month, Naveen Mallela, an executive at JPMorgan’s blockchain division, Kinexys, announced the organization chose Base network to pilot its deposit token, JPMD. This marks one of the several institutional involvements Base has witnessed recently. Nelli Zaltsman, head of blockchain payments innovation at Kinexys, further expressed wanting to integrate institutional-grade payments infrastructure with onchain assets, indicating broader acceptance and adoption of blockchain technology in the corporate world.

Concluding Thoughts

PancakeSwap Infinity’s introduction to the Base network signifies the ever-growing impact of Decentralized Finance (DeFi) in the financial tech world. As new updates, introductions, and features are implemented, the sector continues to redefine traditional finance. Therefore, both industry leaders, investors, and individual traders should keep a close eye on the wave these financial instruments are creating. As Base and other layer-2 networks continue to grow and enhance their offerings, it signifies a new era in the decentralized finance sphere. By integrating these platforms with evolving technologies such as PancakeSwap Infinity, the DeFi community will continue to bridge the divide between the realm of traditional finance and the new age of onchain assets. It capstones the industry’s relentless pursual to disrupt conventional financial frameworks and usher in a new financial paradigm.

PancakeSwap Infinity Goes Live on Coinbase’s Base with Promise of Lower Fees and Increased DEX Volume