Hassan Maishera
The Pancakeswap team announced via a blog post on Tuesday that CAKE, its native token, is now live on Ethereum. With this new development, liquidity farming on Ethereum is now native, which means that users can start earning rewards for their liquidity contributions without waiting for cross-chain transactions to complete. Additionally, this integration means that less gas is spent, making transactions faster and more affordable than ever before.
With the ability to claim CAKE natively on Ethereum, users no longer need to go through the process of moving their tokens back and forth between chains. This also means that users don't have to worry about the risk of losing their tokens during the transfer process. Furthermore, users can bridge CAKE between BNB Chain, Ethereum, and Aptos effortlessly without fees in CAKE, although gas fees are still required for source and destination transactions.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by more than 3% today and is currently trading at $3.633.
