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By Andrea Porcelli – 3 Nov 2022
On 20 October, PancakeSwap made the native multichain proposal official, according to which the CAKE token will be distributed on the Aptos blockchain. The vote that took place on 23 October saw 539,004,298 votes in favor of distribution and only 6,268,346 not in favor of distribution.
From its inception, PancakeSwap has relied on BNB Chain for distribution, bringing extraordinary results, leading products and creating by far one of the best communities.
DEX developers in the Binance ecosystem opted to deploy on Aptos for a variety of reasons, but generically mostly because of the capabilities and innovation brought by Aptos.
Summary
In the document drafted in person by the PancakeSwap team announcing the proposed implementation, the various reasons are explained in detail.
The low transaction costs and the speed of transactions attracted the developers of the CAKE token.
In addition, the Aptos team’s experience in the crypto world makes it a very attractive chain.
Now that the proposal has been accepted, PancakeSwap will be deployed with four main features: exchanges, farms, pools and initial farm offerings. The operation will have to be rapid so as to have Pancake become the main DEX on Aptos, just as it has been so far for BNB Chain.
Moreover, the $CAKE token will be natively available on the Aptos blockchain.
The distribution program that PancakeSwap has in mind is quick, fast, and functional.
The idea is to launch Aptos in tiered phases: starting with phase 1, where liquidity extraction programs (syrup pools and farms) will be hosted. Then phase 2 will be launched, which will include launching ramps for new projects (Initial Farm Offering or IFO).
The Phase 1 service will be active right away, while the Phase 2 service will take a little longer.
The key change will be how $CAKE is distributed between the two chains, and as always, chefs will manage the issues in a way that balances the $CAKE burning mechanism.
The distribution will obviously be a win-win situation for both parties, it will see important and successful projects come to light, and undoubtedly, the collaboration will lead Aptos to a higher liquidity ratio for creating independent projects.
The blockchain created by the two former Meta employees, Mo Shaikh and Avery Ching, has not been without criticism. We have already discussed the strengths, the ones that made the PancakeSwap chefs opt to implement it on their blockchain. The speed of the chain and the new programming language is what stands out.
But there has also often been criticism of Aptos: because of the lack of initial transparency, misleading advertising, and the huge allocation of VC tokens.
What looked like a safe and secure blockchain might not have lived up to expectations.
In addition, at the time of its token launch, criticism centered on the fact that 49% of the tokens were distributed before the launch to developers and private investors. This move infuriated several crypto investors, who expressed poor judgment toward the Aptos blockchain.
Then again, the doubts are also part of the gamble PancakeSwap made by opting for Aptos. The project itself is something important, but the idea of the chefs is to improve it continuously.
Crypto Advertising – 8 Sep 2023
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