developers of the decentralized exchangePancakeSwap, on October 20, proposed its deployment to the Aptos blockchain due to the innovative and technical capabilities of the chain.

The proposal stated: “After careful analysis, we propose to implement in Aptos.” Currently, PancakeSwap is based on the BNB chain with a daily volume of around $47 million. However, the protocol developer wants to test a new move by migrating to Aptos.

Citing the proposal, PancakeSwap chose to implement on-chain Aptos because it is a next-generation layer 1 with low transaction costs, high transaction throughput, and fast transaction speeds. And furthermore, the Aptos team has worked on multiple crypto products, specifically in the web3 industry.

Additionally, Aptos has a “vibrant developer ecosystem” with many protocols in development. The developers stated in the proposal that a “large proportion of their ecosystem is suitable for PancakeSwap partnerships and products.” Finally, the developers added that PancakeSwap had developed a strong relationship with the Aptos team.

If the proposal is approved by the community, PancakeSwap will roll out with four main features including swaps, farms, pools, and initial farm offerings in Aptos by Q4 2022. As the developers stated in the proposal, this move will be made quickly to that PancakeSwap can establish itself as the leading DEX in Aptos.

In addition, PancakeSwap’s native token, $CAKE, will also be available natively on the Aptos blockchain, marking the first time that $CAKE will be available natively on other chains. Voting on the proposal will begin today on the platform.

Founded by former Meta employees Mo Shaikh and Avery Ching, Aptos blockchain is one of the newest L1 major networks in the industry. Following its mainnet launch four days ago, it distributed 20 million Aptos tokens ($APT) as an airdrop to its first testnet users.

This, including the blockchain’s heralded capabilities of processing 130,000 transactions per second (TPS), has seen the network gain a lot of traction since its launch.

However, it’s worth noting that the Aptos mainnet only manages around 16 TPS at the time of writing, though that’s notably higher than the 4 TPS it started with on launch day of its mainnet.

Ahead of its mainnet launch, Aptos Labs raised a total of $150 million in July to support further development of its programming language, as well as further expand its team and continue to develop ecosystem funds designed to attract developers and grow their community.

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