Launching PancakeSwap Bridge — A Partnership with Stargate
Dear CAKE Community, we’re proud to present PancakeSwap Bridge — a native asset cross-chain bridge, powered by Stargate.
This enables users or funds who are not on BNB Chain to seamlessly bridge their stablecoins over to BNB Chain, and participate in the lively PancakeSwap Community and wider BNB Ecosystem!
For the first few months, PancakeSwap will be the exclusive partner for Stargate on BNB Chain. To celebrate this, at least 100 randomly selected users (more users may be eligible, depending on bridge usage) who use the bridge in the first few weeks will be awarded $20.
Read on for more details of the integration, and on instructions on how to use the bridge.
Oh, and one last thing — all fees PancakeSwap accrues from the use of this bridge will be used in our CAKE Buyback-and-Burn. 🥞🔥
⛓ Why Cross-chain?
The mission of PancakeSwap is and has always been to be a one-stop shop for all things DeFi.
An important part of this mission is making DeFi approachable to users from all backgrounds, and we would like to share our lovely community with users beyond BNB Chain!
🌉What is PancakeSwap Bridge?
Working closely with the Stargate Finance team, PancakeSwap Bridge is a native asset cross-chain bridge.
With this integration, our users can bridge in native assets from other chains, to BNB Chain, in a single transaction (no more missing Metamask pop-ups!).
At the moment, we are supporting the following chains:
And the following assets:
As always, this is just the start — we’ll work to safely introduce more pairs and chains!
How to use the PancakeSwap Bridge?
Step-by-Step Guide:
1) Go to the PancakeSwap Bridge page here.
2) Connect your wallet by clicking on “Connect Wallet”. You can select different blockchain networks while connecting your wallet. To learn more about how to connect your wallet, check out the guide here.
3) Select the token you want to convert and the existing blockchain network in the “From” section. You can switch to a different blockchain network via the network selector on the top right corner. Then select the token you want to receive and the blockchain network you wish to receive them on. Finally, enter the amount you want to swap. (more pairs and chains will be added in future)
4) After entering the amount, you can see the fee breakdown by clicking on the dropdown arrow. Fees are 0.1% per transaction. For more details, continue reading and check the fee structure section.
5) Click on “Approve” and approve the transaction in your wallet. Once the transaction is approved, you will see this notification on the top right corner of your screen.
6) After the approval of your assets, confirm the transaction in your wallet. You will see a pending message until you confirm the transaction in your wallet.
7) Please wait for a few minutes for the completion of the transaction. You can check the timer on screen to track how much time is remaining. You can also track the transaction on the blockchain explorer. Once it shows “Finished”, check your funds on destination address and now you’re ready to explore the PancakeSwap and BNB Chain Ecosystem!
FAQs
Q. Why can we only swap some coins on a limited number of networks — will there be more support for greater pairs and networks?
The product is still in beta — we will continue to add more pairs and networks in the future.
Q. Why can’t I convert from BNB Chain to Other chains?
Right now, our aim is to grow the ecosystem on BNB Chain, and therefore we are only supporting one-way bridging from other chains to BNB Chain.
Q. Why does it take longer to confirm the transaction?
Depending on the source chain, assets will arrive on BNB Chain in less than 10 minutes. For details of your transaction, please check the “Recent Transactions” panel.
Please note, in general, PancakeSwap doesn’t have a dedicated support service. Instead, if you find yourself with a problem that has no answer here, you can ask for help on our Telegram group or Discord.
Bridging Fees💰💰💰
Every bridge transaction incurs a 0.10% (or 10bps) fee.
Of which, 0.06% (or 6bps) goes towards Stargate, as part of their Protocol Fees. The remaining 0.04% (or 4bps) goes to us.
And as their exclusive BNB Chain partner, we get 5% of their Protocol Fees, or 0.003% (or 0.3bps) on top of our Partner Fees.
All in all, we will be receiving 0.043% (or 4.3bps) for every bridge transaction. 100% of these received fees will be used for our CAKE Buyback-and-Burn.
Disclaimers/risk warnings⚠️⚠️⚠️
Both the PancakeSwap and Stargate team have tested the product for the past few weeks, but there may be some bumps and hiccups still; the product is still in beta.
We will continuously improve the experience, and welcome any feedback.
