PancakeSwap Utilizes Celer Network to Create Seamless Cross-chain DEX
Last month, PancakeSwap reached a strategic partnership with Celer Network and enabled cross-chain liquidity farming using the Celer Inter-Chain Messaging (Celer IM) framework. Today, the two projects are furthering collaborations in Aptos: PancakeSwap liquidity pools have launched on Aptos with Celer-bridged tokens like USDC, USDT, WETH and BNB as key assets to start with.
Starting with Ethereum
PancakeSwap’s launch last month on Ethereum is unique in that the farming is friendly to liquidity providers (LPs) who want to avoid the high transaction costs and finality delay associated with Ethereum transactions. Through the integration with Celer IM, users can provide liquidity to PancakeSwap pools on Ethereum and harvest CAKE rewards on BNB Smart Chain.
Security has been a major factor in PancakeSwap’s decision-making process for bridging partners, and Celer’s hybrid model of proof-of-stake and optimistic-roll-up, as well as their sophisticated contract-level safeguard measures poised to counter security risks in a multitude of scenarios, together offer a design-level assurance against some worst-case scenarios.
To understand how Celer IM helps developers build one-click application logics, the diagram below from their documentation illustrates the simple flow of message passing across two chains.
Celer IM Design Patterns, Source: The Celer IM Documentation
Celer IM’s easy-to-integrate SDK enables developers to build inter-chain-native DApps with efficient liquidity utilization, coherent application logics, and shared states. On the user side, it also allows liquidity provision with one single click, removing complicated interactions with multiple blockchains for an easy, efficient, and low-cost transaction experience for all.
Following the Ethereum initiative with Celer Network, PancakeSwap further enhanced the collaboration by deploying Celer-bridged assets on PancakeSwap Aptos for pools including APT-USDC, WETH-USDC, USDT-USDC, and BNB-USDC.
PancakeSwap aims to recreate the same smooth BNB Smart Chain user experience on Ethereum and Aptos. Following its effort to launch cross-chain liquidity farming on Ethereum, PancakeSwap has recently expanded to the Aptos blockchain by deploying swaps, liquidity, and soon farms, pools, and initial farm offerings features. The launch of the initial pools benefited greatly from Celer cBridge, a top asset bridge supporting 30+ blockchains, with several key assets they brought from Ethereum and BNB Smart Chain to Aptos. PancakeSwap is excited to see Celer bridge more bluechip assets to Aptos and lay a solid DeFi foundation for ecosystem growth.
The strategic partnership with Celer Network has enabled users to provide liquidity on Ethereum and Aptos in a seamless, trust, and transparent way. Celer’s tech advancement, structural feedback, and community support have enabled PancakeSwap to further develop its effort in building the leading multi-chain decentralized exchange (DEX).
“I have been working closely with the Celer Network team for quite some time. Their technical expertise, professionalism, and commitment to bringing blockchain technology to mass adoption are truly inspiring” said Chef Mochi, Product Manager of PancakeSwap. “We are thrilled to have partnered with Celer Network to enhance our product offerings”.
About Celer Network
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native DApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
About Celer Inter-chain Message
Celer uses smart contracts that are deployed on each chain paired with the State Guardian Network, a Tendermint-based blockchain, in order to enable seamless multi-blockchain interoperability. Instead of deploying multiple isolated copies of smart contracts on different blockchains, developers can now build inter-chain-native dApps with efficient liquidity utilization, coherent application logic, and shared states. Users of Celer IM-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, without complicated manual interactions across multiple blockchains.
Learn more about Celer Network: https://www.celer.network