Recently, one of the great launches within the cryptomarket was the Aptos blockchain, which came full of promises to become one of the great tools in the sector to build fast and secure solutions. While the launch seems not to have been as positive as expected, the market seems to have not been shaken and is still betting on Aptos as a new solution, as in the case of PancakeSwap. PancakeSwap is one of the most well-known decentralized finance (DeFi) platforms and it is looking to increase its operating capacity and expand its business. One of the bets for this expansion? Precisely the recently launched Aptos. PancakeSwap’s idea is to use Aptos to offer the solutions it already has on its native blockchain (Binance Smart Chain), as announced on its Twitter.
“Proposal for the launch of PancakeSwap on Aptos Chain. Cozinha proposes to launch CAKE and four of our main features (Swap, Farm, Pools and IFO) at Aptos.”
📣 Proposal for PancakeSwap deployment to Aptos Chain 🐇 The kitchen proposes to deploy CAKE and four of its main features (Swap, Farm, Pools and IFO) on Aptos 👉 Read the proposal: https://t.co/hFvyCp42em 🫂 Join our AMA : 21 Oct 1100 UTC ⏰ Voting starts: 21 Oct 1200 UTC pic.twitter.com/Vat49Vv9qq
— PancakeSwap 🥞 #BSC (@PancakeSwap) October 20, 2022
As it is a DeFi project, PancakeSwap’s proposal will be voted on by the community, which needs to have a majority agreement with the start of this expansion. On its official website, PancakeSwap elaborated a little more on choosing Aptos to be the basis for this expansion. On the website, PancakeSwap talks about how it grew and gained strength in BNB Chain, establishing itself as one of the leaders of decentralized exchanges, with several products also market leaders.
“Today we are really excited to introduce our first multichain native proposal where CAKE will be developed on another network – Develop PancakeSwap natively for Aptos!” , said the project.
PancakeSwap betting on the advantages of Aptos
In the article, which explains to investors why the choice of Aptos for the project. According to PancakeSwap, Aptos promises to be a 1-tier network that offers low transaction fee with a high capacity of transactions per second, promising more than 100 thousand TPS (transactions per second). It does this through something called parallel execution, a technique relatively among blockchains, but one that many believe is a solution to scalability. PancakeSwap also believes that the ecosystem of Aptos developers, including some Web3 veterans such as ex-Meta (Facebook) members, provides a “vibrant” environment with great potential for partnerships for PancakeSwap. Finally, they state that the PancakeSwap team develops a strong relationship with the Aptos team and is working directly with them to develop several products. While some, particularly the PancakeSwap team, are excited, not everyone is happy with the idea.
Investors show uncertainty with the expansion to Aptos
The problem is that Aptos is quite recent, literally having been launched this week. As a result, there was no time for the project to be really tested in a real situation, which is worrying for any investor.
“I disagree with this proposal. We don’t know the Aptos network well enough, bridge hacks, exploits or dapp functions even less. If Pancake really wants to do this, just wait until next year, see what’s happening first. Too risky right now.”
Disagree on this proposal. We don’t know aptos chain good enough , bridge hack , exploit or function and dapp is way less. If pancake want yo do, just wait for next year to see what’s going on. High risk in aptos from what i have seen. Take a while and wait — Phisith Siriungcanawong (@Kwinsiri1) October 20, 2022
As the DeFi market itself, precisely because of its novelty, it is not completely secure due to the many problems that have not yet been discovered. Problems with bridging exploits in multi-chain operations have become endemic to the crypto industry in recent months, with millions of dollars being lost in these attacks.
“I’m not sure if it’s a good decision as the Aptos blockchain is really quite recent. Building bridges to a new blockchain will open up opportunities for hackers.”
PancakeSwap customer vents on Twitter about Aptos. Reproduction. As a result, Aptos continues to draw a lot of attention from many who believe in the project’s potential, but also raising an equal amount of concern from some investors.
