June 29 (Cointime) - PancakeSwap, a decentralized exchange (DEX), is set to launch on the Polygon zkEVM network as part of its expansion plans to increase its user base and generate more protocol revenues. Unlike traditional exchanges, PancakeSwap uses smart contracts to process trading, lending, and lottery services for users on the BNB Chain, Ethereum, and Aptos blockchains.

The DEX currently holds over $1.54 billion worth of tokens and offers some of the lowest fees among DEXs. By deploying on Polygon zkEVM, PancakeSwap users can expect faster transactions and lower fees. The privacy-focused layer 2 blockchain has attracted over $28 million in total value locked (TVL) since its beta mainnet launch in March.