Introducing CAKE token bridging to Aptos with PancakeBridge and LayerZero OFT!
Product
2022-12-13
Bridge CAKE between Aptos and BNB Smart Chain
Dear PancakeSwap community and CAKE holders, today Chefs are thrilled to announce a new feature in our expansion and deployment on Aptos — the Aptos PancakeBridge, a seamless way to bridge CAKE tokens to Aptos. We believe this is a monumental step in the cross-chain journey of the CAKE and PancakeSwap ecosystem.
What is Aptos PancakeBridge?
Earlier this year, the Kitchen partnered with Stargate to bring a user-friendly and low-cost bridge for users to bridge major tokens from other EVM chains to BNB Smart Chain. To learn more about the PancakeBridge for EVM blockchains check out the article here.
We partnered with LayerZero to offer PancakeSwap users the same easy-to-use and low-fee bridging experience between BNB Smart Chain and Aptos. With the new Aptos PancakeBridge, you will be able to bridge CAKE and USDT* between BNB Smart Chain and Aptos. Support for other major assets are coming soon.
*Please note that the bridged USDT will be wrapped by LayerZero
Bridge CAKE Token Between Aptos and BNB Smart Chain
Powered by LayerZero’s OFT (Ominichain Fungible Tokens) standard, CAKE is now a natively multichain token across BNB Smart Chain and Aptos. Aptos PancakeBridge can enable users to bridge their CAKE between these two blockchains with a 1:1 ratio, Empowering users to explore a diverse and exciting new ecosystem while enjoying a consistent, unified PancakeSwap experience all while using the same, familiarly tasty CAKE token.
A quick run through of how to bridge your CAKE from BNB Smart Chain to Aptos:
1. Visit http://bridge.pancakeswap.finance/aptos
2. Connect both an EVM wallet and an Aptos wallet. Or select a wallet that supports both networks.
3. Choose the number of CAKE you want to bridge to Aptos.
4. Leave “Gas on destination” as default and click “Transfer”. Review the details and approve the request from your wallet pop up.
5. The confirmation should take a few minutes. You can track the progress at the top of the page alongside a progress bar.
*Please note that you may need to claim your CAKE manually after bridging is successful. This is due to the special design of Aptos tokens
To learn more about how to use the bridge and CAKE bridging, read our docs here.
What is LayerZero OFT?
The PancakeBridge utilizes the Omnichain Fungible Token (OFT) standard to seamlessly integrate CAKE into different chains. The Omnichain Fungible Token (OFT) standard by LayerZero offers critical improvements to token minting, usability, and end-user experience. For example, token issuers own all their contract, decide on network fees, maintain responsibility for their assets’ security, and can incorporate other strategies directly into the token contract. Users can now use the PancakeBridge to swiftly and securely bridge CAKE, a now multchain token, to and from BNB Smart Chain and Aptos.
CAKE Trading is LIVE!
With CAKE being bridged to Aptos, CAKE token trading is now live on Aptos! As of writing, the following trading pairs are now LIVE for trading and liquidity provisioning on Aptos:
- CAKE-APT
- CAKE-USDC (LayerZero)
- CAKE-USDC (Celer)
You can now trade CAKE on Aptos, and provide liquidity in the above trading pairs to earn 0.17% of the volume as trading fees!
*Please note that at the beginning of the launch, it will be more volatile as marketmakers and arbitragings have not matured. Please proceed with caution when adding liquidity.
More is Coming SOON™ !
With CAKE on Aptos, we will soon launch our most iconic suite of products including but not limited to: Farms, Syrup Pools and IFO! Users can earn CAKE on Aptos, stake your CAKE on Aptos to earn more tokens, and use your CAKE on Aptos to purchase other project tokens.
Stay tuned on our social media Twitter, Telegram and our Discord Server to learn more about the upcoming launch.
Stack ’em
The Chefs 🐰🥞
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