PANews reported on June 11th that decentralized exchange PancakeSwap announced the launch of a one-click cross-chain exchange feature, Crosschain Swaps, based on the Across protocol. The launch of this feature aims to address a key issue regarding user experience in decentralized finance (DeFi).
Previously, if users wanted to exchange assets between different blockchains, they had to use complex blockchain Bridges or other external third-party infrastructure, which was cumbersome and incurs additional costs. Nowadays, users of PancakeSwap can directly complete token swaps among BNB Chain, Arbitrum and Base chains on the platform interface, without the need for cross-chain Bridges or redirection to external applications. This feature supports all tokens with liquidity on PancakeSwap, simplifying the traditional multi-step cross-chain operation to a single click and reducing the transaction confirmation time to within seconds.
The head of PancakeSwap stated that this move aims to eliminate the inter-chain liquidity fragmentation problem faced by DeFi users and lower the threshold for multi-chain participation. Intent-based cross-chain exchange uses a decentralized relay network to settle transactions in real time, eliminating the need to lock assets in contracts. This reduces the risk of attacks, enhances security, and provides users with a smoother and faster experience.
Furthermore, for institutions, this intent-based cross-chain exchange will make DeFi infrastructure safer, faster, and easier to integrate with existing systems, and is expected to trigger a new wave of large-scale adoption of DeFi by institutions.
Related topic:
