PancakeSwap launches Crosschain Swaps… Supports one-click asset transfer between blockchains

The decentralized exchange (DEX) PancakeSwap announced on the 11th the launch of a new feature, 'Crosschain Swaps,' which simplifies asset exchange between blockchains. This feature allows users to swap tokens between chains with just one click within the PancakeSwap interface, without the need for separate bridging services or external applications.

The new feature can be used easily without moving to a different platform. Users simply access PancakeSwap's swap page, specify the input/output tokens and chains, and approve the transaction. Completed transactions can be checked through the wallet's records. Currently supported chains are BNB Chain, Arbitrum (ARB), and Base (BASE), totaling three options.

Crosschain Swaps operate in the same way as conventional swaps, and most transactions are completed within a few seconds up to a maximum of one minute. Available tokens are limited to assets with liquidity pools on PancakeSwap. No additional platform fees are charged. However, a separate bridge fee is incurred by relayers of the Across protocol that relays the transactions; this fee is automatically calculated, similar to gas fees.

The technical foundation is provided by the Across protocol. Across achieves both security and scalability through an optimistic settlement structure based on UMA oracle. To date, cumulative trading volume exceeds $2.3 billion, with over 16 million transactions, accounting for about 20% of all bridging transactions.

A PancakeSwap representative said, “We expect that this feature will significantly lower the entry barrier for decentralized finance (DeFi) and greatly improve user convenience. The focus is on providing a unified interface while minimizing the complexity and delay of cross-chain asset transfers.”

Hart Lamber, the co-founder of Across, commented, “PancakeSwap has one of the most intuitive interfaces in DeFi. Users can swap in the same way without knowing the concept of bridging, and all processes are executed automatically within the system.”