More than 690 000 users accessed their domain names on the platform

​PancakeSwap exchange adds ENS support

11.05.2023 - 15:30

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3 min

What’s new? Decentralized cryptocurrency exchange (DEX) PancakeSwap has integrated the Ethereum Name Service (ENS). According to a statement, more than 690 000 users can now view their domains on the platform and use them to make transactions. This can be done on the PancakeSwap website in the “Wallet” or “Profile” sections.

What is known about PancakeSwap? DEX was launched in 2020 on the Binance Smart Chain. In addition to trading, it allows one to earn by participating in liquidity pools. The native token CAKE can be used to manage the protocol, vote on offers, earn money from token burning, and receive discounts on fees for trading on the exchange.

As of May 11, 14:40 UTC, CAKE is trading at $1,88 on Binance, down by 2,54% in 24 hours and 25,6% in a week, according to aggregator CoinGecko.

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What is known about ENS? It is an open-source blockchain protocol developed in 2017. It allows users to assign a digital identifier to their wallet. Each domain name in the service is a non-fungible token that ends in .eth and can act as an address, cryptographic hash, or website URL.

In June 2022, the venture capital arm of the Binance exchange invested in CAKE. Its spokesperson noted that PancakeSwap is the largest decentralized application (dApp) on the BNB Chain, without disclosing the amount of investment in the token.

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