Engineers working on the well-known decentralized exchange (DEX) PancakeSwap reportedly put up a proposal for the deployment of its mainnet on layer-1 blockchain Aptos.

Specifically, PancakeSwap, at the moment, is operating upon the BNB Chain and processes approximately $47 million equivalent of trading volume on a daily basis. 

Nonetheless, its developers have rolled out the DEX’s first multichain migration proposal following the release of Aptos on October 17th.

“Aptos is a next-generation L1 with low transaction costs, high transaction throughput, and fast transaction speeds, utilizing a novel and developer-optimized approach to parallel execution. PancakeSwap has developed a strong relationship with the Aptos team, and a large number of its developer ecosystem are suitable for PancakeSwap partnerships and products.”

If the proposal is greenlighted, engheers will carry out the deployment of four main functionalities of the DEX, including swaps, farms, pools and initial farm offerings on Aptos by Q4 this year. 

As revealed by developers, this is an initiative to make sure that PancakeSwap is able to quickly establish itself as the pioneering DEX on Aptos.

The DEX’s native token, CAKE, will also be natively available on the Aptos blockchain. A vote for the matter will start on the platform tomorrow.

Aptos was reportedly established by former Meta staff Mo Shaikh and Avery Ching, who also assumed a role in the firm’s failed stablecoin project, Diem. In July, Aptos Labs secured $150 million at a $1 billion valuation in a round led by FTX Ventures and Jump Crypto.

The initiative has reeled in a significant amount of attention from developers because of its backing and claim of possessing the ability to process 130,000 transactions per second (TPS). 

However, at the time of publication, the Aptos mainnet is only handling about 16 TPS, though it’s notably higher than the four TPS witnessed when its mainnet first launched three days prior.