PancakeSwap, the second-largest decentralized exchange protocol, has launched on Arbitrum One, an Ethereum Layer 2 scaling network, as it continues its multichain expansion.

Arbitrum One will help users with lower gas fees and faster transactions, PancakeSwap said Thursday. As an Ethereum Layer 2, Arbitrum One processes transactions on its network before summarizing them on the main Ethereum blockchain, which helps speed up transactions and reduce fees. 

PancakeSwap will first make the swap and liquidity provisioning features available on Arbitrum One. Swap in decentralized finance or DeFi refers to exchanging one token for another, while liquidity provisioning involves adding funds to a pool to facilitate trading and earn rewards.

After the swap and liquidity provisioning …