PancakeSwap v3 (Polygon zkEVM)

About PancakeSwap v3 (Polygon zkEVM)

Polygon zkEVM is a Layer Two (L2) scaling solution for Ethereum, harnessing the power of zero-knowledge (ZK) proofs while maintaining compatibility with the Ethereum Virtual Machine (EVM). This technology enhances the functionality of Ethereum smart contracts and dApps, reducing gas costs and increasing network throughput. By seamlessly deploying existing contracts and offering lower transaction fees, Polygon zkEVM has gained substantial traction, with over $28M in TVL since its beta mainnet launch on March 27, 2023. The Polygon network is one of the most widely adopted scaling solutions within the Ethereum ecosystem, hosting over 3,000 applications, processing one billion+ transactions, serving 100 million+ unique user addresses, and securing assets worth ~$5 billion.

Introducing v3 Swap and Liquidity Provision on Polygon zkEVM

PancakeSwap v3 on Polygon zkEVM introduces Swap and Liquidity Provision functionalities, allowing users to seamlessly trade their favorite tokens and participate in liquidity provision directly on our platform. Whether you're a trader looking to swap tokens quickly or a liquidity provider seeking passive income, PancakeSwap v3 on Polygon zkEVM offers a frictionless experience.

Gas Fees

As such, the first thing is to make sure you have enough BNB to pay for the gas fee of the on-chain transactions. Typically, gas fee fluctuates depending on the number of transactions in the queue, if there are more transactions, a higher gas fee may be required to push through the transaction. On BNB Smart Chain, the gas fee typically ranges from cents to a dollar USD in BNB. 

Transaction Fees

If your swapping action still doesn't go through and it is displaying an error for you to revise the slippage -- you may want to check if the tokens you are trying to swap has any fees and restrictions on transactions.

It is not uncommon for tokens on BNB Smart Chain to include a transaction fee in their contracts, usually these fees could be used for burning, funding a treasury of a fair launch project -- for example, this APX token has an 1% tax on every transaction for sending to a burn address, such that more transactions would mean more burning, accruing value to APX token holders.

With the transaction fee, whether it is inclusive (a portion of the swap amount is sent elsewhere than your address so the output is less than expected for the estimated input) or exclusive (requiring an additional transfer from your address to send extra tokens so the input is more than expected for the estimated output), it affects the input and output amount that you agree for signing the transaction. In many cases, the transaction cannot meet the input and output requirements because of the tax.

Swapping with Transaction Fees

Before you swap any tokens, make sure you have visited their website to understand if they have a transaction fee mechanism (or tax as many projects put it). If there is, make sure you set a slippage that is sufficient to accommodate the transaction fee -- e.g. if there is a transaction fee of 5%, your slippage will have to be set at at least 5% plus the normal trading slippage depending on your trading amount and the token's liquidity, say 5.5%-6%.

In some extreme cases including some scams, some tokens even have a block on most or all transfers on chain, or only allowing certain addresses to sell, in such case it is impossible to swap the token successfully. Do learn about the token you are trying to swap and be aware of any fees and restrictions!