Binance Labs Invested Huge Amount in Pancakeswap Token

Binance Funding: Binance Labs has announced that it has invested an undisclosed amount in Pancakeswap

Binance Labs, A venture capital and incubation arm of Binance Company, has invested an undisclosed amount in PancakeSwap’s utility and administration token CAKE. 

Binance says the investment will provide technical and marketing support as part of a wider push for blockchain adoption as Web 3.0  transforms the Internet. Binance Funding on PancakeSwap Token CAKE.

PancakeSwap uses an Automated Market Maker (AMM) with constantly updating exchange rates to bypass the need for order books or to rely on central trading markets like Binance and Coinbase

According to the project’s website, the CAKE token enables a variety of functions, including voting, stocking, and agriculture.

The cake is built on Binance’s own BNB Smart Chain (BSC) using BEP-20 tokens and competes with Uniswap (UNI) and SushiSwap (SUSHI)