Binance Labs Makes Strategic Investment in PancakeSwap

Binance Labs, the venture capital and incubation arm of Binance, has made an investment in PancakeSwap’s utility and governance token, $CAKE. Launched in September 2020, PancakeSwap has grown to be the biggest dApp on BNB Chain, with daily active users of over 400,000. The spokesperson at Binance Labs said: “PancakeSwap has been leading the development and mass adoption of BNB Chain. Given that PancakeSwap is the most widely used dApp and the DeFi project with the highest TVL on BNB Chain.