Binance invested in decentralized exchange PancakeSwap

Home / Binance invested in decentralized exchange PancakeSwap

The venture capital arm of cryptocurrency exchange Binance has invested in decentralized exchange (DEX) PancakeSwap.
Amid this news, the exchange’s own CAKE token rose nearly 10%.
According to the company, Binance Labs intends to continue investing in the further development of PancakeSwap, particularly in marketing the site and supporting its community.

The amount of the investment was not disclosed.
Launched in September 2020, PancakeSwap is the largest decentralized application developed on the BNB Chain and has over 400,000 active users per day.

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