The PancakeSwap team has proposed a supply cap alongside new features that will enhance the utility of its token.

Recently, Binance has established a $500 million fund to help the Web3 economy and cryptocurrency start-ups in general. On Monday, Binance Labs, the world’s largest crypto exchange’s venture capital and investment arm, made a strategic investment in PancakeSwap. PancakeSwap is a decentralized exchange (DEX) based on the BNB Chain that uses the automated market maker (AMM) approach to trade BEP-20 tokens.

PancakeSwap is an automated market maker (AMM), a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. The PancakeSwap token CAKE is a BEP20 token that originally launched on Binance Smart Chain. The main function of CAKE is to incentivize the liquidity provision to the PancakeSwap platform.

PancakeSwap has been a big player in the DEX, or decentralized exchange sector, for quite some time. A native to BNB Chain, and only slightly different than some other established platforms like UniSwap, PancakeSwap uses BEP20 tokens, a specific token originally developed by Binance. Even with the capability guidelines of the BEP20 standard, PancakeSwap makes it possible for users to swap coins for other coins without the use of a middleman. The platform cleverly markets itself with three ways users can try their hand at crypto: trade, earn, win.

Blockchain media firm CryptoDiffer compiled a list of the top 15 decentralized exchanges (DEXs) by the number of users in the last 30-days.

Since breaking out from a long-term descending resistance line, PancakeSwap (CAKE) has shown several bullish signs and is attempting to create a higher low.

The developers of the largest decentralized exchange built on the BNB Beacon Chain (formerly BSC) network initiated an important vote in accordance with which it is proposed to reduce the number of native CAKE tokens being sent to farm pools directly on PancakeSwap.

The price of PancakeSwap’s native cryptocurrency – CAKE – skyrocketed by as much as 9 percent today as Binance Labs revealed a strategic investment into the decentralized exchange.

PancakeSwap is an automated market maker (AMM), decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. The main function of CAKE is to incentivize the liquidity provision to the PancakeSwap platform

PancakeSwap is the world’s third most popular decentralized cryptocurrency exchange providing users with fast transactions and low fees of 0.25%.

Despite the rally, the token is still 36% below $7.46 a month ago after a challenging May for the crypto markets.

PancakeSwap is an automated market maker (AMM) – a decentralized finance application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. The PanakeSwap token CAKE is a BEP20 token that originally launched on binance smart chain. The main function of CAKE is to incentivize the liquidity provision to the PancakeSwap platform. CAKE can also be used to enter a lottery on PancakeSwap.