Finance

Binance leads the $ 1.6 million financing round for MOUND

binance-leads-the-1-6-million-financing-round-for-mound

Binance leads the $ 1.6 million financing round for MOUND

Binance Labs, the venture capital and incubator arm of the leading cryptocurrency exchange Binance, has closed a $ 1.6M strategic funding round for MOUND.

MOUND is the team behind Pancake Bunny, a revenue platform from the Binance Smart Chain. Last month, Pancake Bunny saw TVL (Total Locked Out) increase by more than $ 1 billion and daily active users by over 20,000.

The move to fund the project is part of Binance Labs’ commitment to promoting DeFi and blockchain initiatives that foster innovation. In addition to Binance Labs, the financing round attracted other investors such as IDEO CoLab, Andrew Lee and SparkLabs.

Upon investment, MOUND will be able to accelerate the delivery of its new state-of-the-art features and products, including cross-chain collateral and smart safes, and optimize the advancement of the Pancake Bunny platform.

Wei Zhou, Head of Binance Labs, commented on the partnership:

We have been impressed with the phenomenal growth at MOUND (Pancake Bunny), especially MOUND’s ability to create value for users of the Binance Smart Chain (BSC). Our investment decision was based on our high evaluation of the execution and product competence of the MOUND team. We look forward to taking DeFi on BSC to the next level with Pancake Bunny.

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Steven Gregory