PandaSwap has the same team and infrastructure as Bao Finance, so doesn't need funds to cover day to day expenses. To ensure the Bao team and community has motives in line with PNDA holders 15% of the token supply is owned by the BAO community and 15% by the BAO team (with 6 year vesting). The Bao team will use the 15% dev fund to help fund ongoing project costs.

PNDA token holders can vote on how to use the remaining unissued tokens however they decide adds most value.