Singapore, Singapore, September 18, 2024, Chainwire
Highlights:
- PancakeSwap has launched its first Preliminary Farm Providing (IFO) on Arbitrum, marking a key milestone in its multi-chain growth technique.
- IFO will characteristic Eigenpie, the main Liquid Restaking protocol on EigenLayer.
- The IFO will run from 10:15 AM UTC on 24 September 2024 to 10:15 AM UTC on 25 September 2024.
- Methods to take part embody a Primary IFO for all CAKE holders and a Public IFO with discounted charges for veCAKE holders.
PancakeSwap has introduced its first Preliminary Farm Providing (IFO) on the Arbitrum Community. The occasion will highlight Eigenpie, a widely known Liquid Restaking Protocol on EigenLayer with over $1B in TVL, and marks a big step in PancakeSwap's continued growth.
The subsequent IFO will happen from 10:15am UTC on September twenty fourth, 2024 to 10:15am UTC on September twenty fifth, 2024. This initiative marks a big second for PancakeSwap because it introduces its widespread IFO mannequin to Arbitrum, following the profitable earlier launches of swaps, yield farming, prediction markets, and perpetual buying and selling on the community.
Eigenpie is an modern method within the DeFi area. Constructed on EigenLayer, Eigenpie is a Liquid Restaking protocol that enables customers to restake ETH or Liquid Staking Token (LST). The restakeed property are used to validate different providers, permitting customers to take care of liquidity through Liquid Restaking Token (LRT).
On the coronary heart of this IFO is the EGP token, which serves as Eigenpie's native governance token. EGP permits holders to take part in protocol governance, doubtlessly earn rewards for his or her involvement, and scale their affect via vote-locked EGP (vlEGP).
Participation within the IFO will happen via two important channels: The Primary IFO will probably be open to all CAKE holders. The Public IFO will present unique entry with a reduced participation payment to those that maintain veCAKE on the BNB chain. Members might want to lock up CAKE to obtain veCAKE, which they are going to use to take part within the IFO.
Disclaimer and Danger Warning: This content material is for informational and academic functions solely and doesn’t represent monetary, authorized, or skilled recommendation. It’s not a suggestion to buy any particular services or products. Please seek the advice of a certified advisor for individualized steerage. Participation in an IFO entails dangers and could also be restricted in some places. Please make sure you adjust to native legal guidelines and laws earlier than taking part.
About PancakeSwap
PancakeSwap is a number one multi-chain decentralized change working on an automatic market maker (AMM) mannequin and is out there on 9 chains: BNB Chain, , Aptos, Polygon zkEVM, zkSync Period, Arbitrum One, Linea, Base, and opBNB. Launched in 2020, PancakeSwap is likely one of the hottest DEXs within the cryptocurrency business as a consequence of its low buying and selling charges, quick buying and selling speeds, and user-friendly platform. With a cumulative buying and selling quantity of over $828 billion and a complete locked worth of over $1.58 billion, PancakeSwap is the business's main multi-chain DEX. For extra data, please go to https://pancakeswap.finance/.
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