Singapore, Singapore, September 18th, 2024, Chainwire
Key Takeaways:
- PancakeSwap is launching its first Preliminary Farm Providing (IFO) on Arbitrum, marking a big milestone in its multichain growth technique.
- The IFO will function Eigenpie, a number one Liquid Restaking Protocol on EigenLayer.
- The IFO will likely be performed from 10:15 AM UTC on September twenty fourth, 2024, to 10:15 AM UTC on September twenty fifth, 2024.
- Participation strategies embody a Primary IFO for all CAKE holders and a Public IFO with decreased charges for veCAKE holders.
PancakeSwap has unveiled its first-ever Preliminary Farm Providing (IFO) on the Arbitrum community. This occasion will highlight Eigenpie, a well known Liquid Restaking Protocol on EigenLayer with over $1B TVL, marking an vital step in PancakeSwap’s ongoing growth.
The upcoming IFO will run from September 24, 2024, at 10:15 AM UTC to September 25, 2024, at 10:15 AM UTC. This enterprise marks a big second for PancakeSwap because it introduces its fashionable IFO mannequin to Arbitrum, following earlier profitable launches of Swap, Yield Farming, Prediction Markets, and Perpetual Trading on the community.
Eigenpie represents an progressive strategy within the DeFi house. Constructed on EigenLayer, Eigenpie is a Liquid Restaking Protocol that permits customers to restake their ETH or Liquid Staking Tokens (LSTs). The restaked asset is used to validate different companies whereas permitting customers to keep up liquidity through a Liquid Restaking Token (LRT).
The centerpiece of this IFO is the EGP token, which serves as Eigenpie’s native governance token. EGP permits its holders to take part in protocol governance, doubtlessly earn rewards from engagement, and amplify their affect by means of vote-locked EGP (vlEGP).
Participation within the IFO will likely be accessible by means of two major channels. The Primary IFO will likely be open to all CAKE holders. For these with veCAKE on BNB Chain, a Public IFO will present unique entry with a decreased participation payment. Contributors might want to lock CAKE to obtain veCAKE, which they may then use to hitch the IFO.
Disclaimer and Threat Warning: This content material is for informational and academic functions solely and doesn’t represent monetary, authorized, or skilled recommendation. It isn’t a suggestion to buy any particular services or products. Please seek the advice of with certified advisors for customized steerage. Participation within the IFO entails dangers and could also be restricted in some areas. Make sure you adjust to native legal guidelines and rules earlier than taking part.
About PancakeSwap
PancakeSwap is a number one multichain decentralized trade that operates on an automatic market maker (AMM) mannequin and is on the market throughout 9 chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Period, Arbitrum One, Linea, Base, and opBNB. Launched in 2020, PancakeSwap is without doubt one of the hottest DEXs within the cryptocurrency business because of its low transaction charges, high-speed buying and selling, and user-friendly platform. PancakeSwap has over $828 billion in cumulative buying and selling quantity and over $1.58 billion in whole worth locked, making it a number one multichain DEX within the business. For extra data, customers can go to https://pancakeswap.finance/.
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