Singapore, Singapore, 18 September 2024, Chainwire
Key takeaways:
- PancakeSwap is launching its first Preliminary Farm Providing (IFO) on Arbitrum, marking a serious milestone in its multi-chain enlargement technique.
- IFO will function Eigenpie, the main fluid alternate protocol on EigenLayer.
- The IFO will run from 10:15 UTC 24 September 2024 to 10:15 UTC 25 September 2024.
- Modes of participation embrace a primary IFO for all CAKE holders and a public IFO with diminished charges for veCAKE holders.
PancakeSwap has launched its first ever Preliminary Farm Providing (IFO) on the Arbitrum community. The occasion will concentrate on Eigenpie, the well-known Liquid Restaking Protocol on EigenLayer with over $1 billion TVL, marking an essential step in PancakeSwap's continued enlargement.
The upcoming IFO will run from September 24, 2024 at 10:15 UTC to September 25, 2024 at 10:15 UTC. This enterprise marks a major second for PancakeSwap because it introduces its in style IFO mannequin to Arbitrum following the earlier profitable launches of Swap, Yield Farming, Prediction Markets and Perpetual Buying and selling on the community.
Eigenpie represents an modern method within the DeFi area. Constructed on high of EigenLayer, Eigenpie is a Liquid Restaking Protocol that permits customers to restake their ETH or Liquid Staking Tokens (LST). The restored asset is used to validate different companies whereas permitting customers to take care of liquidity via the Liquid Restaking Token (LRT).
The centerpiece of this IFO is the EGP token, which serves as Eigenpie's native administration token. EGP permits its holders to take part within the administration of the protocol, doubtlessly incomes rewards for involvement and amplifying their affect via the vote-locked EGP (vlEGP).
Participation within the IFO will probably be accessible via two main channels. Fundamental IFO will probably be open to all CAKE holders. For many who have veCAKE on the BNB Chain, the general public IFO will present unique entry with a diminished participation payment. Members might want to lock CAKE to obtain veCAKE, which they are going to then use to hook up with IFO.
Disclaimers and Danger Warnings: This content material is for informational and academic functions solely and doesn’t represent monetary, authorized or skilled recommendation. This isn’t a advice to purchase a selected services or products. Seek the advice of with certified advisors who will give you particular person recommendation. Participation in IFO carries dangers and could also be restricted in some areas. Please make sure you adjust to native legal guidelines and rules earlier than collaborating.
About PancakeSwap
PancakeSwap is a number one multi-chain decentralized alternate that operates on an Automated Market Maker (AMM) mannequin and is out there on 9 chains: BNB Chain, Ethereum, 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 result 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 complete locked worth, making it the main multichain DEX within the business. For extra info, customers can go to https://pancakeswap.finance/.
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