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 growth technique.
- IFO will characteristic Eigenpie, the main fluid trade 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 fundamental 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 give attention to Eigenpie, the well-known Liquid Restaking Protocol on EigenLayer with over $1 billion TVL, marking an necessary step in PancakeSwap's continued growth.
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 widespread 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 strategy within the DeFi house. Constructed on prime of EigenLayer, Eigenpie is a Liquid Restaking Protocol that enables customers to restake their ETH or Liquid Staking Tokens (LST). The restored asset is used to validate different providers 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, probably incomes rewards for involvement and amplifying their affect via the vote-locked EGP (vlEGP).
Participation within the IFO can be accessible via two major channels. Fundamental IFO can 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 charge. Members might want to lock CAKE to obtain veCAKE, which they are going to then use to hook up with IFO.
Disclaimers and Threat 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 particular services or products. Seek the advice of with certified advisors who will offer 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 trade that operates on an computerized market maker (AMM) mannequin and is offered on 9 chains: BNB Chain, , Aptos, Polygon zkEVM, zkSync Period, Arbitrum One, Linea, Base and opBNB. Launched in 2020, PancakeSwap is among the hottest DEXs within the cryptocurrency trade 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 complete locked worth, making it the main multichain DEX within the trade. For extra data, customers can go to https://pancakeswap.finance/.
ContactPancakeSwapkakao@pancakeswap.com
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