Singapore, Singapore, September 18th, 2024, Chainwire
Key Takeaways:
- PancakeSwap is launching its first Preliminary Farm Providing (IFO) on Arbitrum, marking a major milestone in its multichain growth technique.
- The IFO will function Eigenpie, a number one Liquid Restaking Protocol on EigenLayer.
- The IFO can be carried out from 10:15 AM UTC on September twenty fourth, 2024, to 10:15 AM UTC on September twenty fifth, 2024.
- Participation strategies embrace a Fundamental 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 widely 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 major second for PancakeSwap because it introduces its in style IFO mannequin to Arbitrum, following earlier profitable launches of Swap, Yield Farming, Prediction Markets, and Perpetual Buying and selling on the community.
Eigenpie represents an revolutionary method within the DeFi area. Constructed on EigenLayer, Eigenpie is a Liquid Restaking Protocol that allows customers to restake their ETH or Liquid Staking Tokens (LSTs). The restaked asset is used to validate different providers whereas permitting customers to take care of liquidity by way of 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 vote-locked EGP (vlEGP).
Participation within the IFO can be accessible by two major channels. The Fundamental IFO can be open to all CAKE holders. For these with veCAKE on BNB Chain, a Public IFO will present unique entry with a decreased participation price. Individuals might want to lock CAKE to obtain veCAKE, which they’ll then use to affix 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 isn’t a suggestion to buy any particular services or products. Please seek the advice of with certified advisors for customized steering. Participation within the IFO includes 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 alternate that operates on an automatic market maker (AMM) mannequin and is accessible 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 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 whole worth locked, making it a number one multichain DEX within the business. For extra info, customers can go to https://pancakeswap.finance/.
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