Singapore, Singapore, September 18th, 2024, Chainwire
Key Takeaways:
- PancakeSwap is launching its first Preliminary Farm Providing (IFO) on Arbitrum, marking a vital milestone in its multichain enlargement technique.
- The IFO will function Eigenpie, a number one Liquid Restaking Protocol on EigenLayer.
- The IFO shall be carried out from 10:15 AM UTC on September twenty fourth, 2024, to ten:15 AM UTC on September twenty fifth, 2024.
- Participation strategies come with a Fundamental IFO for all CAKE holders and a Public IFO with diminished charges for veCAKE holders.
PancakeSwap has unveiled its first-ever Preliminary Farm Providing (IFO) at the Arbitrum community. This tournament will highlight Eigenpie, a well known Liquid Restaking Protocol on EigenLayer with over $1B TVL, marking the most important step in PancakeSwap’s ongoing enlargement.
The impending IFO will run from September 24, 2024, at 10:15 AM UTC to September 25, 2024, at 10:15 AM UTC. This undertaking marks a vital second for PancakeSwap because it introduces its well-liked IFO fashion to Arbitrum, following earlier a hit launches of Change, Yield Farming, Prediction Markets, and Perpetual Buying and selling at the community.
Eigenpie represents an leading edge method 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 services and products whilst permitting customers to deal with liquidity by way of a Liquid Restaking Token (LRT).
The center-piece of this IFO is the EGP token, which serves as Eigenpie’s local governance token. EGP permits its holders to take part in protocol governance, probably earn rewards from engagement, and enlarge their affect via vote-locked EGP (vlEGP).
Participation within the IFO shall be available via two number one channels. The Fundamental IFO shall be open to all CAKE holders. For the ones with veCAKE on BNB Chain, a Public IFO will supply unique get entry to with a discounted participation charge. Members will want to lock CAKE to obtain veCAKE, which they’re going to then use to sign up for the IFO.
Disclaimer and Chance Caution: This content material is for informational and academic functions most effective and does now not represent monetary, prison, or skilled recommendation. It’s not a advice to buy any explicit services or products. Please seek advice from certified advisors for customized steerage. Participation within the IFO comes to dangers and could also be limited in some spaces. Make sure you conform to native regulations and rules earlier than taking part.
About PancakeSwap
PancakeSwap is a number one multichain decentralized alternate that operates on an automatic marketplace maker (AMM) fashion and is to be had throughout 9 chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Technology, Arbitrum One, Linea, Base, and opBNB. Introduced in 2020, PancakeSwap is likely one of 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 overall worth locked, making it a number one multichain DEX within the trade. For more info, customers can seek advice from https://pancakeswap.finance/.
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