Singapore, Singapore, September 18, 2024, Chainwire
Highlights:
Marking a key milestone in its multi-chain expansion strategy, PancakeSwap is launching its first Initial Firm Offering (IFO) on Arbitrum, featuring EigenLayer's leading Liquid Restaking protocol, Eigenpie. The IFO will run from 10:15AM UTC on September 24th, 2024 to 10:15AM UTC on September 25th, 2024. Participation options include a Basic IFO for all CAKE holders and a Public IFO with discounted fees for veCAKE holders.
PancakeSwap has announced its first Initial Farm Offering (IFO) on the Arbitrum Network. The event will spotlight Eigenpie, a well-known Liquid Restaking Protocol on EigenLayer with over $1B in TVL, and marks a significant step in PancakeSwap's continued expansion.
The next IFO will take place from 10:15am UTC on September 24th, 2024 to 10:15am UTC on September 25th, 2024. This initiative marks a significant moment for PancakeSwap as it introduces its popular IFO model to Arbitrum, following the successful previous launches of swaps, yield farming, prediction markets, and perpetual trading on the network.
Eigenpie is an innovative approach in the DeFi space. Built on EigenLayer, Eigenpie is a Liquid Restaking protocol that allows users to restake ETH or Liquid Staking Token (LST). The restakeed assets are used to validate other services, allowing users to maintain liquidity via Liquid Restaking Token (LRT).
At the heart of this IFO is the EGP token, which serves as Eigenpie's native governance token. EGP allows holders to participate in protocol governance, potentially earn rewards for their involvement, and scale their influence through vote-locked EGP (vlEGP).
Participation in the IFO will occur through two main channels: The Basic IFO will be open to all CAKE holders. The Public IFO will provide exclusive access with a discounted participation fee to those who hold veCAKE on the BNB chain. Participants will need to lock up CAKE to receive veCAKE, which they will use to participate in the IFO.
Disclaimer and Risk Warning: This content is for informational and educational purposes only and does not constitute financial, legal, or professional advice. It is not a recommendation to purchase any specific product or service. Please consult a qualified advisor for individual guidance. Participation in an IFO involves risks and may be restricted in some locations. Please ensure you comply with local laws and regulations before participating.
About PancakeSwap
PancakeSwap is a leading multi-chain decentralized exchange operating on an Automated Market Maker (AMM) model and is available on nine chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. Launched in 2020, PancakeSwap is one of the most popular DEXs in the cryptocurrency industry due to its low trading fees, high-speed trading, and user-friendly platform. PancakeSwap has a cumulative trading volume of over $828 billion and a total locked value of over $1.58 billion, making it the industry's leading multi-chain DEX. For more information, please visit https://pancakeswap.finance/.
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