Singapore, Singapore, September 18, 2024, Chainwire
key takeaways:
- PancakeSwap is launching its first Preliminary Farm Providing (IFO) on Arbitrum, a key milestone in its multichain enlargement technique.
- The IFO will characteristic EigenPai, the main liquid restaking protocol on EigenLayer.
- The IFO will probably be held from September 24, 2024 at 10:15 am UTC to September 25, 2024 at 10:15 am UTC.
- Participation strategies embody a fundamental IFO for all CAKE holders and a public IFO with decreased charges for veCAKE holders.
PancakeSwap has unveiled It’s its first Preliminary Farm Providing (IFO) on the Arbitrum community. The occasion will spotlight Eigenpie, a well known liquid restaking protocol with over $1B TVL on EigenLayer, which is a key step in PancakeSwap’s ongoing enlargement.
The upcoming IFO will run from September 24, 2024 at 10:15 AM UTC to September 25, 2024 at 10:15 AM UTC. The enterprise is a big second for PancakeSwap because it introduces its widespread IFO mannequin to Arbitrum following earlier profitable launches of swaps, yield farming, prediction markets, and perpetual buying and selling on the community.
Eigenpie represents an revolutionary method within the DeFi sector. Constructed on EigenLayer, Eigenpie is a liquid restaking protocol that allows customers to restake their ETH or Liquid Staking Tokens (LST). Restaked property are used to validate different providers whereas permitting customers to take care of liquidity by way of Liquid Restaking Tokens (LRT).
The primary spotlight 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, probably earn rewards from engagement, and improve their affect by way of vote-locked EGP (vlEGP).
Participation within the IFO will probably be accessible by way of two main channels. The fundamental IFO will probably be open to all CAKE holders. For these holding veCAKE on the BNB chain, a public IFO will provide unique entry with a decreased participation price. Individuals might want to lock CAKE to obtain veCAKE, which they are going to use to affix the IFO.
Disclaimer and Threat Warning: This content material is for informational and academic functions solely and isn’t monetary, authorized or skilled recommendation. It isn’t a suggestion to buy a selected services or products. Please seek the advice of certified advisors for personalised steering. Participation in IFOs entails threat and could also be restricted in sure areas. Ensure you adjust to native legal guidelines and laws earlier than collaborating.
About PancakeSwap
PancakeSwap PancakeSwap is a number one multichain decentralized alternate that operates on an automatic market maker (AMM) mannequin and is out there 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 trade as a consequence 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 trade. For extra data, customers can go to right here https://pancakeswap.finance/,
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