As a seasoned crypto investor with roots tracing back to the early days of DeFi, I find myself both exhilarated and intrigued by PancakeSwap’s latest move into the Arbitrum ecosystem.
Singapore, Singapore, September 18th, 2024, Chainwire
Key Takeaways:
- PancakeSwap is launching its first Initial Farm Offering (IFO) on Arbitrum, marking a significant milestone in its multichain expansion strategy.
- The IFO will feature Eigenpie, a leading Liquid Restaking Protocol on EigenLayer.
- The IFO will be conducted from 10:15 AM UTC on September 24th, 2024, to 10:15 AM UTC on September 25th, 2024.
- Participation methods include a Basic IFO for all CAKE holders and a Public IFO with reduced fees for veCAKE holders.
PancakeSwap has introduced its initial Farm Offering (IFO) for the first time on the Arbitrum network, showcasing Eigenpie – a prominent Liquid Restaking Protocol within EigenLayer that boasts over $1 billion Total Value Locked (TVL). This move signifies an essential advancement in PancakeSwap’s continuous growth.
The International Fork Off (IFO) is scheduled to take place from September 24, 2024, at 10:15 AM UTC until September 25, 2024, at the same time. This event signifies a major milestone for PancakeSwap as they bring their renowned IFO system to Arbitrum, having previously introduced Swap, Yield Farming, Prediction Markets, and Perpetual Trading on this network with successful launches.
As a forward-thinking crypto investor, I find Eigenpie to be an exciting development in the DeFi sector. Constructed on EigenLayer, Eigenpie operates as a Liquid Restaking Protocol, empowering me to reinvest my Ethereum or Liquid Staking Tokens (LSTs). The asset I’ve re-staked is utilized to support other services, yet I retain liquidity through a Liquid Restaking Token (LRT).
The main focus of this Integrated Financial System (IFO) is the EGP token, which functions as a governance token for Eigenpie. Holders of the EGP token can engage in protocol governance, have the opportunity to receive rewards from participation, and increase their impact through vote-locked EGP (vlEGP).
As a crypto investor holding CAKE tokens, you’ll have two convenient opportunities to engage in our Initial Farms Offering (IFO). The Basic IFO is open to all CAKE holders, while those with veCAKE on the BNB Chain are eligible for the Public IFO. This exclusive channel offers a reduced participation fee. To join either IFO, you’ll first need to lock your CAKE tokens to obtain veCAKE, which will then grant you access to participate in our IFO.
About PancakeSwap
PancakeSwap is a prominent exchange that functions on an automated market maker (AMM) model and can be accessed across nine different blockchains: BNB Smart Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. This platform was introduced in 2020 and has quickly become one of the top DEXs (Decentralized Exchanges) within the cryptocurrency sector due to its low fees, quick trading speeds, and user-friendly interface. To date, PancakeSwap has recorded over $828 billion in total trading volume and boasts over $1.58 billion in total value locked, making it one of the leading multichain DEXs (Decentralized Exchanges) available. For additional details, you can visit their official website at https://pancakeswap.finance/.
Contact
PancakeSwap
cocoa@pancakeswap.com
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2024-09-18 21:26