PancakeSwap Introduces First IFO on Arbitrum with Eigenpie

Singapore, Singapore, September 18th, 2024, Chainwire

Highlights:

PancakeSwap is set to launch its inaugural Initial Farm Offering (IFO) on Arbitrum, representing a crucial step in its multichain expansion efforts.
The IFO will showcase Eigenpie, a prominent Liquid Restaking Protocol on EigenLayer.
The IFO is scheduled from 10:15 AM UTC on September 24th, 2024, to 10:15 AM UTC on September 25th, 2024.
Participants can engage through a Basic IFO for all CAKE holders and a Public IFO with lower fees for veCAKE holders.

PancakeSwap has announced its first Initial Farm Offering (IFO) on the Arbitrum network. This initiative will highlight Eigenpie, a respected Liquid Restaking Protocol on EigenLayer with over $1B in Total Value Locked (TVL), marking a significant advancement in PancakeSwap’s continuous growth.

The upcoming IFO will take place from September 24, 2024, at 10:15 AM UTC to September 25, 2024, at 10:15 AM UTC. This occasion is pivotal for PancakeSwap as it introduces its successful IFO model to Arbitrum, following earlier successful deployments of Swap, Yield Farming, Prediction Markets, and Perpetual Trading on the platform.

Eigenpie introduces a novel concept in the DeFi sector. Built on EigenLayer, Eigenpie functions as a Liquid Restaking Protocol that allows users to restake their ETH or Liquid Staking Tokens (LSTs). This process uses the restaked asset to secure other services while permitting users to retain liquidity through a Liquid Restaking Token (LRT).

At the heart of this IFO is the EGP token, Eigenpie’s native governance token. EGP empowers its holders to engage in protocol governance, potentially garner rewards from participation, and enhance their voting power through vote-locked EGP (vlEGP).

Individuals can participate in the IFO through two main avenues. The Basic IFO will welcome all CAKE holders. In contrast, a Public IFO will grant exclusive access to veCAKE holders on BNB Chain with a reduced fee structure. Participants must lock CAKE to acquire veCAKE, which is required for joining the IFO.

Disclaimer and Risk Warning: This content is intended for informational and educational purposes only and should not be interpreted as financial, legal, or professional advice. It is not a recommendation to purchase any specific product or service. For personalized guidance, please consult with qualified professionals. Engaging in the IFO entails risks and may be limited in certain jurisdictions. Ensure compliance with local laws and regulations prior to participation.

About PancakeSwap

PancakeSwap is a prominent multichain decentralized exchange leveraging an automated market maker (AMM) model, operating across nine chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. Established in 2020, PancakeSwap ranks among the most favored DEXs in the cryptocurrency landscape due to its minimal transaction fees, rapid trading capabilities, and user-centric interface. With a cumulative trading volume exceeding $828 billion and a total value locked of over $1.58 billion, it stands as a leading multichain DEX in the industry. For further insights, users can visit https://pancakeswap.finance/.