PancakeSwap’s First IFO on Arbitrum: Features Eigenpie Token

[PRESS RELEASE – Singapore, Singapore, September 18th, 2024]

Highlights:

• PancakeSwap is set to launch its inaugural Initial Farm Offering (IFO) on Arbitrum, marking a key milestone in its multichain growth strategy.
• The IFO will feature Eigenpie, a prominent Liquid Restaking Protocol on EigenLayer.
• The IFO is scheduled to take place from 10:15 AM UTC on September 24th, 2024, until 10:15 AM UTC on September 25th, 2024.
• There will be two participation options: a Basic IFO for all CAKE holders and a Public IFO with discounted fees for veCAKE holders.

PancakeSwap has announced its first-ever Initial Farm Offering (IFO) on the Arbitrum network. This event will showcase Eigenpie, a well-regarded Liquid Restaking Protocol on EigenLayer, boasting over $1B in Total Value Locked (TVL), representing an important advancement for PancakeSwap’s ongoing expansion.

The upcoming IFO will span from September 24, 2024, at 10:15 AM UTC to September 25, 2024, at 10:15 AM UTC. This initiative signifies a major occasion for PancakeSwap as it brings its acclaimed IFO model to Arbitrum, following prior successful ventures in Swap, Yield Farming, Prediction Markets, and Perpetual Trading on the network.

Eigenpie offers a groundbreaking concept in the DeFi sector. Designed on EigenLayer, Eigenpie is a Liquid Restaking Protocol that enables users to restake their ETH or Liquid Staking Tokens (LSTs). The restaked asset will validate additional services while allowing users to retain liquidity through a Liquid Restaking Token (LRT).

The focus of this IFO is the EGP token, which acts as Eigenpie’s native governance token. EGP empowers its holders to engage in the protocol’s governance, potentially earn rewards through participation, and enhance their influence via vote-locked EGP (vlEGP).

Participation in the IFO will be available through two primary options. The Basic IFO will be accessible to all CAKE holders. Additionally, veCAKE holders on BNB Chain will have the opportunity to join a Public IFO that offers exclusive access with a lower participation fee. Participants must lock CAKE to obtain veCAKE, which will then be used to enter the IFO.

Disclaimer and Risk Warning: This content is intended solely for informational and educational purposes and does not represent financial, legal, or professional advice. It does not constitute a recommendation to purchase any specific product or service. It is advisable to consult qualified professionals for personalized guidance. Participation in the IFO carries risks and may be subject to restrictions in certain jurisdictions. Ensure compliance with local laws and regulations before engaging.

About PancakeSwap

PancakeSwap is a prominent multichain decentralized exchange that operates on an automated market maker (AMM) model and functions across nine different chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. Launched in 2020, PancakeSwap has become one of the most popular DEXs in the cryptocurrency ecosystem due to its low transaction fees, fast trading, and user-friendly interface. With over $828 billion in cumulative trading volume and over $1.58 billion in total value locked, it stands as a leading multichain DEX in the space. For more information, users can visit https://pancakeswap.finance/.