PancakeSwap has unveiled its first-ever Initial Farm Offering (IFO) on the Arbitrum network, featuring Eigenpie, a leading Liquid Restaking Protocol on EigenLayer. This event marks an important step in PancakeSwap’s ongoing expansion.
First IFO on Arbitrum
PancakeSwap will conduct its first Initial Farm Offering (IFO) on the Arbitrum network from 10:15 AM UTC on September 24th, 2024, to 10:15 AM UTC on September 25th, 2024. This venture marks a significant moment for PancakeSwap, following previous successful launches of Swap, Yield Farming, Prediction Markets, and Perpetual Trading on the Arbitrum network.
Eigenpie Project
Eigenpie represents an innovative approach in the DeFi space. Built on EigenLayer, Eigenpie is a Liquid Restaking Protocol that enables users to restake their ETH or Liquid Staking Tokens (LSTs). The restaked asset is used to validate other services while allowing users to maintain liquidity via a Liquid Restaking Token (LRT). The centerpiece of this IFO is the EGP token, which serves as Eigenpie’s native governance token. EGP allows its holders to participate in protocol governance, potentially earn rewards from engagement, and amplify their influence through vote-locked EGP (vlEGP).
IFO Participation Details
Participation in the IFO will be accessible through two primary channels. The Basic IFO will be open to all CAKE holders. For those with veCAKE on BNB Chain, a Public IFO will provide exclusive access with a reduced participation fee. Participants will need to lock CAKE to receive veCAKE, which they will then use to join the IFO.
The launch of the first IFO on Arbitrum featuring Eigenpie marks a significant milestone in PancakeSwap's expansion and showcases its commitment to innovation in the DeFi space.
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