Singapore, Singapore, September 18, 2024, Chainwire
Key findings:
- PancakeSwap is launching its first Initial Farming Offering (IFO) on Arbitrum, marking a major milestone in its multi-chain expansion strategy.
- IFO will feature Eigenpie, a leading liquid rewriting protocol on EigenLayer.
- The IFO will take place from 10:15 am UTC on September 24, 2024 to 10:15 am UTC on September 25, 2024.
- Participation methods include a basic IFO for all CAKE holders and a public IFO with reduced fees for veCAKE holders.
PancakeSwap has launched its first Initial Farm Offering (IFO) on the Arbitrum network. This event will highlight Eigenpie, a well-known liquid rewriting protocol on EigenLayer with over $1 billion in TVL, marking an important step in PancakeSwap’s continued expansion.
The next IFO will take place from September 24, 2024, at 10:15 am UTC to September 25, 2024, at 10:15 am UTC. This initiative marks an important moment for PancakeSwap as it introduces its popular IFO model to Arbitrum, following the successful previous launches of Swap, Yield Farming, Prediction Markets, and Perpetual Trading on the network.
Eigenpie represents an innovative approach in the DeFi space. Eigenpie, built on EigenLayer, is a liquid rewriting protocol that allows users to rewrite their ETH or Liquid Rewrite Tokens (LST). The rewritten asset is used to validate other services while also allowing users to maintain liquidity through a Liquid Rewrite Token (LRT).
The centerpiece of this IFO is the EGP token, which functions as Eigenpie’s native governance token. EGP allows its holders to participate in the protocol’s governance, potentially earn staking rewards, and amplify their influence through vote-locked EGP (vlEGP).
Participation in the IFO will be accessible through two main channels. The basic IFO will be open to all CAKE holders. For those holding veCAKE on BNB Chain, a public IFO will provide exclusive access with a reduced participation fee. Participants will need to stake CAKE to receive veCAKE, which they will then use to join the IFO.
Disclaimer and Risk Warning: This content is for informational and educational purposes only and does not constitute financial, legal or professional advice. It is not a recommendation to purchase any specific product or service. Please consult with qualified advisors for personalized guidance. Participation in the IFO involves risks and may be restricted in some areas. Please ensure you comply with local laws and regulations before participating.
About PancakeSwap
PancakeSwap is a leading multi-chain decentralized exchange that operates on an automated market maker (AMM) model and is available on nine chains: BNB Chain, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. Launched in 2020, PancakeSwap is one of the most popular DEXs in the cryptocurrency industry due to its low transaction fees, high-speed trading, and user-friendly platform. PancakeSwap has over $828 billion in cumulative trading volume and over $1.58 billion in total value locked, making it an industry-leading multi-chain DEX. For more information, users can visit
ContactPancake Exchange[email protected]
This article was originally published on Chainwire
