PancakeSwap Launches Inaugural Initial Farm Offering (IFO) on the Arbitrum Network

This event will highlight Eigenpie, a prominent Liquid Restaking Protocol on EigenLayer boasting over $1B in Total Value Locked (TVL)

PancakeSwap is kicking off its first Initial Farm Offering (IFO) on the Arbitrum network. The event will feature Eigenpie, a leading Liquid Restaking Protocol on EigenLayer with over $1B in Total Value Locked (TVL), marking a key step in PancakeSwap's ongoing growth.

The IFO will run from September 24, 2024, at 10:15 AM UTC to September 25, 2024. This initiative follows PancakeSwap's successful launches of Swap, Yield Farming, Prediction Markets, and Perpetual Trading within the network.

Eigenpie presents a unique value proposition within the decentralized finance space. Built on EigenLayer, Eigenpie is a Liquid Restaking Protocol that allows users to restake their ETH or Liquid Staking Tokens (LSTs). The restaked asset validates different services, and users can maintain liquidity through a Liquid Restaking Token (LRT).

At the heart of this IFO is the EGP token, which serves as Eigenpie's native governance token. EGP grants its holders the ability to participate in protocol governance and earn rewards through vlEGP (vote-locked EGP).

Participation in the IFO will be available through two primary channels. The Basic IFO will open up the IFO to all CAKE holders. Those holding veCAKE on BNB Chain will gain exclusive access and a reduced participation fee in the Public IFO. To participate, users must stake CAKE to obtain veCAKE, which is required to join the IFO.

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