PancakeSwap launches its first IFO on Arbitrum, Eigenpie
Singapore, Singapore, September 18, 2024, Chainwire
Key Takeaways:
Marking a major milestone in its multi-chain expansion strategy, PancakeSwap is launching its first Initial Farm Offering (IFO) on Arbitrum. IFO features Eigenpie, a leading fluid regression protocol on EigenLayer. The IFO will be held 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 a reduced fee for veCAKE holders.
PancakeSwap has unveiled its First Farm Offering (IFO) for the first time on the Arbitrum network. This event marks an important step in PancakeSwap's continued expansion and highlights Eigenpie, a popular liquidity rebalancing protocol on EigenLayer, to over $1B TVL.
The upcoming IFO runs from September 24, 2024, at 10:15 AM UTC to September 25, 2024, at 10:15 AM UTC. This venture will play an important role for Pancake Swap as it introduces its popular IFO model with arbitrage following its previous successful launch of swaps, yield farming, prediction markets and sustainable trading on the network.
Eigenpie represents an innovative approach in the DeFi space. Built on top of EigenLayer, Eigenpie is a Liquid Restaking Protocol that allows users to restake ETH or Liquid Staking Tokens (LSTs). The recaptured asset allows users to maintain liquidity through the Liquidity Recovery Token (LRT), which is used to validate other services.
The centerpiece of this IFO is the EGP token, which serves as EGP's native management token. EGP allows owners to participate in protocol management, earn rewards from participation, and increase their influence with a voice-locked EGP (vlEGP).
Participation in IFO will be accessible through two main channels. The basic IFO will be open to all CAKE containers. For those who have veCAKE on the BNB Chain, the public IFO offers exclusive access with a reduced participation fee. Participants must lock the CAKE to receive the veCAKE, which they 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 buy any particular product or service. Please consult qualified advisors for personalized guidance. Participation in IFO involves risks and may be restricted in some areas. Make sure 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, Ethereum, 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. Pancake Swap has locked in over $828 billion in cumulative transaction volume and over $1.58 billion in total value, making it the leading multichain DEX in the industry. For more information users can visit
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