PancakeSwap Unveils Its First-Ever IFO on Arbitrum Network, Spotlighting Eigenpie

This event will spotlight Eigenpie, a well-known Liquid Restaking Protocol on EigenLayer with over $1B TVL, marking an important step in PancakeSwap's ongoing expansion.

Singapore, Singapore – September 18th, 2024 – PancakeSwap, a top-tier multichain decentralized exchange, has announced the launch of its first-ever Initial Farm Offering (IFO) on the Arbitrum network. This event will feature Eigenpie, a renowned Liquid Restaking Protocol on EigenLayer with over $1B TVL, in a pivotal step for PancakeSwap's expanding presence.

Commencing on September 24, 2024, at 10:15 AM UTC and concluding on September 25, 2024, at 10:15 AM UTC, this venture marks a significant moment for PancakeSwap as it introduces its popular IFO model to Arbitrum. This follows the successful launches of Swap, Yield Farming, Prediction Markets, and Perpetual Trading on the network.

In the realm of decentralized finance, Eigenpie presents an innovative approach. Built on EigenLayer, Eigenpie is a Liquid Restaking Protocol that empowers users to restake their ETH or Liquid Staking Tokens (LSTs). This restaked asset is utilized to validate other services while enabling users to maintain liquidity through a Liquid Restaking Token (LRT).

At the heart of this IFO lies the EGP token, which serves as Eigenpie's native governance token. EGP empowers its holders to participate in protocol governance, potentially earn rewards from engagement, and amplify their influence through vote-locked EGP (vlEGP).

Participation in the IFO will be available through two main channels. The Basic IFO will be accessible to all CAKE holders. For those with veCAKE on BNB Chain, a Public IFO will offer exclusive access with a reduced participation fee. To join the IFO, participants will need to lock CAKE to receive veCAKE, which will then be used to join the IFO.

About PancakeSwap

PancakeSwap is a leading multichain decentralized exchange that operates on an automated market maker (AMM) model and is available across nine chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. Commencing its journey in 2020, PancakeSwap has ascended to become one of the most sought-after DEXs in the cryptocurrency domain, thanks to its minuscule transaction fees, lightning-fast trading, and user-centric platform. With over $828 billion in cumulative trading volume and more than $1.58 billion in total value locked, PancakeSwap stands as a preeminent multichain DEX in the industry. For further information, visit https://pancakeswap.finance/.

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