Eigenpie IFO Debuts on Arbitrum via PancakeSwap

PancakeSwap Launches First IFO on Arbitrum Featuring Eigenpie

PancakeSwap is set to launch its first-ever Initial Farm Offering (IFO) on the Arbitrum network, marking a significant step in its multichain expansion strategy. The IFO will feature Eigenpie, a leading Liquid Restaking Protocol on EigenLayer, and is expected to attract considerable attention in the DeFi space.

Key Dates and Details

The IFO will be held from 10:15 AM UTC on September 24, 2024, to 10:15 AM UTC on September 25, 2024. This launch introduces PancakeSwap’s popular IFO model to the Arbitrum network, building on previous successful launches such as:

• Swap
• Yield Farming
• Prediction Markets
• Perpetual Trading

What is Eigenpie?

Eigenpie is an innovative Liquid Restaking Protocol built on EigenLayer. It allows users to restake their ETH or Liquid Staking Tokens (LSTs) to validate other services while maintaining liquidity through a Liquid Restaking Token (LRT). This flexibility in DeFi staking makes Eigenpie a noteworthy project with over $1 billion in Total Value Locked (TVL).

Introducing the EGP Token

The centerpiece of this IFO is the EGP token, Eigenpie’s native governance token. Holders of EGP tokens will have the following benefits:

• Participate in protocol governance
• Earn rewards through engagement
• Amplify influence using vote-locked EGP (vlEGP)

How to Participate in the IFO

There are two main ways to participate in the IFO:

• Basic IFO: Open to all CAKE holders.
• Public IFO: Exclusive access for veCAKE holders on the BNB Chain, with a reduced participation fee.

Participants need to lock their CAKE tokens to receive veCAKE, which can then be used to join the IFO. This dual participation model provides flexible options for both regular and advanced users of PancakeSwap.

Conclusion

PancakeSwap’s first IFO on Arbitrum, featuring Eigenpie, is a landmark event that showcases the platform’s multichain strategy and commitment to innovative DeFi solutions. With Eigenpie’s cutting-edge Liquid Restaking Protocol and the launch of the EGP token, this IFO is expected to draw significant participation from across the crypto community.