TechFlow reports that decentralized exchange PancakeSwap has announced the launch of its first-ever Initial Farm Offering (IFO) on the Arbitrum network. This IFO will focus on Eigenpie, a liquidity restaking protocol built on EigenLayer with over $1 billion in total value locked (TVL).
The IFO event will run from September 24, 2024, at 10:15 UTC to September 25, 2024, at 10:15 UTC. Participation options include a basic IFO open to all CAKE holders, and a public IFO offering reduced fees for veCAKE holders.
Eigenpie is an innovative DeFi project that enables users to restake their ETH or liquid staking tokens (LSTs). EGP, the native governance token of Eigenpie, will be issued during this IFO. EGP holders will be able to participate in protocol governance, earn potential rewards, and increase their influence through vote-locking (vlEGP).
