According to TechFlow, the decentralized exchange PancakeSwap announced that it will launch its first IFO on the Arbitrum network. This IFO will focus on the liquidity re-staking protocol Eigenpie on EigenLayer, with a total locked value (TVL) of more than US$1 billion.
The IFO event will start at 10:15 (UTC) on September 24, 2024, and will last until 10:15 (UTC) on September 25. Participation methods include a basic IFO for all CAKE holders, and a public IFO with reduced fees for veCAKE holders.
Eigenpie is an innovative DeFi project that allows users to re-stake their ETH or Liquidity Staking Tokens (LSTs). EGP tokens, as Eigenpie's native governance token, will be issued in this IFO. EGP holders can participate in protocol governance, potentially receive rewards, and increase their influence through locked voting (vlEGP).
