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 purchase any specific product or service. Please consult with qualified advisors for personalized guidance. Participation in the IFO involves risks and may be restricted in some areas. Ensure you comply with local laws and regulations before participating.

PancakeSwap is excited to announce the first-ever Initial Farm Offering (IFO) on Arbitrum, featuring Eigenpie, a Liquid Restaking Protocol on EigenLayer. This IFO follows our successful launches of Swap, Yield Farming, Prediction Markets, and Perpetual Trading on Arbitrum, marking a key milestone in our multichain expansion.

Eigenpie IFO Details:

• Chain: Arbitrum One
• Start Date: 24th September 2024, 10:15 AM UTC
• End Date: 25th September 2024, 10:15 AM UTC
• Total Raise Amount: $60,000
• Tokens Available: 100,000 EGP (1% of the total EGP supply)
• Price per Token: $0.60 USD
• Vesting: Linear vesting over 18 months
• Accepted Token: CAKE

What is Eigenpie?

Built on EigenLayer, Eigenpie is a Liquid Restaking Protocol that enables users to restake their ETH or Liquid Staking Tokens (LSTs). The restaked asset is used to validate other services while allowing users to maintain liquidity via a Liquid Restaking Token (LRT). Learn more on Eigenpie's official website.

What is EGP?

EGP is the native governance token of Eigenpie. When locked as vlEGP, it offers the following utility:

1. Governance: Participate in the governance of Eigenpie

2. Rewards: Receive rewards for active engagement on the platform

Detailed EGP tokenomics are available on our community forum.

How to Participate in the Eigenpie IFO?

You can participate in the Eigenpie IFO using one of the following methods

1. Basic IFO (50% of Allocation - $30,000)

Anyone holding CAKE can join the Basic IFO. Here’s how:

• If you don't have CAKE, you can swap for it on Arbitrum PancakeSwap or bridge it from other chains to Arbitrum.
• Commit your CAKE once the IFO begins to receive a proportional share of EGP tokens.
• If the IFO is oversubscribed, you'll get a proportional amount of EGP tokens after a 1.5% participation fee, with unspent CAKE refunded. This fee contributes to weekly CAKE burns.

Example: If you committed 1,000 CAKE in a Basic IFO and the total amount committed by all participants is 10,000 CAKE, you will receive 5,000 EGP tokens (10% of the Basic IFO), minus a 1.5% fee on the excess committed funds. Any unspent CAKE can be claimed after the IFO.

2. Public IFO for veCAKE Holders (50% of Allocation - $30,000)

As a veCAKE holder, you benefit from a lower participation fee of 1% for the IFO, and this participation also helps burn CAKE.

• If you don't have veCAKE, you can Lock CAKE to receive veCAKE on PancakeSwap.
• Use your veCAKE to access the IFO with the reduced fee.

Note: When you lock CAKE to receive veCAKE, that locked CAKE cannot be used to participate in the Initial Farm Offering (IFO). This means you need to hold extra CAKE in addition to what you’ve locked for veCAKE to commit to the IFO. Hence, make sure you keep enough CAKE available after locking some for veCAKE so you can participate in the IFO.

For this IFO, users who natively lock CAKE as veCAKE on PancakeSwap will have a 2x iCAKE:veCAKE Ratio. In other words, for every veCAKE you have, you’re able to commit up to two times that amount; if you have 1,000 veCAKE, you’ll be able to commit up to 2,000 CAKE in the IFO. veCAKE Managers that lock CAKE as veCAKE will have a 1x iCAKE:veCAKE Ratio.

The iCAKE Ratio is a multiplier applied on a user’s veCAKE value, to arrive at the iCAKE value. Please refer to our Documentation for more details.

Note: As veCAKE only exists on BNB Chain, users will need to sync their credentials (e.g. veCAKE balance, PancakeSwap Profile) between BNB Chain and Arbitrum on the IFO page. Check out the detailed step-by-step guide on how to sync and participate in cross-chain IFOs here

The veCAKE balance snapshot used to decide users’ allocation will be taken at the end of the IFO, that is, 25 Sep 2024 1015am UTC. It will still be possible to increase your allocation while the IFO is ongoing by locking more or extending your CAKE lock duration, though you will need to re-sync your new iCAKE balance.

Example: If you locked 100 CAKE for 4 years and have 100 veCAKE, for this IFO, you will have a 2x iCAKE ratio (2x iCAKE:veCAKE). This means with your 100 veCAKE; you'll be able to commit 200 CAKE to the IFO sale. If you commit 200 CAKE in a Public IFO and the total committed by all participants is 1,000 CAKE, you will receive 10,000 EGP tokens (20% of the Public IFO), minus a 1% fee on the excess committed funds. Any unspent CAKE can be claimed after the IFO.

Important Reminder

EGP tokens will NOT be available for trading before or during the IFO! Any EGP tokens circulating before the official IFO are fraudulent. Please verify the EGP contract address before making any trades. Contract Address: 0x7e7a7c916c19a45769f6bdaf91087f93c6c12f78

Restrictions

Participation may be limited in certain jurisdictions. Before participating, individuals are advised to ensure compliance with local laws and regulations.

Have more Questions?

For more details, visit our community forum or join the discussion on Telegram.