PancakeSwap, the world’s 3rd largest decentralized exchange (DEX) in terms of trading volume, introduced the new IFO (Initial Farm Offering) format, IFO 3.0 and IFO CAKE Pool, on December 13 (Today).
a kind of token supply IFO, Cake was introduced as a new format for rewards by staking. After their sharing on Medium, it was announced that the new IFO will start.
to IFOs It will be possible to participate with the IFO loan system. You will need to stake your Cakes in the IFO Cake pool to earn IFO credits. Your IFO credits will be calculated on your average staking Cake balance over a period of time. Start and end of each calculation period. that they will announce on all their social channels they stated.
Here is an example of how IFO loans are calculated:
Suppose a calculation period started and ended after about 7 days:
In the IFO Cake Pool during the entire calculation period 10 Cake stakes If you have, the total will be at the next IFO. 10 Cake commitment which will allow you to You earn 10 IFO credits.
After the calculation period starts in the IFO Cake pool. 10 Cake stakes after 3.5 days and you kept Cake until the end of the calculation period, 5 IFO loans you win.
if 5 Cake stakes in 3.5 days, 10 Cake stakes in 3.5 days if you do. average You get an IFO loan accordingly.
In the cake pool Cake stake and Cake and You can earn IFO credits. The right to buy will be equivalent to the IFO loan.. With this, you can get a newly released token as much as your IFO credit from the pre-sale. You can buy cake by paying.
There are no deposit fees but if you have manually staked and 1% if you want to withdraw your deposit within 24 hours is being cut. If your Cakes are staked for 24 hours without any charge You can withdraw your cakes.
–When 1 Cake is won in the pool, 0.02 Cake will be paid as pool fee.
- Staking rewards taken back from the IFO Cake pool during the calculation periods will not be taken into account during the calculation of IFO credits, only the principal amount will be calculated.
- At the IFO event, to commit IFO sales You can withdraw your Cake from the IFO Cake Pool.
- After claiming back unspent Cake tokens after the IFO event, you will need to put your Cakes back in the pool to regain your IFO credits for the next IFO.
- Maximum commitment for participants in the “Basic” session has. There is no extra fee to participate.
- Maximum commitment for participants in an “unlimited” session there is none. Extra fee to join You must give.
In the statement made:
Accounts holding the biggest Cake reward we want. At the same time, the accounts with the most loyal Cakes will always be, regardless of your contribution. Benefit from IFO.
It was said.
How can I join?
To enable depositing Cake on the IFO page, click on the IFO Cake Pool. “Enable” Press the button.
After activating the pool, you can stake Cakes. to “Stake” Click.
Select the amount of Cake you want to deposit into the pool. Next to “Confirm” Click and click the transaction in your wallet. confirm.
Where are the IFO loans?
On the IFO Cake card, you can see your IFO credits, which is your commitment limit in the next IFO sale. You can determine it according to your average Cake balance during the accounting period.
On why they chose this change:
We are always trying to improve ourselves to make IFOs more equitable, accessible and rewarding. We hope to reduce the circulating supply of the token by giving rewards to long-term Cake holders. We thought this would be fairer for long-term investors rather than buying Cake and joining at the last minute..
it was said.