PancakeSwap is hosting its first Initial Farm Offering event on the Aptos network as part of the launch of the MOVE token of the BlueMove NFT marketplace.
$400,000 fundraiser for BlueMove NFT Marketplace
PancakeSwap launches its suite of products on the Aptos network, with its first Initial Farm Offering (IFO) scheduled for February 9th. The IFO intends to raise $400,000 for the BlueMove NFT marketplace through the sale of its MOVE governance token.
From 12:00 to 14:00 UTC on February 9th, users holding $CAKE on Aptos can participate in the sale, with $10M MOVE on the block for $0.04 each.
Unlike IFOs on the BNB chain, BlueMove IFO participants do not need to stake or lock $CAKE β they just need to hold $CAKE on Aptos and commit their tokens to sell.
1/12 π BlueMove IFO takes place on Thursday 9th February from 12:00 to 14:00 UTC on Aptos PancakeSwap!
To clarify some FAQs, read this thread π§΅
β PancakeSwap π₯ #Multichain (@PancakeSwap) February 6, 2023
PancakeSwap uses the overflow allocation method. So if the IFO is oversubscribed, users will receive the percentage of the offer they committed to purchase along with the corresponding $CAKE refund.
At the Move Token Generation Event (TGE…or “Launch”), 40% of the tokens will be unlocked (i.e. made available for sale or trade), while the remaining 60% will be unlocked over a three-month period.
The $MOVE 10 million in IFO represents 3.33% of the total token supply.
9/12 How many tokens does IFO unlock on TGE?
40% of the tokens will be unlocked on TGE, and the remaining 60% will be unlocked block by block over 3 months.
β PancakeSwap π₯ #Multichain (@PancakeSwap) February 6, 2023
For detailed information about the overflow method and the IFO, see this PancakeSwap Medium post.
As part of the IFO, PancakeSwap is hosting a year-long $MOVE Syrup Pool and a 120-day $MOVE-$APT Farm.
As BlueMove’s name suggests, the NFT marketplace is live on both the Aptos mainnet and the Sui testnet. Aptos and Sui are blockchains powered by the Move programming language originally developed for Facebook’s Scrabbed Diem project.
What is PancakeSwap:
PancakeSwap is a decentralized exchange (DEX) built on top of the BNB chain. It offers users various features like Liquidity Pools, Swaps, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT Profile System and many others.
Additionally, the protocol helps users get the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volume in the market, PancakeSwap is the leading DEX on the BNB chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub
What is Aptos:
Aptos is a new, independent project focused on providing the world’s most secure and production-ready Layer 1 blockchain. The team consists of the original creators, researchers, designers and builders of Diem, the blockchain first built for this purpose.
Where to find Aptos Labs:
Website | Twitter | Telegram | Medium | discord |
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