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Abiodun Oladokun
August 4, 2022
To participate in IFO events, participants must have a PancakeSwap profile, obtain iCAKE, and have CAKE tokens ready for use. Pay attention to the start time of the one-hour events!
Initial Farm Offerings on PancakeSwap
Initial Farm Offerings (IFOs) are a type of token sale event that function through the use of farming features offered through a decentralized exchange (DEX).
PancakeSwap is the leading platform adopting this fundraising model. IFOs allow users to gain early access to newly issued tokens as they are added to the DEX. The IFO model offered benefits to users and dev teams. Users benefit from higher rewards accruing to them by virtue of early investment in a new token. Dev teams benefit from the liquidity offered by the (DEX).
Introducing iCAKE
On June 29, PancakeSwap, in an announcement blog, announced the launch of its first fixed-term CAKE staking benefit, iCAKE. According to the DEX, iCAKE was launched to offer CAKE holders increased benefits in the form of the IFO.
While noting that the iCAKE is not a token, PancakeSwap informed users that it exists as a numerical metric within PancakeSwap to determine the CAKE limit each participant can commit towards a PancakeSwap IFO.
IFOs on PancakeSwap with iCAKE
Are you looking to participate in the next round of IFOs on PancakeSwap using its new iCAKE? Here is how it works:
Create your PancakeSwap profile and lock CAKE in the CAKE Syrup Pool to get iCAKE
A PancakeSwap profile is required for any user to be a participant in an IFO event on PancakeSwap. After creating a profile, the user is required to obtain iCAKE by staking CAKE tokens in the CAKE Syrup Pool on the IFO page. The longer the CAKE tokens are staked, the more iCAKE is allocated.
Ready your CAKE
As well as iCAKE, users need additional CAKE tokens in their wallets to purchase the offerings of the IFO event. IFO events on PancakeSwap usually last one hour, within which users can participate.
Participants choose
IFOs of Pancakeswap are broadly categorized into Public Sales and Private Sales. With CAKE tokens readied for use, IFO participants have the option to determine the kind of sale they would like to participate in.
In Public Sales, participants can commit only as many CAKE tokens as permitted within their iCAKE limit. Whereas in a Private Sale, investment of CAKE tokens is limited to the threshold provided by the Private Sale. The threshold is usually published along with the IFO voting proposal.
And it is a wrap!
Upon the conclusion of the IFO event, users have access to their new tokens. Interestingly, the number of new tokens a participant is distributed depends on the number of people participating in the IFO. Unallocated CAKE tokens are returned to the owners.
Commenting on the introduction of iCAKE and its usage for determining IFO allocations, Chef Bun told BSC News that:
“We don’t think such requirements like ‘lock CAKE to get iCAKE & participate in IFOs’ is a “limitation.” It is a mechanism we built to ensure every product in PancakeSwap is built for CAKE and built around CAKE. This will ensure the value is well accrued to loyal CAKE holders. This has been a theme of PancakeSwap (remember IFO CAKE Pool?) and will continue to stay the same. And our Business Development team has been working hard to bring more juicy IFOs with great projects to our CAKE community.”
What is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BSC. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make 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 volumes in the market, PancakeSwap is the leading DEX on the BSC.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub|
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow!
This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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August 8, 2022
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Weekly Analysis of Binance Ecosystem (July 29 - Aug. 4)
A look into BNB Chain performance and Binance ecosystem updates from July 29 to Aug. 4
BNB Chain Key Data Highlights
Here are some key metrics of BNB Chain’s performance between July 29 and Aug. 4:
- Weekly Active Users: Between July 29 and Aug. 4, Weekly Active Users (WAU) on BNB Chain grew by 3.8% from 2.86 million active users to 2.97 million active users.
- Weekly Transactions: In the period under review, a total of 23.1 million transactions were completed on BNB Chain. This represented a 5% uptick from the 21.9 million recorded in transactions the week before.
- Average Daily Transactions: BNB Chain logged 3.31 million average daily transactions between July 29 and Aug. 4. This metric grew 5.8% from the 3.13 million recorded in the week before.
- Average Gas Fee: For all transactions executed on BNB chain between July 29 and Aug. 4, the average gas fee was pegged at 0.00079 BNB, a 3.7% decline from the 0.00082 BNB recorded the week before.
BNB Chain and Binance Ecosystem Update
Between July 29 and Aug. 5, many significant developments occurred on BNB Chain and within the Binance ecosystem. These include the announcement of the Binance Account Bound (BAB) token, adding the BOND coin as a borrowable asset on the Binance Loans platform, adding $ETC, $ETH, $LDO and $OP to Locked Savings, the Binance Card supporting $XRP, $SHIB and $AVAX, and more.
Binance Account Bound (BAB) token
On Aug. 1, Binance confirmed to its users that it was set to launch the first Soulbound Token (SBTs) built on BNB Chain in the form of Binance Account Bound (BAB). BAB will essentially be used to certify that a user has been verified on Binance. As such, users of the Binance trading application whose identity has been confirmed will be able to mint the BAB tokens directly into their Binance wallets.
BOND Now a Borrowable Asset
On Aug. 2, Binance announced the addition of BOND token as a borrowable asset on its Binance Loans platform. This comes a week after the platform announced the addition of APE tokens to its list of borrowable assets.
ETC, ETH, LDO and OP to Locked Savings
Ahead of the Ethereum Merger, Binance, on Aug. 3, announced the inclusion of $ETC, $ETH, $LDO and $OP tokens to its list of supported assets on Locked Savings.
Binance Card Supports XRP, SHIB and AVAX
On Aug. 56, Binance announced the addition of XRP, SHIB and AVAX tokens to the list of supported cryptocurrencies on Binance Card. This brings the number of tokens supported by Binance Card to a total of 14 cryptocurrencies: ADA, AVAX, BNB, BTC, BUSD, DOT, ETH, LAZIO, PORTO, SANTOS, SHIB, SXP, USDT and XRP.
Price Performance
According to data from Santiment, the price of $BNB rallied by 5% between July 29 and Aug. 4. Also, the coin’s market capitalization rose from $47 billion to $50 billion. However, despite the price uptick, the coin’s trading volume declined from 2.96 billion to 1.92 billion within a similar window period.
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow!
August 7, 2022
Axie Infinity Holds Summer Loving Art Contest
The prize pool consists of 1,700 $AXS, 1 Mystic Axie, 6 Origin Axies, Summer Axies, and a mystery prize.
Artists Challenge
Axie Infinity, a PlayAndEarn blockchain game built on Ethereum sidechain Ronin, announced an art contest related to its ongoing summer event.
In a tweet on Aug. 4, Axie Infinity called on artists within its community to showcase their skills and get rewarded for it. The top 100 entries will win at least 1 $AXS from a pool totalling 1,700 $AXS, 1 Mystic Axie, 6 Origin Axies, Summer Axies, and mystery prizes.
The event comes at a time when battlers are in the offseason, and breeders are taking center stage to breed rare summer parts for their Axies.
xKerod, an Axie Esports player and content creator from GTI guild, decided to answer the call and enter the contest.
“I was really happy, I really love contests like these,” xKerod said. “I'm a competitor. I want to win, but share my art with everybody [at the same time]. I really want to do something unconventional, I don't really know what I will do, but it's gonna be insane with my art.”
Those who wish to join xKerod in the contest must submit a piece of art that relates to the parts of either one of the two Axies on the image above, or any six-part summer Axie. Submissions can be drawings, paintings, music, sculptures, 3D printing, or animations. Submit entries through Twitter with the hashtag #AxieSummer. Contestants then just fill an online form to finalize their entry.
Check out Axie Infinity’s Substack post for more details.
What Is Axie Infinity:
Axie Infinity is a PlayAndEarn blockchain game where players breed, collect, and play with digital pets called Axies and earn from the interactions. It’s built on Ronin, an Ethereum-based side-chain developed by Vietnamese-based gaming studio Sky Mavis. The protocol put eyes on the PlayAndEarn gaming industry back in 2021. In addition, the team is building a digital nation where each community member comes together to play, earn, and live in Lunacia.
Where to find Axie Infinity:
Website | Twitter | Medium | Whitepaper
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow!
How Does the PancakeSwap IFO Work with New iCAKE
To participate in IFO events, participants must have a PancakeSwap profile, obtain iCAKE, and have CAKE tokens ready for use. Pay attention to the start time of the one-hour events!
Initial Farm Offerings on PancakeSwap
Initial Farm Offerings (IFOs) are a type of token sale event that function through the use of farming features offered through a decentralized exchange (DEX).
PancakeSwap is the leading platform adopting this fundraising model. IFOs allow users to gain early access to newly issued tokens as they are added to the DEX. The IFO model offered benefits to users and dev teams. Users benefit from higher rewards accruing to them by virtue of early investment in a new token. Dev teams benefit from the liquidity offered by the (DEX).
Introducing iCAKE
On June 29, PancakeSwap, in an announcement blog, announced the launch of its first fixed-term CAKE staking benefit, iCAKE. According to the DEX, iCAKE was launched to offer CAKE holders increased benefits in the form of the IFO.
While noting that the iCAKE is not a token, PancakeSwap informed users that it exists as a numerical metric within PancakeSwap to determine the CAKE limit each participant can commit towards a PancakeSwap IFO.
IFOs on PancakeSwap with iCAKE
Are you looking to participate in the next round of IFOs on PancakeSwap using its new iCAKE? Here is how it works:
Create your PancakeSwap profile and lock CAKE in the CAKE Syrup Pool to get iCAKE
A PancakeSwap profile is required for any user to be a participant in an IFO event on PancakeSwap. After creating a profile, the user is required to obtain iCAKE by staking CAKE tokens in the CAKE Syrup Pool on the IFO page. The longer the CAKE tokens are staked, the more iCAKE is allocated.
Ready your CAKE
As well as iCAKE, users need additional CAKE tokens in their wallets to purchase the offerings of the IFO event. IFO events on PancakeSwap usually last one hour, within which users can participate.
Participants choose
IFOs of Pancakeswap are broadly categorized into Public Sales and Private Sales. With CAKE tokens readied for use, IFO participants have the option to determine the kind of sale they would like to participate in.
In Public Sales, participants can commit only as many CAKE tokens as permitted within their iCAKE limit. Whereas in a Private Sale, investment of CAKE tokens is limited to the threshold provided by the Private Sale. The threshold is usually published along with the IFO voting proposal.
And it is a wrap!
Upon the conclusion of the IFO event, users have access to their new tokens. Interestingly, the number of new tokens a participant is distributed depends on the number of people participating in the IFO. Unallocated CAKE tokens are returned to the owners.
Commenting on the introduction of iCAKE and its usage for determining IFO allocations, Chef Bun told BSC News that:
“We don’t think such requirements like ‘lock CAKE to get iCAKE & participate in IFOs’ is a “limitation.” It is a mechanism we built to ensure every product in PancakeSwap is built for CAKE and built around CAKE. This will ensure the value is well accrued to loyal CAKE holders. This has been a theme of PancakeSwap (remember IFO CAKE Pool?) and will continue to stay the same. And our Business Development team has been working hard to bring more juicy IFOs with great projects to our CAKE community.”
What is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BSC. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make 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 volumes in the market, PancakeSwap is the leading DEX on the BSC.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub|
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow!
