PancakeSwap Receives 450,000 ARB Grant to Boost Arbitrum

By Altcoin Buzz
about 1 month ago
BOOST FTR CAKE ARB BNB

This important BNB dapp received a grant from Arbitrum.

The main goal is to boost the Arbitrum and PancakeSwap ecosystem. Let’s discover more about this important news.

The Pancakeswap Grant

The work towards getting the grant started on March 2nd, 2024. PancakeSwap submitted its long-term incentive pilot program (LTIPP) proposal to Arbitrum DAO. The LTIPP proposal comprises PancakeSwap’s plans to introduce utility-based products to Arbitrum.

The proposal got a lot of support from PancakeSwap partners and the arbitrum community. Wintermute commended the application, saying that PancakeSwap always offers innovative solutions. Wintermute’s endorsement noted, “PancakeSwap’s application was solid and met all the criteria.’ The LTIPP proposal got a 95.8% approval rate in a snapshot vote held on April 16th, 2024.

Source: X
Initiatives and Product Launches

PancakeSwap outlined several initiatives and launches to grow the PancakeSwap and Arbitrum ecosystems. The grant has a reward pool of 450,000 ARB tokens. They will distribute the 450,000 ARB token reward via different programs. Here’s information about the Reward distribution:

  • v3 Liquidity Mining: v3 liquidity mining will receive 330,000 ARB tokens. You can earn rewards by providing liquidity to pools on PancakeSwap. The process is:
    • Finding eligible pools listed on Merkl Pools.
    • Seeding liquidity via the PancakeSwapV3 icon.
    • Stake LP tokens on the PancakeSwap Farms page to earn PancakeSwap Farm and Merkl rewards.
    • Claiming CAKE rewards on PancakeSwap and ARB rewards on Merkl.

Source: X
  • Stryke Options Liquidity Mining

Stryke Options liquidity mining gets 60,000 ARB tokens. Participants can:

  • Identify eligible pools on Merkl Stryke Pools.
  • Seed liquidity through the StrykePancakeSwap icon on the Options trading UI.
  • Claim ARB rewards on Merkl.

Source: X

The upcoming Prediction product also gets 60,000 ARB tokens. The dapp intends to host campaigns once the Prediction product launches to encourage engagement.

Future Plans

The grant reflects its commitment to growth and development. This dapp aims to bring more opportunities to both ecosystems.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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