The main goal is to boost the Arbitrum and PancakeSwap ecosystem. Let’s discover more about this important news.
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.
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:
Stryke Options liquidity mining gets 60,000 ARB tokens. Participants can:
The upcoming Prediction product also gets 60,000 ARB tokens. The dapp intends to host campaigns once the Prediction product launches to encourage engagement.
The grant reflects its commitment to growth and development. This dapp aims to bring more opportunities to both ecosystems.
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.
The post PancakeSwap Receives 450,000 ARB Grant to Boost Arbitrum appeared first on Altcoin Buzz.