APT

PancakeSwap Hosts First IFO on Aptos for BlueMove NFT Marketplace

by BSC News

February 8, 2023

chain

PancakeSwap is hosting its first Initial Farm Offering event on the Aptos Network, as part of the launch of the BlueMove NFT marketplace's MOVE token.

$400K Fundraiser for BlueMove NFT Marketplace

PancakeSwap is rolling out its suite of products on the Aptos Network, with its first Initial Farm Offering (IFO) set for Feb. 9. The IFO is intended to raise $400,000 for the BlueMove NFT marketplace through the sale of its MOVE governance token.

From 12:00-14:00 UTC on Feb. 9, users who hold $CAKE on Aptos can participate in the sale, with 10 million $MOVE on the block for $0.04 apiece.

Unlike IFOs on BNB Chain, participants in the BlueMove IFO are not required to stake or lock $CAKE -- they just have to hold $CAKE on Aptos and commit their tokens to the sale.

PancakeSwap is using the Overflow method of allocation, so if the IFO is oversubscribed, users will receive the percentage of the supply they committed to purchasing, along with the relevant $CAKE refund.

Upon the Move Token Generation Event (TGE ... or ‘launch’), 40% of the tokens will be unlocked (i.e. made available to sell or trade), with the remaining 60% unlocked over three months.

The 10 million $MOVE in the IFO represents 3.33% of the total token supply.

For detailed information on the Overflow method and the IFO, read 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 implies, 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 that was originally developed for Facebook’s scrabbed Diem project.

What is PancakeSwap:

PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. 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 BNB Chain.

Where to find PancakeSwap:

Website | Twitter | Medium | GitHub

What is Aptos:

Aptos is a new, independent project focused on delivering the safest and most production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was first built to serve this purpose.

Where to find Aptos Labs:

Website | Twitter | Telegram | Medium | Discord |

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