PancakeSwap NFTs offer users exclusive access to Era 7 IFO, which has been successfully completed.
Private Sale
Era7, a play-to-earn combat card game was launched on PancakeSwap raising $360k in the private sale and $1.44 million in the public sale. This Initial Farm Offering (IFO) is the first project to launch on PancakeSwap’s after the introduction IFO 3.1.
IFO 3.1 allows only holders of Pancake Squad’s Non-Fungible Token (NFTs) to participate in the private round capped at a maximum of $300 for each PancakeProfile. The launch was successful as 4,000,000 $ERA tokens were fully subscribed.
Participants that are eligible will commit their $CAKE for $ERA token and upon conclusion of the private sale, the new token subscribed can be claimed and unspent $CAKE can be reclaimed. IFOs in the future will be launched using the same method, creating value for the holders of the Pancake Squad NFTs.
Rewarding Loyalty
Entry into private rounds are often limited to exclusive invites. Invitees are often existing stakeholders or close associates. Highly sought after projects are often fully subscribed minutes after the public sale is opened. The price difference between the private sale and public sale alone would be a sufficient incentive to participate.
PancakeSwap is experimenting with NFTs to create an exclusive pass that unpacks benefits to its holders. NFT utility for the PancakeSwap platform is currently confined to its IFO, but if this turns out to be a successful model, the same concept could be utilized for Decentralized Finance (DeFi) protocols. Holders of a certain collection of NFTs stand to earn better yields or higher returns on savings.
What is PancakeSwap?
PancakeSwap is a Decentralized Exchange (DEX) built on the 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.
PancakeSwap’s official links are available below:
Source : bsc.news
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