The multi-chain suite of products offers tantalizing benefits to the community.
New IFO Launch – Hot Cross
The top Binance Smart Chain (BSC) AMM and DEX protocol, PancakeSwap is set to launch its latest IFO HOT Cross on Thursday, May 20th. Following the success of its past IFO launches, the new release is expected to raise substantial funds totaling a combined $2.5 Million from the event, which consists of two tiers: Basic and Unlimited Sales.
Users can only commit a limited amount but may expect a higher return per token committed. Funds to be raised in Basic are at $750 000, and the CAKE token value to burn is $375, 000.
- Unlimited Sales:
Users do not have a limit to commit; however, returns per token committed are not as high as Basic Sales. Additional fees are applied when claiming. Unlimited sales consist of 70% of the total sales, with $1,750 000 to be raised and $875,000 worth of CAKE tokens to be burnt.
Joining the IFO
The following steps must be completed to take part in the token sale:
Activate your profile: Only an activated profile will be allowed to take part in the token sale.
Get CAKE-BNB LP tokens: You’ll have to stake CAKE-BNB in the LP pool; only the LP tokens will be allowed for purchase during the sales.
Commit your LP tokens: When the IFO sales are live, users will be allowed to commit their LP tokens to purchase. The team recommends you take part in the Basic Sales first, but you can do both as well.
Claim Your Tokens: At the end of the event, lucky buyers will be able to claim their tokens. Unspent CAKE-BNB LP tokens will be sent back.
With the above steps, interested users in the IFO, tomorrow can start ahead by preparing before the event goes live.
About Hot Cross
Hot Cross is a multi-chain tool suite focused on enabling blockchain teams and their communities to thrive. They have developed the following products to date:
Cross Bridge: An easy-to-use ETH to BSC bridge responsible for several fantastic teams coming into the Binance Smart Chain ecosystem.
Cross Pool: Launchpool on Binance Smart Chain, launching May 24th, having undergone an audit by 6 of the best firms in the entire industry.
Cross Mint: An easy-to-use NFT minter that is focused on rapid NFT creation on BSC and Ethereum.
Cross Connect: A sustainable UI component for connecting to ETH and EVM Network chains like BSC, Heco Chain, and Polygon.
Cross API: A soon-to-be-open API that contains all information in the Hot Cross ecosystem, including pools on Cross Pool, Cross Bridge Total Value Locked (TVL), the price of LP tokens on PancakeSwap, and much more.
The Hot Cross project aims to add immense value to the DeFi community by contributing its quality range of product suite, with a true passion for building retail-friendly products that blockchain teams need at their disposal.
About PancakeSwap IFO
Initial Farming Offering (IFO) is a brilliant token launch event made popular by DEX platforms like PancakeSwap, which offers project teams and communities a more refined fundraising approach to facilitate project build. As the BSC’s most influential DEX platform, PancakeSwap is the premier choice for new projects to launch their IFOs.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.