Pancakeswap Ends ARENA IFO Refund, Discontinues ARENA Syrup Pool and ARENA-CAKE Farm

02/20/2023 13:08 • Metaverse Matters • 135 views

On February 20, Pancakeswap, the decentralized trading platform, announced that the ESPL IFO Refund airdrop had been completed, which means that the ARENA IFO refund has ended. Pancakeswap will stop the ARENA syrup pool and ARENA-CAKE farm in the next 48 hours.

Pancakeswap: ESPL IFO Refund air drop has been completed, and ARENA syrup pool and ARENA-CAKE farm will be stopped within 48 hours

Interpret the above information:

Pancakeswap, a decentralized trading platform, recently confirmed the completion of the ESPL IFO Refund airdrop which signifies the end of the ARENA IFO refund. The announcement also revealed that Pancakeswap would be concluding the ARENA Syrup Pool and ARENA-CAKE farm within the next 48 hours.

An IFO (Initial Farm Offering) refers to a new token’s initial sale on a decentralized exchange. In this case, ARENA, which is the native token of Esports Fight Club, was offered through the Pancakeswap platform. Investors who participated in the ARENA IFO can get their refunds through the ESPL IFO Refund airdrop.

As of the time of this announcement, the refund airdrop had been concluded, which means that investors who missed the chance to buy ARENA during the IFO cannot buy again. Therefore, Pancakeswap will stop the ARENA Syrup Pool and ARENA-CAKE farm within the next 48 hours.

The ARENA Syrup Pool is a liquidity pool, where Pancakeswap reserves a percentage of new tokens, which enables users to trade on the platform without directly getting the new token. The ARENA-CAKE farm, on the other hand, is a farm that allows users to stake their tokens and win more tokens.

Although several investors may have been disappointed by the end of the ARENA IFO refund, this decision may be a good thing for Pancakeswap. Discontinuing the ARENA Syrup Pool and ARENA-CAKE farm will save the platform space and time. Thus, the management can introduce innovative products for the Pancakeswap community and contribute to the development of the DeFi industry.

In conclusion, Pancakeswap, through the ESPL IFO Refund airdrop, has successfully completed the ARENA IFO refund. Investors who participated in the IFO can retrieve their refunds. However, the ARENA Syrup Pool and ARENA-CAKE farm will be cancelled within 48 hours of this announcement. This decision is necessary to make more space and time for innovative products that will benefit the Pancakeswap community.

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