PancakeSwap Initiates Proposal Vote On May 28 To Launch Initial Farm Offering For Lista DAO
In Brief
PancakeSwap plans to launch the Initial Farm Offering for the decentralized stablecoin protocol Lista DAO on its platform.
Decentralized exchange (DEX) PancakeSwap revealed plans to launch the Initial Farm Offering (IFO) for the decentralized stablecoin protocol Lista DAO on its platform. The proposal vote has commenced, scheduled to begin at 12:00 UTC on May 28, 2024, and will remain open for a duration of 72 hours.
The IFO Sale is scheduled for June 2024 to ensure alignment with the requirements of other stakeholders participating in the LISTA IFO launch. The projected fundraising amount is set at $100,000 in CAKE tokens. The offering entails the sale of 5 million LISTA tokens, equivalent to 0.5% of the total LISTA token supply, with each LISTA token priced at $0.02 USD. Upon the token generation event (TGE), all LISTA tokens will become unlocked. Additionally, all CAKE tokens raised from the LISTA token sale will be allocated to the IFO project.
To engage in the IFO, users are advised to either set a Pancake Squad non-fungible token (NFT) as their profile avatar or maintain a balance of over 1500 points. Those interested can acquire a Pancake Squad NFT to gain access to the IFO Private Sale.
To take part in the private sale, users are advised to complete the same steps as outlined for the IFO. It’s important to note that iCAKE cannot be utilized for token purchases during the IFO, and users will need a separate amount of CAKE to engage in the IFO. For the private sale, a total of $10,000 has been allocated, representing 10% of the sale allocation, with each user permitted to commit a maximum amount of $200.
The public sale will account for $90,000, equivalent to 90% of the sale allocation, and will exclusively serve veCAKE holders.
What Is Lista DAO And LISTA Token?
Lista DAO is an accessible liquidity protocol that facilitates users in earning yields on collateralized cryptocurrency assets like BNB, ETH, stablecoins, and more. Additionally, it offers the option to borrow its decentralized stablecoin, lisUSD. The protocol runs on a dual token model consisting of lisUSD and LISTA, featuring mechanisms for instant conversions, asset collateralization, borrowing, and yield farming.
LISTA serves as the native cryptographically secure fungible token within Lista DAO, designed for governance and utility purposes. As per the LISTA tokenomics, 40% of the total token supply will be distributed to the community, while 20% will be evenly divided between Binance Megadrop and airdrop initiatives. Additionally, 19% will be allocated to investors and advisors, 9% to the ecosystem, 8% to the DAO reserve, 3.5% to the team, and 0.5% to the PancakeSwap IFO Sale.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
