The main goal is to boost the Arbitrum and PancakeSwap ecosystem. Let’s discover more about this important news.
The Pancakeswap Grant
The work towards getting the grant started on March 2nd, 2024. PancakeSwap submitted its long-term incentive pilot program (LTIPP) proposal to Arbitrum DAO. The LTIPP proposal comprises PancakeSwap’s plans to introduce utility-based products to Arbitrum.
The proposal got a lot of support from PancakeSwap partners and the arbitrum community. Wintermute commended the application, saying that PancakeSwap always offers innovative solutions. Wintermute’s endorsement noted, “PancakeSwap’s application was solid and met all the criteria.’ The LTIPP proposal got a 95.8% approval rate in a vote held on April 16th, 2024.
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Initiatives and Product Launches
PancakeSwap outlined several initiatives and launches to grow the PancakeSwap and Arbitrum ecosystems. The grant has a reward pool of 450,000 ARB tokens. They will distribute the 450,000 ARB token reward via different programs. Here’s information about the Reward distribution:
- v3 Liquidity Mining: v3 liquidity mining will receive 330,000 ARB tokens. You can earn rewards by providing liquidity to pools on PancakeSwap. The process is:
- Finding eligible pools listed on Merkl Pools.
- Seeding liquidity via the PancakeSwapV3 icon.
- Stake LP tokens on the PancakeSwap Farms page to earn PancakeSwap Farm and Merkl rewards.
- Claiming rewards on PancakeSwap and ARB rewards on Merkl.
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- Stryke Options Liquidity Mining
Stryke Options liquidity mining gets 60,000 ARB tokens. Participants can:
- Identify eligible pools on Merkl Stryke Pools.
- Seed liquidity through the StrykePancakeSwap icon on the Options trading UI.
- Claim ARB rewards on Merkl.
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The upcoming Prediction product also gets 60,000 ARB tokens. The dapp intends to host campaigns once the Prediction product launches to encourage engagement.
Future Plans
The grant reflects its commitment to growth and development. This dapp aims to bring more opportunities to both ecosystems.
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