OpenMeta NFT Marketplace launches on Arbitrum

by James · February 20, 2023

PancakeSwap is hosting its first Initial Farm Offering event on the Aptos Network, as part of the launch of the BlueMove NFT marketplace’s MOVE token.

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$400K Fundraiser for BlueMove NFT Marketplace

PancakeSwap is rolling out its line of products on the Aptos Network, with its first Initial Farm Offering (IFO) set for February 9. The IFO is intended to raise $400,000 for the BlueMove NFT marketplace through the sale of the MOVE governance token.

From 12:00-14:00 UTC on February 9th, users who have $CAKE on Aptos can participate in the sale, with 10 million $MOVE on the block for $0.04 apiece.

Unlike IFOs on the BNB Chain, participants in the BlueMove IFO are not required to stake or lock $CAKE – they only need to hold $CAKE on Aptos and commit their tokens to the sale.

1/12 🌊 BlueMove IFO will take place at Aptos PancakeSwap on Thursday, February 9th from 1200-1400 UTC!

To clear up some frequently asked questions, read this thread 🧵

— PancakeSwap 🥞 #Multichain (@PancakeSwap) 6 February 2023

PancakeSwap uses the overflow method of allocation, so if the IFO is oversubscribed, users will receive the percentage of the supply they have committed to purchase, along with the relevant $CAKE refund.

At the Move Token Generation Event (TGE … or ‘launch’), 40% of the tokens will be unlocked (ie made available for sale or trading), while the remaining 60% will be unlocked over three months.

The $10 million MOVE in IFO represents 3.33% of the total token supply.

9/12 How many tokens will be unlocked from IFO on TGE?

40% of tokens will be unlocked on TGE and the remaining 60% will be unlocked block-by-block over 3 months.

— PancakeSwap 🥞 #Multichain (@PancakeSwap) 6 February 2023

For detailed information on the Overflow method and IFO, read this PancakeSwap Medium post.

As part of IFO, PancakeSwap hosts a year-long $MOVE Syrup Pool and a 120-day $MOVE-$APT Farm.

As BlueMove’s name suggests, NFT Marketplace is live on both Apto’s main network and Sui’s test network. Aptos and Sui are blockchains powered by the Move programming language originally developed for Facebook’s scrapped Diem project.

What is PancakeSwap:

PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain. It offers users various features such as liquidity pool, exchange, yield farming, syrup pool, Automated Market MakerInitial farm offer (IFO), NFT profile system and many others.

In addition, the protocol helps users make the most of crypto assets by trading, earning through yield farming and winning via lottery, prediction and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BNB chain.

Where to find PancakeSwap:

Website | Twitter | Medium | GitHub

What is Aptos:

Aptos is a new, independent project focused on delivering the most secure and production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers and builders of Diem, the blockchain first built to serve this purpose.