Pancakeswap announced that it will support the Horizon Protocol (HZN) IFO. The Pancakeswap event will take place on April 15th.
Announcing the new IFO (First Farming Offering) format on April 9, Pancakeswap is opening the Synthetix fork with Horizon Protocol. The event, which will start on April 15, will end on the same day.
Who can participate?
Users who wish to participate in the IFO event must create a profile on Pancakeswap and add CAKE and BNB tokens to their wallet before the HZN sale begins. Then both tokens need to be deposited into the Pancakeswap liquidity pool and CAKE-BNB LP tokens must be received in return.
Those who want to buy CAKE-BNB LP tokens before IFO starts can stake CAKE and BNB. CAKE-BNB LP price will be determined a few minutes before the sale.
HZN sales details
At the event, where 10 million HZN tokens will go on sale, each token will be $ 0.25. If the 2.5 million dollar HZN is sold, the 1.2 million dollar CAKE will be incinerated.
When the time of sale comes, HZN can be purchased with CAKE-BNB tokens. Due to the new IFO format, users will be able to participate in sales in two different ways. Users can deposit a maximum of $ 100 tokens without a joining fee or choose to deposit unlimited tokens with a minimum fee of 1%.
After the sale, users will be able to receive HZN tokens and CAKE-BNB tokens that are not used in the sale will be refunded to users.