Pancakeswap has announced that it will support the Hot Cross (HOTCROSS) IFO. The Pancakeswap event starts on May 20.
Continuing to host token distribution with the first farming supply (IFO) model, Pancakeswap will support the Hot Cross platform, which aims to provide cross-chain services for blockchain developers and communities. IFO will start on May 20 and end on the same day.
Who can attend the event?
Those wishing to participate in the Hot Cross IFO event must create a Pancakeswap profile and add CAKE and BNB tokens to their wallet before the HOTCROSS sale begins.
After these transactions, users need to buy CAKE-BNB LP tokens by depositing CAKE and BNB tokens in the Pancakeswap liquidity pool. These tokens will be used to purchase HOTCROSS during the sale.
Those who want to buy CAKE-BNB LP tokens before IFO can stake CAKE and BNB.
HOTCROSS sales information
During the event, a total of 50 million HOTCROSS tokens will be sold, with each token for $ 0.05. As per the IFO format, users can deposit a maximum of $ 100 tokens without a joining fee, or deposit an unlimited amount of tokens by paying a minimum 1 percent participation fee.
Once the sale is complete, users will be able to receive HOTCROSS tokens, and CAKE-BNB LP tokens not spent at the time of sale will be returned to users.
If a total of $ 2.5 million token is sold, $ 1.2 million CAKE will be burned.