Community Initial Farm Offering (cIFO) — The New IFO subtype
PancakeSwap community and CAKE holders, today we are introducing the new Community Initial Farm Offering (cIFO) format.
Tl;dr
- cIFOs are an addition to our regular IFOs, with a Public/Private Sale Format
- No change to Public Sale Format
- Private Sale for cIFOs is dependent on the Points you have
- Points are accumulated by joining IFOs, Trading Competitions, and PCS Events
What’s the Community IFO?
The Community IFO is a new variant of IFO designed to reward our loyal IFO community, and also introduce our community to projects with slightly smaller raises.
Therefore, moving forward, we will offer two kinds of IFOs:
- IFOs — targeted towards larger raises and a private allocation for our PancakeSquad holders, and
- Community IFOs (cIFOs) — targeted towards projects with smaller raises and a private allocation for our loyal IFO users based on the points system (of which many PancakeSquad holders would qualify given their IFO participation!).
There are two key differences:
- Private Sale criteria for cIFO will depend on your Points Amount
- Private Sale allocation for cIFO will begin at 30%, and may be adjusted based on Community IFO Performance.
Public Sale rules for Community IFOs remain the same as our regular IFOs.
Why Community IFO?
We have introduced the points system for some time now, since February 2021, and users have been accumulating points by participating in various activities such as IFOs, trading competitions and more. We want to put these points to good use and reward those who have been our greatest supporters and contributors to our community, hence the name- community IFO.
cIFOs also enable us to bring more projects into the pipeline, by allowing us to launch a wider segment of projects through a specialized product.
How to participate in the Private Sale of a Community IFO ?
In order to recognise users who support our IFOs and other products, point holders with more than 800 points will be able to participate in this round’s private sale.
As with all new features and products, this points cut-off of 800 points may be re-adjusted in the future to optimize the performance of the cIFO product. For instance, to consistently reward loyal users, the points cut-off may be adjusted from time to time to incentivize and demonstrate to users the continued benefits of regularly engaging with PancakeSwap.
Please refer to this medium article for more information on the point system.
To check the number of points you have, just perform the following steps:
- Click on the wallet dropdown menu
- Go to your profile
- Check the points that you have!
*To make sure that your points record is the most up-to-date, please check if you have any unclaimed tokens or CAKE from previous IFO sales. Once you have successfully claimed those tokens, your points record will be updated!
How to participate in the Public Sale of a Community IFO ?
Same as our regular IFOs :)
When will it be implemented?
Our chefs are still working hard in the kitchen to make sure the next cIFO will be as tasty as possible… the points system would be implemented with the next cIFO, coming up real soon.
Like reallyyy soon.
Please vote wisely to make it happen!
Stack ’em
The Chefs 🐰🥞
