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PancakeSwap Receives 450,000 ARB Grant from Arbitrum

Twitter icon  •  Published 7 months ago on June 12, 2024  •  Hassan Maishera

The Pancakeswap team announced via a blog post on Tuesday that it has received a grant from Arbitrum to help grow both the PancakeSwap and Arbitrum ecosystems.

PancakeSwap Receives 450,000 ARB Grant from Arbitrum

The Pancakeswap team announced via a blog post on Tuesday that it has received a grant from Arbitrum to help grow both the PancakeSwap and Arbitrum ecosystems. PancakeSwap has 450,000 ARB rewards to distribute over the next 12 weeks on Arbitrum PancakeSwap.

Per the team, 330,000 ARB will be allocated for v3 liquidity mining, 60,000 ARB for Stryke options liquidity mining, and 60,000 ARB for Prediction. 

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by 4% today and is currently trading at $2.495.

Arbitrum is a suite of scaling solutions on Ethereum that utilize Optimistic Rollup. It allows users to enjoy faster speed and cheaper transaction costs when interacting with web3 dApps. ARB, the native coin of the Arbitrum network, is down by 1% today and is trading at $0.9387.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.