# IFO (Initial Farm Offering)

![](https://2908774936-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MHREX7DHcljbY5IkjgJ-1972196547%2Fuploads%2FjiQKScYh3gGX7l82eImC%2Fifo-header.png?alt=media\&token=58f776a4-f7cd-48bd-8a0e-8cb2be373129)

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As part of the [Tokenomics 3.0 upgrade](https://pancakeswap.finance/voting/proposal/0x79ef496c9737e48d9677a6e291ff2a549dee6729c9996398e453af8ecbf0ceb3), this main page and its related sub-pages will be updated.
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Buy new tokens using CAKE.

The project gets the CAKE, PancakeSwap burns the participation fees CAKE. **You get the tokens.**

1. **You will need CAKE** to participate.
2. **You will need iCAKE** to participate in Public Sales.
3. **You will need to meet certain requirements** to participate in Private Sales.

Learn [how to participate in IFO](ifo-initial-farm-offering/ifo-guide).

## **How to participate in an IFO**

Visit [https://pancakeswap.finance/ifo](https://pancakeswap.finance/ifo) to find out more about IFOs.

**Before Sale:**

1. [Complete your PancakeSwap profile setup](ifo-initial-farm-offering/nft-profile-system/profile-guide).
2. [Buy CAKE](https://exchange.pancakeswap.finance/?_gl=1*1bc8owa*_ga*ODA4ODE5MjM4LjE2MDUxNTI3NTE.*_ga_334KNG3DMQ*MTYwNTQ4OTEwNy4yNi4xLjE2MDU0ODkxMjcuMA..#/swap) tokens
3. [Lock CAKE in the CAKE syrup pool](../archive/legacy-products/new-cake-pool/fixed-term-staking) to get iCAKE.

**During Sale:**

1. While the sale is live, commit your CAKE tokens to buy the IFO tokens at [https://pancakeswap.finance/ifo](https://pancakeswap.finance/ifo)

**After Sale:**

1. When the sale is complete, claim the IFO tokens you've bought.
2. Done! In the case of an [overflow](https://app.gitbook.com/@pancakeswap-1/s/pancakeswap/~/drafts/-MMK-KmBq5_Mfs94Ul6x/core-products/ifo-initial-farm-offering#overflow) you can reclaim your remaining CAKE tokens.
3. In the case of an IFO with token vesting, come back to the IFO page throughout the vesting period to claim the released tokens until the end of the vesting period.

## How to participate in a CrossChain IFO

Visit [https://pancakeswap.finance/ifo](https://pancakeswap.finance/ifo) to find out more about IFOs.

It only takes a few extra steps to participate in a CrossChain IFO than a regular BNB Chain one.

**Before Sale:**

1. Sync your veCAKE to the destination chain where the crosschain IFO is being conducted.

**During Sale:**

1. (Optional) If you increased your veCAKE balance mid-IFO, you will need to sync again.

Learn more about [how to participate in a crosschain IFO](#how-to-participate-in-a-crosschain-ifo).

## **What is the “Overflow” sale method?** <a href="#overflow" id="overflow"></a>

TLDR: Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent.

In the “Overflow” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.

{% hint style="warning" %}
**It's possible to receive no tokens at all**: If you commit a very small amount of CAKE compared to the total amount committed by others, your contribution may be such a small part of the total that you may not qualify for even a small portion of the tokens sold.\
In such a case, you will still be able to reclaim all the CAKE tokens you committed.
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## What happens if the IFO doesn't raise all the funds targeted?

The sale will proceed as normal, and all funds contributed will be spent.

## Want to launch your own IFO?

Launch your project with PancakeSwap, BNB Smart Chain’s most-used AMM project and liquidity provider, to bring your token directly to the most active and rapidly growing community on BSC.

👉 [Apply to launch now! ](https://docs.google.com/forms/d/e/1FAIpQLSf0Vmy3k0KyXtXwqxr8QLjD8Xd6KBAmkYxcBRRVTUYJVX17fA/viewform)
