# IFO (Initial Farm Offering)

![](/files/YPJl4LzN26ZCYX7dK0xg)

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.

Learn [how to find IFO smart contracts](https://github.com/pancakeswap/pancake-document/blob/french/products/ifo-initial-farm-offering/broken-reference/README.md)

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

Visit <https://pancakeswap.finance/ifo> to find out more about IFOs.

Before Sale:

1. [Buy CAKE](https://exchange.pancakeswap.finance/?_gl=1*1bc8owa*_ga*ODA4ODE5MjM4LjE2MDUxNTI3NTE.*_ga_334KNG3DMQ*MTYwNTQ4OTEwNy4yNi4xLjE2MDU0ODkxMjcuMA..#/swap) tokens

During Sale:

1. While the sale is live, commit your CAKE tokens to buy the IFO tokens at <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.

## **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.
{% endhint %}

## 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)


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