Eigenpie: A New Player in the LRT Track

Recently, Magpie launched a points activity for the subproject Eigenpie of LRT, bringing considerable profit opportunities for TVL providers. This article will delve into the participation methods, operating mechanisms, development prospects, and potential earnings of Eigenpie.

Participation Method

Currently, users can earn multiple benefits by depositing stETH and other LSTs:

1. Eigenpie Integral, corresponding to a total of 10% airdrop.
2. Eigenlayer Points (Available for Deposit after February 5)
3. Eigenpie total supply 24% IDO allocation, initial valuation 3M
4. The basic earnings of the stored LST

Points will be increased based on the size of the fleet, with a maximum of up to double. It is recommended to choose a larger fleet to achieve higher returns.

Operating Mechanism

Eigenpie adopts the Isolated LRT (ILRT) model, issuing corresponding tokens for each LST to isolate risks. This approach effectively addresses the risk issues that may arise from uniformly accepting multiple LSTs.

Although the isolation risk also implies isolated liquidity, Eigenpie can fully leverage the liquidity of the underlying LST by supporting the LRT model for LSTs. Separate trading pairs are more conducive to cooperating with LST project parties to incentivize liquidity.

Development Prospects

Eigenpie fills the current market demand gap: all LSTs that have launched on Eigenlayer hope to participate in the LRT narrative, and Eigenpie provides the best solution. Each LST has an independent LRT, avoiding risk crossover. High-yield LSTs (such as mETH) can continue to leverage their advantages.

The project team has a strong willingness and ability to promote DEX trading and launch on other platforms, which will bring substantial profits to the sub-projects under Magpie.

Expected Returns

Token economic model:

• IDO: 40%
• Airdrop: 10%
• Incentive: 35%
• Magpie Treasury: 15%

This is a relatively fair issuance model, with most IDO whitelists granted to TVL providers. TVL providers can obtain:

• 10% of total airdrop
• 60% of the IDO share (IDO accounts for 40% of the total, initial valuation 3M)

TVL providers will receive about 70% of the initial circulation, and there will be no future venture capital selling pressure.

Considering the current popularity of the LRT track, Eigenpie's potential valuation may far exceed the current level. If we refer to the valuations of other projects, early participants are expected to gain considerable returns.

Summary

• To participate in the airdrop, you need to choose a large fleet to gain higher benefits.
• The ILRT mechanism effectively isolates the risks of each LST.
• Fully leverage Magpie's resource advantages in the DeFi ecosystem
• Adopts a fair distribution model, with most rights clearly allocated to TVL providers.