In the world of cryptocurrency, governance tokens play a vital role. Today we’ll take a deep dive into Eigenpie Token ($EGP), not only @Eigenpiexyz_io’s governance token, but an innovative project developed by @magpiexyz_io to promote the sustainability of the EigenLayer Liquid staking ecosystem .
Basic Token Information: $EGP is an ERC-20 token with a total supply of 10 million. Users can lock their tokens into vlEGP (Vote Locked EGP) within Eigenpie. Once locked, tokens will be non-transferable, ensuring holders’ participation in the governance process.
Token Information Overview
Name: Eigenpie Token
Code: EGP
Total supply: 10 million
Token type: ERC-20
EGP’s governance role
$EGP is designed to ensure Eigenpie’s governance structure is robust and transparent. By locking EGP into vlEGP, holders can not only participate in Eigenpie's governance decisions, but also receive corresponding participation rewards. This mechanism encourages users to actively participate in the development of the ecosystem.
Advantages of vlEGP
When EGP is locked as vlEGP, the user is locked indefinitely. To unlock vlEGP, users need to activate the "Start Unlocking" feature, which will trigger a 60-day waiting period. During this period, while users will continue to receive rewards, voting rights will be temporarily suspended. This design is intended to protect the stability and effectiveness of the governance mechanism.
EGP’s distribution structure: The distribution of $EGP is carefully designed to ensure fairness and transparency. The following is the specific distribution of tokens:
34% - Magpie Launchpad IDO (private placement round)
2% - Magpie Launchpad IDO (public sale round)
1% - Third Party Launchpad
2.77% - CEX Listing
15% - Magpie Treasury
15% - Community Incentive
11% - Airdrop
5% - Liquidity
5.34% - strategic investor
8.89% - Ecosystem
This distribution strategy not only reflects the emphasis on community, but also lays a solid foundation for the long-term development of the project.
Fund Allocation and Vesting Plan
The Magpie treasury will receive 15% of the total supply of EGP tokens, which will be distributed according to a two-year vesting plan. This measure aims to emphasize the commitment to vlMGP holders and thank the community for its support. We hope that through this distribution, we will further enhance the value of vlMGP holders and promote a collaborative and successful future.
How to Participate in the EGP Token Sale: Eigenpie’s priority access EGP token sale will take place on the Magpie Launchpad. Users can join any of the listed groups to gain priority access and secure their EGP IDO assignment. This mechanism not only enhances users' sense of participation, but also lays the foundation for the success of the project.
in conclusion
The $EGP token is not only a governance tool for Eigenpie, but also the key to promoting the sustainable development of the EigenLayer Liquid re-staking ecosystem. Through a carefully designed token distribution and locking mechanism, $EGP provides users with the opportunity to participate in governance and receive rewards, while also ensuring the long-term stability of the ecosystem.
In this rapidly evolving crypto world, the emergence of $EGP marks a new era of governance tokens. We look forward to seeing how it performs in the future and how it can play an important role in the broader blockchain ecosystem.
By gaining a deeper understanding of the EGP token, we will not only be able to better participate in the governance of Eigenpie, but also contribute to the sustainable development of the entire crypto community. Let us look forward to the future development of $EGP together!