In today's rapidly developing blockchain world, Eigenpie (EGP) is attracting more and more attention as a re-staking platform focused on holders of Ethereum Liquid Staked Tokens (LST). This article will delve into Eigenpie’s project background, highlights, market expectations and its economic model to help readers better understand the potential of this emerging platform.
1. Project introduction
Eigenpie is part of the Magpie ecosystem and uses EigenLayer's technical foundation to provide users with re-pledge services. Users can deposit ETH or LST (such as Lido's stETH, Rocket Pool's rETH, Binance Staking's wBETH, etc.) into the Eigenpie platform to expand profit potential through re-staking. Through this process, users will receive Liquid Restaking Tokens (LRT), which not only maintain liquidity but also continue to accumulate staking rewards.
Eigenpie has also partnered with ssv.network to launch the Native Restaking feature, allowing users to participate in the verification process in a decentralized manner. This innovation not only enhances the security of staking operations, it may also increase staker rewards. Eigenpie aims to provide ETH holders with efficient and flexible asset management solutions to maximize their potential returns.
2. Highlights of the project
Isolated liquidity re-hypothecation
The biggest highlight of Eigenpie is that it provides exclusive liquidity re-pledge channels for each type of LST. This design effectively reduces cross-token risks, ensures the independence of each LST, and provides a safer re-staking environment. Through the support of EigenLayer, users can obtain LRT representing re-pledged assets, maintain the liquidity of assets and continue to receive staking rewards.
Combining native staking and liquidity: Through cooperation with ssv.network, Eigenpie launched the Native Restaking function, allowing users to participate in the verification process in a decentralized manner. This mechanism not only enhances the security and reliability of staking, but also provides pledgers with a flexible operation method, which can not only take advantage of liquidity re-staking, but also obtain more benefits from original staking.
Extensive LST support and DeFi integration: Eigenpie supports many well-known LST assets, including Lido’s stETH, Rocket Pool’s rETH, Binance’s wBETH, etc. These tokens can be re-pledged through the Eigenpie platform to further enhance their liquidity. In addition, Eigenpie is deeply integrated with multiple DeFi platforms, such as Pancake, Pendle and Camelot, providing users with rich usage scenarios for LRT and helping them obtain higher returns in the DeFi ecosystem.
Continuously growing TVL and solid financial support: Eigenpie’s total lock-in value (TVL) has reached US$1.17 billion and has maintained steady growth. This shows that the platform has attracted the attention of a large number of users and capital and demonstrated its market prospects. Although the platform has not yet disclosed the specific amount of financing, it has received support from multiple well-known investors, including Robot and the Arbitrum Foundation, laying a solid foundation for its future development.
3. Market value expectations
Eigenpie ($EGP) has demonstrated great potential in the DeFi re-pledge field with the technical support of EigenLayer and the resource integration of the Magpie ecosystem. Through the isolated liquidity re-hypothecation service, Eigenpie provides users with a flexible asset management method and supports the re-hypothecation of various LST.
Based on the performance of other decentralized staking and re-staking projects, the market value of the $EGP token is expected to be as follows:
Benchmark Ether.Fi: When the circulating market capitalization is US$277.4 million, the price of the $EGP token is approximately US$2.34.
Benchmarking Renzo Protocol: When the circulating market value is US$75.31 million, the $EGP token price is approximately US$0.63.
These benchmarks show that Eigenpie has significant development potential in the DeFi ecosystem. As more users enter the re-staking market and the platform functions expand, the market value of the $EGP token is expected to rise further, driving up the token price.
4. Economic Model
Eigenpie’s economic model revolves around its native token $EGP, with a total token supply of 10 million, and the distribution mechanism has been carefully designed to ensure fairness and the long-term development of the project. The following is the detailed allocation plan of $EGP:
Private placement round: 34% is allocated to private placement round investors, and will be unlocked linearly after 6 months of lock-up.
Public offering round: 2% will be allocated in the public offering round and will be unlocked immediately.
Third-party Launchpad: 1% is distributed through third-party Launchpad.
CEX listing: 2.77% will be distributed upon listing on the centralized exchange.
Magpie Treasury: 15% will be used for future ecological development.
Community incentives: 15% is used to encourage community participation.
Airdrop: 11% will be unlocked 6 months after TGE.
Liquidity: 5% is used for liquidity provision.
Strategic investors: 5.34% is allocated to strategic investors.
Ecological development: 8.89% is used for the development of the ecosystem.
In addition, users can also lock $vIEGP tokens on the Eigenpie platform and participate in the governance and decision-making of the platform. This lock-up mechanism is designed to encourage long-term holders to participate in governance and enhance the decentralization of the platform.
in conclusion
As an innovative re-pledge platform, Eigenpie (EGP) shows broad application prospects in the DeFi field with its unique economic model and strong technical support. As the market continues to develop, Eigenpie will undoubtedly become the focus of investors' attention, helping users find the best balance between liquidity and income.