Eigenpie: New Opportunities and Profit Analysis in the LRT Track

Eigenpie, as a new project targeting LRT, has recently launched a rewards program, offering considerable earning opportunities for TVL providers. This article will delve into the operational mechanisms, prospects, and potential returns of Eigenpie.

Multiple Earning Opportunities

Currently, users can earn the following rewards by depositing stETH and other LSTs:

1. Eigenpie Integral, corresponding to airdrop of 10% of the total amount
2. Eigenlayer Points (available for deposit after February 5)
3. Eigenpie corresponds to 24% of the total IDO share, with a 3M FDV valuation.
4. The basic income of the stored LST

Points will be provided as a benefit based on the total scale of the fleet; the larger the scale, the higher the increase, up to a maximum of twice. Therefore, participants are best advised to choose larger fleets to gain more benefits.

Unique ILRT Mechanism

Eigenpie adopts the Isolated LRT (ILRT) mechanism, issuing corresponding tokens for each LST to isolate risks. This design effectively addresses the comprehensive risk issues that traditional LRT projects may face, allowing each LST to independently participate in the LRT ecosystem without worrying about the potential risks of other assets.

Although the isolation risk also means isolation of liquidity, it won't cause major problems. The LRT that supports LST has a significant advantage over the LRT that supports native staking, as it can fully utilize the liquidity of the underlying LST. Separate trading pairs are actually more beneficial for collaboration with LST project parties to incentivize liquidity.

Market Prospects Analysis

The advantage of Eigenpie lies in filling the market gap: LSTs that have been launched on certain platforms wish to participate in the LRT ecosystem, and Eigenpie provides the best solution. Each LST has an independent LRT, avoiding risk contagion. High-yield LSTs like mETH can also continue to leverage their advantages on this platform.

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

Expected Returns

Token Economic Model:

• IDO: 40%
• Airdrop: 10%
• Incentive: 35%
• Magpie Treasury: 15% (typically not for sale, staking rewards distributed to vlMGP)

This is essentially an operation that is fairly released, with the special aspect being that the IDO whitelist is mostly explicitly granted to the TVL providers.

Rights available to TVL providers:

• 10% of total airdrop
• 60% of IDO share (IDO accounts for 40% of the total, with a FDV valuation of 3M USD)

Approximately 34% of the tokens will be allocated to TVL providers, accounting for about 70% of the initial circulating supply. In the future, there will also be no pressure from venture capital sell-offs.

Considering the current popularity of the LRT track, the potential value of Eigenpie could be quite substantial. If we refer to the valuations of some already launched projects, early participants' returns could reach a significantly high level.

Conclusion

• Choose a large fleet when participating in airdrops to gain higher benefits.
• The ILRT mechanism is a feature of Eigenpie that effectively isolates the risks of each LST.
• The project can fully leverage existing resources to accelerate development.
• Most of the equity is transparently distributed to TVL providers, reflecting the concept of fair distribution.

For investors looking to gain returns in the LRT track, Eigenpie is undoubtedly a new option worth paying attention to.