Eigenpie is a liquid restaking protocol powered by EigenLayer on the Ethereum, BNB Chain, and Arbitrum networks. It stands out among other protocols by implementing pioneering isolated staking technology, where the LRT is tethered to specific backed LSTs or $ETH tokens, offering users a more security-focused approach to restaking.
$EGP is the platform's governance token, with its main utility being to enable users to vote on proposals within the Eigenpie DAO.
On September 18, 2024, the project launched an IDO round on the Bybit launchpad, allocating over 166K $EGP to the event.
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To participate in the Bybit IDO, you don’t necessarily need a KYC-verified account on Bybit. Instead, you should create a Bybit Web3 wallet, visit the $EGP IDO page, connect it to the platform, and log in or sign up for a Bybit account.
❗️ The UI also allows participation with third-party Web3 wallets, but currently, participation in Bybit Web3 IDOs is limited to Bybit Cloud Wallets, according to the Bybit Launchpad.
Once done, you will receive 1 ticket by default, which will determine your chances of receiving an allocation during the Bybit IDO. The launchpad uses a random allotment model where the more tickets you have for a specific IDO round (maximum of 60), the higher your chances of being chosen and receiving a larger allocation. However, the maximum number of winning tickets is capped at 5.
For example, if you have a maximum of 60 tickets and each ticket represents a $100 USDT allocation, you will have 60 times the chance of qualifying for at least one allocation compared to default platform users. But once you win the lottery five times, you won’t be eligible to participate in further rounds of allocation.
To acquire more tickets, users need to increase their Bybit IDO score and upgrade their tier on the launchpad. Each tier provides the following benefits:
The IDO score is determined by the following:
Additionally, you can receive extra tickets for up to three consecutive unsuccessful IDOs, meaning no allocation received on the launchpad at all.
After the random allotment ends, you will be notified of the number of times you have won during the IDO and will be required to contribute a fixed amount of funds equal to the size of your allocation.
Starting from tier 3, you are also able to purchase even more $EGP tokens in the FCFS round, if there will be any tokens left after the main IDO round. On the FCFS round there are no clear size of your allocation and deadlines, meaning it ends once all the tokens left after the IDO are sold.
Good luck! đź’Ş
Visit the $EGP IDO page on Bybit;
Connect your Bybit Web3 wallet;
Log in/ Sign up to the Bybit (KYC isn’t required);
Increase your IDO score;
Participate in the random allocation round;
If won, enter the required amount of $USDT;
If you have IDO tier 3+, participate in the FCFS round;
Receive your tokens.