Eigenpie is a multichain LRT protocol that implements the isolated staking model. It enables a more security-focused approach to staking, where each specific LST or ETH token is backed by its own assets and isn't mixed with other assets. This allows users to mitigate the risk of their LRT performance being impacted if another asset in a different bucket is depegged.
The protocol is powered by the native $EGP token, used for governance within the Eigenpie ecosystem. On September 20th, the Eigenpie crypto project launched its IDO round on the Magpie launchpad, allocating over 36% of the total supply for the sale.
Eigenpie - IDO on Magpie Overview
Private: 6 month cliff linear unlock over 2 years;
Public: no lockup.
Magpie XYZ
Eigenpie - IDO on Magpie Round Result
Eigenpie - IDO on Magpie Current Token Data
How to join Eigenpie - IDO on Magpie?
Generally, the Eigenpie IDO has two main stages: Private (Early Access) Sale and a Public round. Here are the details on how to qualify for both rounds:
- Private Round
The Eigenpie private funding round is only available to users who participated in the Eigenpie Priority Access program. According to the Eigenpie blog post, the price per token during this IDO round will be $0.30 per token, which is half the price of other IDO rounds across various platforms.
The main criteria to qualify for this part of the IDO are:
- MGP & vlMGP Burners (3% of total supply)
- vlMGP Holders (7% of total supply)
- Eigenpie Season 1 points holders (24% of total supply): Anyone who earned points through EIGEN before August 15, 12:00 UTC.
If you didn’t meet any of these criteria, you can still qualify for the Public round on the Magpie launchpad.
- Public Round
The public IDO round will be open to anyone who wishes to purchase the $EGP token, with 2% of the total supply allocated for the sale. The Public round will begin 24 hours after the Private round ends and will last for 3 days.
The public round will commence with an FDV of $6M, but the final price of the token will be determined by dividing the total USDT committed by participants by the total number of EGP tokens available in the public round.
For example, if Eigenpie allocates 600K $EGP for sale and receives over $3M in USDT deposits, the final price of the token will be:
3,000,000 USDT / 600,000 $EGP = $5 USDT.
❗️ Also, note that while for the Public round there are no vesting period for the tokens, the participants of Private round will be following 6-month cliff and 2 year vesting period
Good luck! 🍀
Step-by-step Guide
Visit the Magpie launchpad;
Connect your wallet;
Enter the amount of tokens you want to purchase;
Confirm transaction;
Receive your tokens.