Magpie is set to launch Eigenpie, a platform that will offer Liquid Restaking services through EigenLayer technology.

Eigenpie claims that this will optimise passive income opportunities for users while contributing to the sustained growth of the Ethereum ecosystem.

With Eigenpie, participants will be able to to deposit their Liquid Staked Tokens (LSTs), receiving a liquid restaked version of their tokens in the process.

Purportedly, this will enhance flexibility and capital efficiency, adding an extra layer of yield to ETH positions.

A Different Approach to Liquid Restaking

Eigenpie's different approach to Liquid Restaking will emphasise on user experience, expanded opportunities, and compatibility with other Liquid Staking platforms.

To address risks associated with specific LSTs, Eigenpie will also introduce Isolated Liquid Restaking (ILR), a method where tokens can only be minted by depositing a particular LST.

This strategy, they say, will minimise vulnerabilities linked to the depletion of a single LST.

EGP, the governance and revenue-sharing token of the Eigenpie ecosystem, serves to promote decentralized decision-making and financial benefits for holders.

As with other projects in the space, Eigenpie claims that this will foster innovation, attract a broader user base and align platform growth with participant prosperity.

$EGP Token, Airdrop, Details

Early supporters depositing accepted $ETH LSTs will be able to accumulate Eigenpie points, offering them eligibility for the EGP token airdrop and IDO allocation.

For each ETH LST deposited in Eigenpie, users earn 1 point per hour.

The more LSTs held, the higher the points, enhancing eligibility for the EGP token airdrop and IDO allocation.

Eigenpie will apply a 2x point multiplier during the first 15 days.

Early depositors can further boost their points by referring friends, creating groups with referees, and activating a point multiplier when the group's LST deposits exceed a set threshold.

Distribution Schedule

The distribution plan encompasses various elements.

The Initial DEX Offering (IDO) allocates 40% of the total EGP token supply, providing an opportunity for broader community participation.

Community Incentives constitute a large portion, with 35% dedicated to recognizing and rewarding user engagement.

The Magpie Treasury is allocated 15%, ostensibly to secure resources for future developments and sustainability.

10% is reserved for the Early Supporters Airdrop.

Eigenpie will not allocate any tokens for its team members in the token distribution.

This, according to their official website, is done in the spirit of fairness and an appreciation for the platform's early supporters.