Eigenpie’s airdrop gameplay, mechanism, prospects and revenue expectations

Author: CapitalismLab Source: @NintendoDoomed

Magpie's subDAO for LRT @Eigenpiexyz_io has started a points activity today. This is the biggest cake for TVL providers in the LRT project so far. The project is unique and Magpie's subDAO has previously had huge profits and configuration value. Hengao.

This Thread will analyze Eigenpie’s airdrop gameplay, mechanism, prospects, and revenue expectations to help you clearly maximize your returns.

A. Airdrop gameplay

Currently deposit stETH and other LST to get triple benefits:

1. Eigenpie points, corresponding to 10% of the total airdrop

2. Eigenlayer points (after Eigenlayer opens deposits on February 5)

3. Eigenpie corresponds to 24% of the total IDO share, and 3M FDV has a low valuation

3. The basic income of the deposited LST (for example, if mETH APR is 7%, you can continue to enjoy 7%)

The points will provide gains based on the total size of the fleet. The larger the The greater the fleet growth, up to double, so it is best to stay together to keep warm. Welcome to join: https://eigenlayer.magpiexyz.io/?ref=0x307225Bc52ef0fEDAa67b626996c0E74cEA924Ee

After using it, if you continue to invite new people, they will also join the team.

B. Mechanism

Eigenpie is to isolate LRT (ILRT). Each LST sends a corresponding Token to isolate risks. See the table below:

Eigenlayer currently has so many LSTs on it. If an LRT project accepts it in general, then this project will have to bear the risks of all underlying LSTs. Once a certain A security problem in an LST may cause a devastating blow to it.

So Eigenpie’s ILRT can isolate risks, isolate risks and isolate liquidity. Will this cause problems? In fact, it doesn’t matter. Compared with LRT that supports Native Staking, one of the advantages of LRT that supports LST is that it can fully utilize the liquidity of the underlying LST. Individual pairs such as mrETH/rETH and mmETH/mETH are actually more conducive to cooperating with LST project parties to stimulate liquidity.

C. Prospects

What are the advantages of this project? After all, it was indeed released a little late, but there is indeed a gap in demand that has not yet been filled: LSTs who have joined Eigenlayer are eager to participate in the LRT narrative, and Eigenpie is currently the best solution, and each LST has an independent The LRT doesn’t have to worry about making wedding clothes for other people. LST, which has a higher interest rate like mETH, can also continue to exert its advantages.

When can mstETH from Mint be traded on DEX? Will it be on Pendle?

It is obvious that the project party has great willingness and ability to promote these. Without him, these can bring generous bribes to Magpie's Cakepie and Penpie subDAOs. income.

If you don’t understand Magpie’s architecture, you can refer to our previous tweets:

https://twitter.com/NintendoDoomed/status/1680457697576255489

D. Earnings Expectations

In terms of income, let’s first look at the token economy:

• IDO: 40%

• Airdrop: 10%

• Incentive 35%

• Magpie Treasury: 15% (not sold as usual, staking dividends to vlMGP)

Basically a FairLaunch operation, the difference is that currently most Fairlaunch whitelists are more default , and most of this IDO whitelist is clearly given to TVL providers

The rights given to TVL providers are:

1. 10% airdrop of the total amount

2. 60% IDO share, IDO accounts for 40% of the total amount, $3M FDV valuation

That is to say, 10%+60%*40% = 34% of the total amount will be given to TVL providers, which accounts for the initial circulation 34%/50% = ~70%, no VC will sell these in the future

Currently LRT narrative is very hot, with only $7M TVL $RSTK  both having $35M mcap and $180 M FDV has released several other projects with very high valuations

Eigenpie’s final TVL will probably be much higher than RSTK. If according to $ If RSTK's FDV benchmarks, the total profit of TVL providers can also reach: 10%*180+60%*40%*(180-3)= $60M

Assuming that the currency is issued two months later and the average TVL is $200M, it can also reach (60/2)/200*12= 180% APR. This does not include the income of the underlying Eigenlayer points, which is in the top 15 Participating as an early provider today has a 2 times increase in points

Let’s take a look at the previous increase in magpie’s subDAO IDO so far:

• Penpie, IDO 3M FDV, 14x

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• Radpie, two rounds of IDO average 7.5M FDV, 1.4 times

• Cakepie, IDO 20M FDV, 2.4 times

This time it enters the larger LRT market, not only I took out 3M FDV, and the airdrops and IDO shares given to TVL providers were several times the PNP of the year. I wonder whether the benefits will be replicated or even surpassed.

Summary:

1. Airdrops require grouping for warmth to obtain greater growth. Grouping link: https://eigenlayer.magpiexyz.io/?ref=0x307225Bc52ef0fEDAa67b626996c0E74cEA924Ee

2. The featured mechanism is ILRT to isolate the risk of each LST

3. The advantage is that it can make full use of the Pendle/Pancake resources accumulated by Magpie to accelerate development

4. Most of the rights and interests are clear The license is given to TVL provider, Fairlaunch with transparent IDO quota