Eigenpie: Opportunities and Challenges for New Stars in the LRT Track

Eigenpie, as an innovative project focused on the liquid staking token (LST), has recently launched a points activity that brings new opportunities to the LRT( Liquid Restaking Token) space. This project not only offers substantial rewards for TVL providers but also features a unique mechanism design.

Multiple Earning Opportunities

Participating in Eigenpie can yield multiple benefits:

1. Eigenpie Token Airdrop: Corresponds to 10% of the total supply.
2. Eigenlayer Points: Available after the Eigenlayer deposit opens on February 5.
3. Eigenpie IDO allocation: Corresponds to a total of 24%, with an initial valuation relatively low.
4. Original LST basic earnings: For example, the 7% APR of mETH is still available.

It is worth noting that the rewards will increase based on the scale of participation, with large-scale participation potentially yielding up to double the increase.

Unique ILRT Mechanism

Eigenpie introduces an isolated LRT(ILRT) mechanism, issuing corresponding tokens for each LST to isolate risks. This design aims to address the overall risk issues faced by traditional LRT projects, ensuring that potential problems with a single LST do not affect the entire system.

Although this kind of isolation may affect liquidity, the project team believes it could actually bring advantages. Independent trading pairs may be more beneficial for collaborating with LST project teams, incentivizing liquidity.

Market Positioning and Prospects

Eigenpie fills an important market gap: it provides an opportunity for LSTs that have joined Eigenlayer to participate in the LRT narrative. This solution allows each LST to have an independent LRT, avoiding the issue of shared risk.

The project team is expected to promote the listing of the Eigenpie token on decentralized exchanges, which could bring additional benefits to the entire ecosystem.

Token Economics and Revenue Expectations

The token distribution plan for Eigenpie is as follows:

• IDO: 40%
• Airdrop: 10%
• Incentive: 35%
• Project Reserve: 15%

This distribution method is similar to a fair launch model, where most of the rights are clearly allocated to TVL providers. Specifically, TVL providers can receive:

• Airdrop of 10% of the total supply
• 60% of the IDO share (IDO accounts for 40% of the total)

Overall, approximately 34% of the tokens will be allocated to TVL providers, accounting for about 70% of the initial circulation.

Considering the heated nature of the LRT sector, the potential returns of Eigenpie could be quite considerable. If we reference the valuations of other LRT projects in the market, early participants may achieve significant returns.

Conclusion

Eigenpie has brought new vitality to the LRT track, and its unique ILRT mechanism and generous token distribution plan have attracted market attention. However, investors should carefully assess project risks and closely monitor market dynamics. As the project develops, whether Eigenpie can stand out in the fiercely competitive LRT market remains to be seen over time.