Alisa Davidson
Printed: September 02, 2024 at 4:06 am Up to date: September 02, 2024 at 4:06 am
Edited and fact-checked:
September 02, 2024 at 4:06 am
In Transient
Eigenpie launched Eigenpie Precedence Entry, enabling customers to affix and safe their allocation within the EGP token sale.
SubDAO group, which supplies liquidity restaking providers and is designed by the multi-chain yield protocol Magpie, Eigenpie (EGP) launched Eigenpie Precedence Entry, enabling customers to affix and safe their allocation within the EGP token sale.
As per the announcement, the initiative will provide 3.4 million EGP at a totally diluted valuation (FDV) of $3 million by the Magpie Launchpad. It will present early supporters with an opportunity to buy EGP at an inexpensive value.
Among the many classes for Eigenpie Precedence Entry are the Eigenpie Season 1 Factors Holders, who had been granted 70.59% of the Precedence Entry quota, amounting to 2.4 million EGP. This allocation contains factors generated by way of EIGEN staking earlier than August fifteenth, that are additionally thought-about as Season 1 factors.
Moreover, vlMGP holders have the choice to entry 20.59% of the quota, equal to 700,000 EGP. Customers burning MGP or vlMGP can entry 8.82% of the quota, amounting to 300,000 EGP. Every group will obtain a share of the EGP accessible on the market in keeping with the extent of contribution.
For vlMGP holders, MGP, and vlMGP burners, a snapshot can be carried out over the course of three days previous to the preliminary DEX providing (IDO). The minimal requirement for collaborating within the marketing campaign is 1 EGP.
Eigenpie To Allocate 50% Of IDO Proceeds To EGP Liquidity
The belongings raised from the IDO can be distributed, allotting 50% to preliminary EGP liquidity and centralized change (CEX) market making, 30% will go for growth and operations, 10% can be reserved for advertising and marketing and enterprise growth, and 10% can be allotted for auditing.
Eigenpie permits for the restaking of Ethereum liquid staking tokens (LSTs) by way of the EigenLayer. EGP represents the governance and reward token inside its ecosystem. In response to its tokenomics, the whole EGP provide is capped at 10 million tokens, with 40% to be distributed to the IDO, 35% to group rewards, 15% to the Magpie Treasury, and 10% to early supporter airdrops.
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About The Writer
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising traits and applied sciences, she delivers complete protection to tell and have interaction readers within the ever-evolving panorama of digital finance.
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Alisa Davidson
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising traits and applied sciences, she delivers complete protection to tell and have interaction readers within the ever-evolving panorama of digital finance.
Extra articles
