Author: Eigenpie, Source: Twitter @Eigenpiexyz_io, Medium; Translator: Tao Zhu, Golden Finance

$EGP is the governance token of @Eigenpiexyz_io. Eigenpie was developed by @magpiexyz_io to promote the sustainability of the EigenLayer Liquid re-staking ecosystem.

$EGP is an ERC-20 token with a total supply of 10 million, which can be locked as vlEGP (vote lock EGP) within Eigenpie. After being locked as vlEGP, the token will not be transferable.

Token Information

Name: Eigenpie Token

Code: EGP

Total Supply: 10 million

Token Type: ERC-20

EGP Token

• EGP — EGP is the governance token of Eigenpie, a SubDAO established by Magpie to ensure EigenLayer Liquid Long-term sustainability and success of the re-staking landscape.

• vlEGP — EGP can be locked in Eigenpie at a 1:1 ratio as Voting Locked EGP (vlEGP). Holding vlEGP allows users to earn participation rewards and participate in Eigenpie's governance decisions.

EGP Allocation:

▫️ 34% - Magpie Launchpad IDO (Private Offering Round)

▫️ 2% - Magpie Launchpad IDO (Public Offering Round)

▫️ 1% - Third-Party Launchpad

▫️ 2.77% - CEX Listing

▫️ 15% - Magpie Treasury

▫️ 15% - Community Incentives

▫️ 11% - Airdrop

▫️ 5% - Liquidity

▫️ 5.34% - Strategic Investors

▫️ 8.89% - Ecosystem

vlEGP

When EGP is locked as vlEGP on Eigenpie, the token will be in an indefinite lockup state. To unlock vlEGP, users must select the "Start Unlocking" option, which will trigger a 60-day waiting period. During this period, vlEGP holders will continue to receive rewards from Eigenpie, but will lose voting rights. After the 60-day cooldown period, users can redeem their vlEGP back to EGP.

vlEGP can be used to:

• Participate in Eigenpie's governance.

• Get rewards for users' active participation on the platform.

vlEGP holders will be eligible to receive rewards for their active participation on the platform and can participate in Eigenpie's governance.

When $EGP is locked as vlEGP on Eigenpie, it enters an indefinite lockup period by default.

To unlock, users must activate the "Start Unlocking" function, which will initiate a 60-day waiting period. During this period, rewards will continue to accrue, but voting rights will be temporarily suspended.

If a user chooses to "force unlock" their #vlEGP before the end of the 60-day cooldown period, a penalty will be charged.

The distribution of $EGP tokens has been carefully designed to prioritize fairness and transparency, which reinforces our commitment to promoting the continued growth and long-term viability of @Eigenpiexyz_io.

Priority Access Allocation Details

The EGP token sale for Eigenpie Priority Access will be held on the Magpie Launchpad. Users can join any of the listed groups to gain priority access and secure their EGP IDO allocation.

Fund Allocation Details

The Magpie Treasury will receive 15% of the total EGP tokens, which will be distributed according to a two-year vesting schedule. This distribution is part of our strategic plan and underscores our commitment to valuing vlMGP holders. We appreciate the trust and support of the community and are committed to advancing vlMGP. Funds from this funding allocation will be distributed to vlMGP holders as a token of our gratitude. Our ongoing goal is to increase value for vlMGP holders and we look forward to a future of success and collaboration.

The token distribution and vesting plan has been carefully designed to support a strong and sustainable ecosystem and promote the continued development and growth of the platform.