Eigenpie rETHPrice

(MRETH)

Eigenpie is a Web3 project designed as a restaking SubDAO built on EigenLayer, developed by MagpieDAO. Its core function is to offer holders of Liquid Staking Tokens (LSTs) the opportunity to restake their assets and potentially increase their earning potential. The specific token mentioned, mrETH, is an Isolated Liquid Restaked version of rETH, which is Rocket Pool's Liquid Staking Token, created by Eigenpie. This means that mrETH can only be minted by restaking rETH through the Eigenpie platform. A key feature of Eigenpie is its "isolated liquid restaking" approach, which aims to separate the risks associated with any particular LST. If a security issue were to affect a specific LST, only holders of its isolated liquid restaked version would be directly impacted. Eigenpie works by allowing users to deposit their Ethereum (ETH) or various LSTs. These deposited assets are then restaked using the EigenLayer protocol. In exchange for their restaked assets, users receive Liquid Restaked Tokens (LRTs) like mrETH. These LRTs are designed to maintain liquidity, enabling them to be traded, transferred, or utilized within the broader decentralized finance (DeFi) ecosystem. Through this process, Eigenpie aims to enhance returns for Ethereum stakers and LST holders by allowing them to participate in securing new blockchain services while keeping their assets liquid. Users can potentially earn passive income from both Ethereum staking and revenue generated through EigenLayer. The project's native utility token is EGP, which facilitates governance and reward distribution within the Eigenpie platform. Eigenpie was founded around 2022 or 2023, with its EGP token becoming available for trading in September 2024. Learn more

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