Overview
Proposal to enable mstETH/wstETH (0.25% fee tier) ALM gauge from DefiEdge on Arbitrum
Background
mstETH
mstETH is a liquid restaked version of Lido’s stETH token, developed by Eigenpie. Users have the option to liquid restake their stETH as mstETH through Eigenpie, enabling them to access the benefits of restaking and further enhance their passive income potential. mstETH is fungible, and moving forward, users would be able to trade mstETH for wstETH and vice versa via PancakeSwap on Arbitrum.
With the goal of building robust liquidity for the mstETH-wstETH pair on Arbitrum, Eigenpie commits to incentivizing the pair through the Cakepie Voting Market. Eigenpie plans to distribute incentives to voters who support the pool each epoch, aiming to maintain a competitive APR for mstETH-wstETH liquidity providers on Arbitrum and encouraging long-term participation. As part of the Magpie Ecosystem, Eigenpie looks forward to leveraging the services provided by PancakeSwap and Cakepie, promoting sustainable growth for all parties involved.
Details
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Boost Multiplier and Emission Cap %: 1.00x boost multiplier and 5% emission cap
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Audits:
- Blocksec:
- PeckShield:
- AstraSec:
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Token Utility: mstETH (Magpie stETH) is minted when users restake stETH through Eigenpie. mstETH can be utilized in DeFi, allowing users to continue earning the underlying yield from stETH, as well as restaking rewards from Eigenpie.
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Volatility: Not depegged
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Oracles: No
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Control: The private keys to the contract are controlled by the following 3/6 multisig (0xf433c2A2D6FACeCDd9Edd7B8cE9cEaaB96F41866), where transactions require validation from 3 out of 6 signers.
Which address holds the private keys to the Position Manager vault contract? If it’s a multisig, please indicate: X of Y signers needed for transactions
2/4 Multisig
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Merit: By whitelisting the mstETH-wstETH ALM from DefiEdge on Arbitrum, PancakeSwap can potentially attract more TVL and generate trading fees while voters within the ecosystem can earn incentives.
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Vault Strategy (for Position Managers only): What strategy does the vault use? Broadly, how does it work? Please share documentation if possible
DefiEdge has its own ALO strategy, which is a highly efficient automated rebalancing strategy. These strategies feature automated rebalancing and are based on multiple parameters, such as price, ratio, and volatility. The strategy aims to maintain a 50-50 asset ratio and we have created multiple ranges that also enable the buying and selling of assets.
Links
Token address: mstETH
Liquidity pool address: 0xb9F9C2c31C3d00DD0EB987c818b4078F786d6F6E
Website:
Socials:
X:
Telegram: @eigenpiexyz_official
Documentation:
Github: Not public
Any other relevant links: