Overview
Proposal to enable mstETH/wstETH V3 gauge on Ethereum
Background
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 Ethereum.
With the goal of building robust liquidity for the mstETH-wstETH pair on Ethereum, Eigenpie commits to incentivizing the pair through the Cakepie bribery market in the future. Eigenpie plans to distribute $EGP incentives to voters who support the pool each epoch, aiming to maintain a competitive APR for mstETH-wstETH liquidity providers 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
Boost Multiplier and Emission Cap %: 1.00x boost multiplier and 5% emission cap
Audits:
- Blocksec:
- PeckShield:
- AstraSec:
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.
Volatility: Not depegged
Oracles: Eigenpie uses an Oracle to track how much underlying ETH each mstETH contains.
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.
Merit: New DAO onboarded (TVL, bribes for voters via Cakepie, trading fees, volume)
Links
Token address: mstETH (mstETH) Token Tracker | Etherscan
Liquidity pool address: 0x350d6d813be7b64681f91f16a98ef360bd42b66b
Website: Magpie XYZ
Socials:
Documentation: Not live
Github: Not public
Any other relevant links: https://blog.eigenpiexyz.io/