Abstract

This proposal seeks decision from vlMGP holders on whether Magpie should support Eigenpie’s EIP #2, which introduces a monthly adjustment mechanism to maintain a consistent 50% APR for vlEGP holders. Any rewards exceeding this APR cap will be redirected into a dedicated EGP buyback fund, aimed at reducing circulating supply and reinforcing long-term token value.

Motivation

EIP #2 responds to community feedback advocating for more sustainable emissions and stronger alignment with long-term value capture for EGP. By introducing a monthly APR cap and automating the redirection of excess rewards, the proposal aims to:

• Provide predictable and consistent incentives, targeting a 50% APR for vlEGP holders
• Reduce circulating EGP supply via buybacks
• Support long-term EGP value by reducing sell pressure -Improve reward efficiency and alignment across the ecosystem

Surplus rewards (distributed in EIGEN, ZRC, or USDT) will be evaluated monthly. Any amount that exceeds the 50% APR ceiling will be diverted into a buyback fund. EGP purchased through this mechanism will be transferred to the Eigenpie Treasury and made available for future governance-directed initiatives.

More details: EIP #2

Specification

Vote on whether Magpie should support Eigenpie’s EIP #2, which proposes a capped 50% APR for vlEGP rewards and redirection of surplus incentives to an automated EGP buyback program.

Options:

• For – Endorse EIP #2 and support Eigenpie’s implementation of monthly APR adjustments and EGP buybacks.
• Against – Do not support the proposed reward distribution cap and buyback mechanism.