PNP token IDO information
We are thrilled to announce the upcoming IDO of Penpie. The IDO comes with a unique advantage for our early supporters — The Penpie Priority Access Program.
Under the Penpie Priority Access Program, participants have the opportunity to secure 100% of the IDO quota. This program is a testament to our commitment to rewarding our dedicated community members who have been with us from the early stages.
$3M FDV and $600K Cap
Our Penpie IDO comes with a Fully Diluted Valuation (FDV) of $3M and a cap of $600K (20% of the total supply), allowing early supporters to acquire PNP at a highly competitive price. This is an exceptional opportunity for our Priority Access members to invest early and maximize their potential return.
Built for the Community, by the Community
Penpie is all about the community. We’ve ensured a fair launch, with no Venture Capitalists involved. The entire project is built with the community’s interest at heart. Remarkably, 0% of the allocation is for the team. Our team benefits solely from their MGP holdings as detailed in our PNP Tokenomics article, further emphasizing our dedication to a community-centric project.
Priority Access Categories (Updated)
Listed below are the various user categories that have been granted priority access to the PNP token sale.
- xGRAIL: 35% — As governance stakeholders of Camelot Exchange, xGRAIL holders will have the chance to participate in the PNP token IDO, sharing a 35% quota. This will enable users of Camelot Exchange to gain governance authority over Pendle Finance through PNP.
- mPENDLE: 30% — As key contributors to Penpie, mPENDLE holders have played a vital role in providing Penpie’s vePENDLE, allowing the platform to offer optimized benefits within the DeFi space. In recognition of their direct impact, mPENDLE holders and stakers will be eligible to share 30% of the total PNP tokens for sale.
- vlMGP: 25% — As valued governance stakeholders in Magpie, vlMGP holders are granted the opportunity to participate in the PNP token sale. They will be eligible to share 25% of the total PNP tokens for sale, reflecting their integral role in the decision-making process for the platform.
- Liquidity Providers: 10% — Liquidity providers are an important aspect of the success of Penpie, as the platform’s PENDLE emissions are directly correlated to the TVL within protocol. To acknowledge their importance, Penpie liquidity providers will be granted access to share 10% of the total PNP tokens for sale.
IDO Fund Usage
The funds raised from the IDO will be allocated as follows:
- 40% for Initial PNP/ETH Liquidity: A substantial portion of the funds will be used to ensure a stable and robust liquidity pool for PNP.
- 30% for Development & Operation: A significant allocation will be used for ongoing development and operational costs, enabling us to continually improve Penpie, optimize its features, and maintain smooth, uninterrupted operations.
- 20% for Marketing & Business Development: To ensure the continuous growth of Penpie, a portion of the funds will be set aside for marketing and business development. This will help increase awareness of our project, attract new users, and develop strategic partnerships.
- 10% for Auditing: The security of Penpie and the protection of our users’ investments are paramount. Therefore, a dedicated portion of the funds will be allocated to auditing to ensure the platform remains secure, reliable, and trustworthy.
We are incredibly grateful for the support and contributions from our community members and are thrilled to offer this Priority Access as a show of our appreciation. We look forward to the continued growth and development of Penpie.
About Penpie: Penpie is a next-generation DeFi product created by Magpie to provide Pendle Finance users with yield and veTokenomics boosting services. Integrated with Pendle Finance, Penpie focuses on locking PENDLE tokens to obtain governance rights and enhanced yield benefits within Pendle Finance. Penpie revolutionizes the way users can maximize returns on their investments and monetize their governance power.
About Magpie XYZ: Magpie XYZ is a multi-chain platform built to boost yields for liquidity providers and governance token holders of veTokenomics protocols. Essentially the platform incentivizes governance token holders and liquidity providers to pool their assets together so that the platform can acquire governance tokens, convert them into veTokens, boost yield for liquidity providers, and in return share part of the protocol revenues derived from liquidity providers’ boosted profits back to governance token holders.