Magpie

We are excited to introduce Magpie, a BNB Chain native yield-boosting platform! Why so much excitement? Well, Magpie will launch soon to provide boosted APR % for BNB Chain users.What is Wombat Exchange?To fully understand how Magpie works, first you must understand <a href="https://www.wombat.exchange/" rel="noopener noreferrer nofollow">Wombat Exchange</a>.Incubated by Binance Labs, Wombat Exchange is a scalable, low slippage and single-sided staking stableswap. As the name implies, stableswaps are unique blockchain platforms that allow users to swap between different stablecoins and pegged assets with a much lower slippage than normal DEXs. Wombat allows liquidity providers to deposit their assets in single-sided pools without the risk of impermanent loss to earn passive income.WOM is the governance token of Wombat Exchange. WOM holders can lock their tokens on Wombat as veWOM to get:<ul><li>Governance rights</li><li>Boosted yields benefits as liquidity providers</li></ul>How Magpie Works.Magpie is a BNB Chain native yield boosting platform that symbiotically works with Wombat Exchange. Magpie offers users the opportunity to earn boosted yields on their deposits without the need to lock any WOM.WOM token holders will have the opportunity to convert their tokens into mWOM (Magpie WOM) to earn high APR. Magpie will allow WOM converters to earn increased staking rewards in exchange for their voting power. When users convert WOM into mWOM on Magpie the platform will automatically lock all the converted WOM as veWOM on Wombat Exchnge to get boosted yield and governance benefits while WOM converters will get mWOM to earn boosted passive income. Magpie liquidity providers will get boosted APR % without the need to lock WOM by themselves thanks to Magpie’s veWOM holdings.Magpie maximizes the WOM token utility by locking WOM on Wombat Exchange for 4 years to get the highest yields and governance benefits.<ol><li>Liquidity providers can earn boosted yields without the need to lock any WOM thanks to Magpie veWOM holdings.</li><li>Users that convert their WOM tokens into mWOM will share a high percentage of the platform’s revenue.</li></ol>This mechanism brings better capital efficiency and a more diverse user base for Wombat Exchange, because users that deposit their assets on Magpie are providing liquidity to Wombat indirectly.MGP TokenMGP is Magpie’s governance and revenue sharing token.How it works?Users will be able to lock their MGP as Vote-Locked MGP to earn passive income on Magpie and control voting power on Wombat Exhange at the same time.Vote-Locked MGP &#61; vlMGPHow vlMGP can vote on Wombat?Magpie seeks to accumulate a high amount of veWOM through mWOM conversions. These veWOM holdings will allow Magpie to benefit from Wombat by getting higher rewards and voting power. The boosted yields benefits will be shared with Magpie depositors while the vlMGP holders will control the governance rights. Vote-Locked MGP holders will control cost-effectively the accumulated governance power that Magpie owns while earning passive income at the same time.Overview of the Magpie EcosystemMagpie offers different options for users to earn high yields.<ul><li>mWOM Staking</li><li>Stablecoins pools</li><li>Vote-Locked MGP</li></ul>Magpie for Stablecoin DepositorsMagpie allows stablecoins depositors to earn boosted yield from Wombat Exchange, without having to stake WOM and accrue veWOM.<ul><li>Deposit your stablecoins</li><li>Receive boosted yields, thanks to Magpie’s accumulated veWOM balance</li><li>Receive rewards in WOM and MGP</li></ul>Magpie for WOM holdersMagpie turns your WOM into productive assets by allowing you to convert them to mWOM, which can then be staked to earn a share of the platform’s revenue.<ul><li>Convert your WOM into mWOM</li><li>Stake mWOM to earn passive income.</li><li>Earn WOM and MGP rewards.</li></ul>Why Should You Choose Magpie?Magpie will be bringing this unique yield-aggregation strategy to the BNB Chain. Here are some of the key reasons you should choose Magpie.<ol><li>Flexible Boosted Yields: Magpie provides stablecoin depositors on Wombat the opportunity to earn boosted rewards without having to lock WOM themselves. By accumulating and locking WOM, overtime, Magpie will hold a large veWOM balance. This will then become highly effective to get boosted yields.</li><li>Diversified Earnings: Magpie enables WOM holders to earn high APR % by converting their tokens into mWOM and staking them to earn WOM and MGP rewards.</li><li>Cost-Effective Voting Power: Users will be able to acquire voting power on Wombat Exchange cost-effectively through MGP. vlMGP holders will have the opportunity to participate and vote on Wombat’s governance. Magpie veWOM voting rights are shared between vlMGP holders.</li></ol>Stay tuned for more updates moving forward. We’ve got so many activities in the works behind the scenes and we can’t wait to share them with you.In the meantime you can join the Magpie community through the social links below.<a href="https://www.magpiexyz.io/" rel="noopener noreferrer nofollow">Website</a> / <a href="https://twitter.com/magpiexyz_io" rel="noopener noreferrer nofollow">Twitter</a> / <a href="https://discord.com/invite/magpiexyz" rel="noopener noreferrer nofollow">Discord</a> / <a href="https://t.me/magpiexyz_io" rel="noopener noreferrer nofollow">Telegram</a> / <a href="https://docs.magpiexyz.io/" rel="noopener noreferrer nofollow">Gitbook</a> / <a href="https://link3.to/magpiexyz" rel="noopener noreferrer nofollow">Link3</a> / <a href="https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-Magpie-v1.0.pdf" rel="noopener noreferrer nofollow">Peckshield Audit</a> / <a href="https://github.com/zokyo-security/audit-reports/blob/main/Magpie_Zokyo%20audit%20report.pdf" rel="noopener noreferrer nofollow">Zokyo Audit</a>

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