Magpie

The <a href="https://www.magpiexyz.io/bribe" rel="noopener noreferrer nofollow">Magpie Bribery Market</a> is an innovative platform that allows users to use their Vote-Locked MGP tokens to support various pools and exercise their governance voting rights on Wombat Exchange. By holding vlMGP tokens, users can vote to decide which pools on Wombat should receive a boost in WOM emissions. Protocols using Wombat liquidity pools may offer incentives or bribes to voters in order to gain their support. Through the <a href="https://www.magpiexyz.io/bribe" rel="noopener noreferrer nofollow">Magpie Bribery Market</a>, vlMGP holders have the power to control the voting of Magpie as a veWOM holder on Wombat exchange.WOMwars on BNB Chain — Quick recapEssentially the WOM Wars is the competition of different protocols that want to hold and lock WOM Tokens in order to own governance benefits and get a bigger reward share on Wombat Exchange.<ol><li>We know that WOM tokens can be locked as veWOM on Wombat Exchange.</li><li>We know that veWOM entitles its holders to governance voting power and boosted rewards as liquidity providers on Wombat Exchange.</li><li>We know that Magpie locks a lot of WOM as veWOM on Wombat Exchange to get boosted WOM rewards as liquidity provider and voting power rights.</li><li>We know that Vote-Locked MGP controls a share of Wombat’s governance thanks to Magpie’s accumulated veWOM. This allows vlMGP holders to vote and benefit from bribes.</li></ol>Introducing: The Voting Gauge on Wombat ExchangeOn Wombat Exchange, the voting gauge feature allows holders of veWOM tokens to exercise governance control over the emission of WOM tokens for specific pools, such as the Side Pool’s HAY token or the Innovation Pool’s FRAX token. The allocation of WOM emissions to a particular pool is directly proportional to the number of votes received by that pool. As a result, pools with higher vote counts will have a higher APR, making them more attractive to liquidity providers.As of 18th January 6AM UTC, holders of veWOM tokens are able to participate in gauge voting to determine 25% of the WOM emission. Users can allocate their votes (1 veWOM equals 1 vote) to one or more gauges, which correspond to LP tokens of a pool, through the dapp. The WOM emission for a gauge is proportional to the number of votes received by that gauge.The remaining 75% of emissions are distributed according to base allocation weights as displayed on Wombat. This allocation is designed to attract liquidity to the Main Pool and pools that are less likely to receive bribes.DeFi BribesWhat are bribes in DeFi?Protocols with token liquidity on Wombat’s pools may offer incentives to veWOM holders in exchange for their vote in favor of increasing WOM emissions for their liquidity pools. The purpose of this is to attract more users and liquidity to the platform by increasing their WOM rewards. Each Wombat pool has a gauge for liquidity, where veWOM holders can vote to influence which pool should receive a boost in WOM emissions. The protocols may use these incentives as a means of gaining support from veWOM holders and increasing WOM rewards for their liquidity providers.Magpie has acquired a significant amount of veWOM, which it has obtained through conversions of mWOM, thus granting the platform governance benefits on Wombat Exchange. Vote-Locked MGP holders are able to partake in this governance power through the Magpie Bribery Market by controlling the veWOM owned by Magpie. Through Magpie they can participate in the voting process on Wombat to support any pool of their choosing.The Magpie Bribery Market:The <a href="https://www.magpiexyz.io/bribe" rel="noopener noreferrer nofollow">Magpie Bribery Market</a> allows vlMGP holders to exercise their voting power and influence the distribution of WOM emissions among pools on Wombat. vlMGP holders can select which pools they want to allocate their votes to and Magpie will use its veWOM vote proportionally on Wombat according to their choices.<img src="https://miro.medium.com/max/1400/1*8quZRySdrqUo06AX9HAAmg.png" />This <a href="https://www.magpiexyz.io/bribe" rel="noopener noreferrer nofollow">mechanism allows vlMGP holders to take advantage of bribes </a>offered by protocols on Wombat and it can be beneficial for all parties involved. Wombat partners can use bribes to increase token liquidity more efficiently, liquidity providers can receive increased WOM rewards, and vlMGP holders can have a new consistent real yield income source in exchange for their governance power.<img src="https://miro.medium.com/max/1400/1*igMC6muQR6lOQqlHmJgZjQ.png" />About Magpie XYZ: Magpie XYZ is a platform built on BNB Chain 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.<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>

The Magpie Bribery Market is Live

Magpie XYZ

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