Magpie

Exciting news for the Magpie community and $MGP holders! We are thrilled to announce that Magpie will be launching on Arbitrum!Magpie will officially launch on Arbitrum on April 7thThis represents a major milestone for Magpie, and we are thrilled to be able to offer our users the benefits of Arbitrum’s high throughput and low gas fees. We believe this move will enhance the overall user experience and potentially attract more users to our platform.What is Arbitrum?<a href="https://developer.arbitrum.io/intro" rel="noopener noreferrer nofollow">Arbitrum is a technology suite</a> specifically developed to enhance the scalability of Ethereum. With Arbitrum chains, users can perform all the tasks that they can do on Ethereum, including using Web3 apps, deploying smart contracts, and more, but with the added benefits of much faster and cheaper transactions.<img src="https://miro.medium.com/v2/resize:fit:1400/0*bJAlXdpGQ-SOoZ92" />At present, there exist two Arbitrum chains on the Ethereum mainnet. The first one is known as <a href="https://portal.arbitrum.io/one" rel="noopener noreferrer nofollow">Arbitrum One</a> and is an Arbitrum Rollup chain, while the second one is called <a href="https://nova.arbitrum.io/" rel="noopener noreferrer nofollow">Nova</a> and is an AnyTrust chain. It is noteworthy that Magpie will be deployed on the Arbitrum One chain. Among all the networks in the cryptocurrency market, Arbitrum One has the second-highest daily transaction volume.Boosting Yields and Maximizing Governance Power on Arbitrum.Magpie is a yield-boosting platform designed to maximize governance power on protocols that implement <a href="https://blog.magpiexyz.io/cost-effective-governance-power-on-wombat-exchange-c7b200f4021e" rel="noopener noreferrer nofollow">veTokenomics</a>. Magpie has been incubated by <a href="https://www.wombat.exchange/" rel="noopener noreferrer nofollow">Wombat Exchange</a>.Wombat Exchange is a hyper-efficient stableswap <a href="https://medium.com/wombat-exchange/binance-labs-invests-in-wombat-exchange-d8095b9fe9e8" rel="noopener noreferrer nofollow">backed by Binance Labs</a>. Wombat uses the veToken model for its governance token WOM, and Magpie has been supporting its development by locking WOM tokens as veWOM. veWOM allows its holders to earn increased yields and governance power on the platform.By reducing slippage and improving capital efficiency, Wombat provides traders with a more profitable and efficient way to trade stablecoins across multiple chains. In addition, Wombat allows users to earn passive income as liquidity providers through single-sided pools. With its superior exchange rates and seamless trading experience, Wombat has quickly become a popular choice for investors looking to swap their stable assets more efficiently.With our Arbitrum launch, we are looking forward to adding more value and opportunities for our users and decentralized finance overall by establishing deep collaboration with Arbitrum and new partners. By accumulating veTokens from different protocols, Magpie can potentially support the broad DeFi ecosystem that is growing on Arbitrum, enabling different platforms to increase their performance at the same time.Magpie Ecosystem Tokens<ul><li>MGP</li></ul><img src="https://miro.medium.com/v2/resize:fit:1400/0*3CO4W94o5qSWUXZr" />MGP is the governance and revenue-sharing token of Magpie. Users can lock MGP as Vote-locked MGP (vlMGP) to earn real yield and governance rights. With vlMGP, Wombat voters can acquire voting power cost-effectively.<ul><li>mWOM</li></ul><img src="https://miro.medium.com/v2/resize:fit:1400/0*qCU81V_YlwgC9IVY" />WOM is the governance token of Wombat Exchange. mWOM (Magpie WOM) is Magpie’s version of WOM. Users can convert WOM into mWOM on Magpie to earn increased yields with their holdings.The WOM UP Party<img src="https://miro.medium.com/v2/resize:fit:1400/0*HlRExcoogtxt7ubV" />The Weekly WOM UP Party is an opportunity for users to convert their WOM tokens into mWOM tokens while receiving a guaranteed reward of 2 vlMGP for every WOM token converted. The conversion process is effortless and straightforward, and once completed, users can immediately see their locked MGP tokens reflected in their vlMGP balance. In this event, for every converted WOM token, users will get 1 mWOM and an additional vlMGP as rewards.What can users expect from Magpie and Wombat?Wombat Exchange<ul><li>Hyper-efficient swaps</li></ul>Wombat Exchange is designed to offer users the opportunity to swap their stablecoins and pegged-assets with minimal impact on its price, regardless of the amount.<ul><li>Single-Sided Pools</li></ul>Wombat Exchange implements Coverage Ratio as their mechanism for managing liquidity pools, which enables them to provide single-sided pools for liquidity providers. Their innovative pool design enables them to achieve and maintain equilibrium with exceptional efficiency.<ul><li>The Voting gauge</li></ul>The Voting Gauge on Wombat Exchange enables veWOM holders to have a say in the distribution of WOM emissions across the liquidity pools on Wombat. With their governance power, veWOM holders can cast their votes and allocate WOM rewards to liquidity providers.<img src="https://miro.medium.com/v2/resize:fit:1400/0*k5uWrP6XGgz93pI1" />Magpie XYZ<ul><li>Locking veWOM</li></ul>By locking WOM tokens and accumulating veWOM, Magpie can provide Wombat Exchange users with the opportunity to maximize their benefits.<img src="https://miro.medium.com/v2/resize:fit:1400/0*damSvNkcnZNlFbJ1" /><ul><li>Boosted rewards for liquidity providers</li></ul>Thanks to Magpie’s accumulated veWOM, liquidity providers are able to earn increased rewards without the need to lock any WOM by themselves. Magpie leverages Wombat’s single-sided pools design to offer a simple way for users to provide liquidity and earn more.<img src="https://miro.medium.com/v2/resize:fit:1400/0*AwWs1077FObqMQF3" /><ul><li>Real Yield</li></ul>Cost-effective governance rights on Wombat Exchange to earn a high amount of bribes by monetizing the voting power of vlMGP through the Magpie bribery Market. Wombat voters can easily acquire more voting power and more rewards through Vote-Locked MGP (vlMGP) than through veWOM.<img src="https://miro.medium.com/v2/resize:fit:1400/0*rzsudagpVvfkCTwF" /><ul><li>Security-focused:</li></ul>At Magpie, we take the safety and security of our users’ assets very seriously. We have implemented a security program with multiple layers of protection to ensure that our platform is secure and stable. This program includes rigorous code audits conducted by <a href="https://peckshield.com/" rel="noopener noreferrer nofollow">Peckshield</a> and <a href="https://www.zokyo.io/" rel="noopener noreferrer nofollow">ZOKYO</a>, a partnership with <a href="https://www.insurace.io/" rel="noopener noreferrer nofollow">InsurAce</a> to provide added asset coverage, and a bug bounty program in partnership with <a href="https://immunefi.com/" rel="noopener noreferrer nofollow">Immunefi</a> to detect and address any potential security risks.<ul><li><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></li><li>ZOKYO Audit</li><li><a href="https://app.insurace.io/coverage/cart?id&#61;195&amp;referrer&#61;954978220581524396896388524479256980665398219084" rel="noopener noreferrer nofollow">InsurAce Coverage</a></li><li><a href="https://immunefi.com/bounty/magpiexyz/" rel="noopener noreferrer nofollow">Immunefi Bug bounty Program</a></li></ul>“When Launch”?Magpie will officially launch on Arbitrum on April 7th. This launch is part of our ongoing commitment to supporting Wombat Exchange’s own launch and giving the opportunity for more users around the world to benefit from our services. When Magpie is launched, it will be fully deployed with all of its current features, including MGP and mWOM. This will provide investors with even more opportunities and value through Magpie’s yield-boosting platform, which will support the growing DeFi ecosystem on Arbitrum.We are excited about contributing to the development and growth of Arbitrum and its ecosystem. We look forward to continuing to make new collaborations and alliances to further evolve and bring the most complete Magpie. As we prepare to achieve this significant accomplishment, we want to thank Wombat Exchange, all of our partners, and our community for their presence and constant support during our development. Additionally, we would like to express our gratitude to the Arbitrum team for their unwavering support and collaboration throughout this period as we are thrilled to continue building and growing together. The Magpies are ready for Mission Arbitrum!About Magpie XYZ: Magpie is a Multi-chain platform providing Yield &amp; veTokenomics boosting services. 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>

Magpie is Ready for Lift-Off: Mission Arbitrum

Magpie XYZ

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