Magpie

As Magpie has officially launched on Arbitrum, it is time to reward the community for their support of our platform. Users who wish to participate in Magpie by converting WOM tokens &amp; locking mWOM will be rewarded for their support.<h2 id="header-0">The Arbitrum WOM UP Party</h2>The Arbitrum WOMP UP Party is a feature that incentivizes the conversion of WOM tokens into mWOM on Magpie. Users have the option to convert their WOM tokens through the Arbitrum WOM UP Party to receive 1 mWOM plus $ARB rewards for each conversion.<img src="https://miro.medium.com/v2/resize:fit:1400/0*ERTvFRhaO3-T8zBB" />Type the amount of WOM you want to convertWhile WOM converters receive mWOM tokens that can be staked &amp; locked on Magpie to generate passive income, Magpie automatically locks all the converted WOM tokens as veWOM on Wombat Exchange to get increased emission of WOM &amp; governance power. Magpie is dedicated to accumulating veWOM to access its benefits and reduce the circulating supply of WOM.<h2 id="header-1">The Arbitrum WOM UP Party Reward System</h2>Users have 2 options to participate in the Arbitrum WOM UP Party event. WOM holders can select to:Option 1: Convert (No Lock-up)<ul><li>Convert WOM tokens into mWOM: Users can convert WOM tokens into mWOM at 1:1 ratio through the WOM UP Party to get 1 mWOM &#43; 0.015 ARB for each WOM token converted.</li></ul>Example 1:User A decides to convert 150,000 WOM tokens into mWOM through the Arbitrum WOM UP Party. He will get 1 mWOM &#43; 0.015 ARB for each converted WOM token.150,000 * 0.015 &#61; 2,250 ARB tokens as rewardsUser A gets: 2,250 $ARBOption 2: mWOM Stability Vault (Lock mWOM)<ul><li>Convert WOM &amp; Lock mWOM: Users can choose to convert their WOM tokens into mWOM and lock them in the “mWOM Stability Vault” to unlock higher levels of $ARB rewards.</li></ul>Example 2:User B decides to convert &amp; lock 150,000 WOM tokens as mWOM using the “mWOM Stability Vault”. He will get 1 mWOM &#43; different amount of $ARB rewards for the locked mWOM tokens based on the brackets of rewards.<ul><li>From the &#43;0–1,000 locked mWOM the user will earn 0.015 ARB * 1,000 &#61; 15 ARB</li><li>From the &#43;1,000–5,000 locked mWOM the user will earn 0.018 ARB * 4,000 &#61; 72 ARB</li><li>From the &#43;5,000–20,000 locked mWOM the user will earn 0.021 ARB * 15,000 &#61; 315 ARB</li><li>From the &#43;20,000–100,000 locked mWOM the user will earn 0.025 ARB * 80,000 &#61; 2,000 ARB</li><li>From the &#43;100,000–150,000 locked mWOM the user will earn 0.03 ARB * 50,000 &#61; 1,500 ARB</li></ul>15 &#43; 72 &#43; 315 &#43; 2,000 &#43; 1,500 &#61; 3,902 $ARBUser B gets: 3,902 ARB with the same mWOM amount just by locking &amp; converting at the same time. In this case, he got 70% more ARB rewards than User A with the same amount of 150,000 WOM.<h2 id="header-2">mWOM Stability Vault</h2>When it comes to the mWOM Stability Vault, it’s important to understand that the amount of mWOM you lock will accumulate over time. This means that if you’ve already locked 3000 mWOM, and then later on you convert without locking any additional mWOM, you will still be able to receive a conversion rate of 0.018 ARB / WOM. In other words, the more mWOM you lock, the better your conversion rate will be, but any mWOM you’ve already locked will continue to count towards your cumulative total even if you don’t lock any more in the future. This can be a helpful strategy for maximizing your rewards and getting the most out of the conversion process.If you have mWOM tokens in the Stability Vault and they are in the cooldown period, those tokens will not count towards determining your bracket. When you start the cooldown, your bracket will be lowered, and you will no longer be able to receive the high conversion reward rate, unless you cancel the unlock.<h2 id="header-3">Brackets of rewards per WOM Conversion:</h2><img src="https://miro.medium.com/v2/resize:fit:1400/1*A9stKF4WclA6bZLjPfUsWw.png" />Brackets of rewardsThe greater the number of WOM tokens that users convert &amp; lock as mWOM through the Arbitrum WOM UP Party, the more ARB rewards they will receive. Upon surpassing a bracket, users will obtain a corresponding reward amount in the subsequent bracket based on their locked mWOM tokens. Users can increase their mWOM lock up amount through various transactions in order to reach a higher bracket.<h2 id="header-4">Lock upon Conversion</h2><img src="https://miro.medium.com/v2/resize:fit:1400/0*n9CQejFqnlPQ0LnL" />Lock upon convert to get more ARB rewardsWhen users select the Lock upon Conversion option, their converted mWOM is simultaneously locked in the mWOM Stability Vault. This allows users to advance to the next reward bracket. If a user’s conversion amount surpasses a bracket, they’ll obtain the corresponding reward amount in the subsequent bracket for the exceeding portion, as explained in User B’s example above. Note that once a user deposits their mWOM into the Stability Vault, it enters a locked state. Users can initiate the unlocking process at any time, but there is a 30-day cooldown period to consider. During this period, mWOM unlocking is not possible. However, users can have up to 3 cooldown slots active simultaneously. Starting the cooldown will decrease the user’s bracket, but it is possible to avoid this by canceling the cooldown and keeping a higher bracket.<h2 id="header-5">Loyalty Bonus</h2><img src="https://miro.medium.com/v2/resize:fit:1400/0*CTHrVAaGSRcXtNeT" />Select the Loyalty Bonus to get vlMGP and earn 30% more rewardsThe Loyalty Bonus allows the WOM UP Party participants to earn even more rewards. By selecting the Loyalty Bonus, users will receive an additional 30% reward bonus. If this option is chosen, the ARB rewards will be used to repurchase MGP on the market and lock it. As a result, users who opt for this bonus will receive vlMGP. This option increases the total rewards &#43;30% for each user. It’s an excellent opportunity to accumulate vlMGP and reap attractive bribe rewards.<h2 id="header-6">Rewards Distribution</h2>Upon converting their WOM tokens via the WOM UP Party, users will instantly receive ARB rewards in their wallet.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.<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 Arbitrum WOM UP Party is here

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