Magpie

In this article we will discuss the various liquidity pools that have been recently deployed on Magpie, a multi-chain platform that offers yield-boosting services on top of Wombat Exchange. These liquidity pools, now available to Arbitrum users, offer opportunities to earn high annual percentage rates (APR). The pools discussed in the article include mWOM, BOB, MIM, USD+, frxETH, and FRAX-MAI-USD+.If you’re interested in participating in these liquidity pools and earning high APRs, head over to <a href="https://www.magpiexyz.io/stake" rel="noopener noreferrer nofollow">Magpie’s website</a> and <a href="https://docs.magpiexyz.io/arbitrum/metamask" rel="noopener noreferrer nofollow">connect your Arbitrum wallet</a>. So, let’s dive right in!Boosted Liquidity Pools now Available on Arbitrum<img src="https://miro.medium.com/v2/resize:fit:1400/0*wYDB-vxSW-Wjpvzp">1. mWOM PoolWOM is the governance token of Wombat Exchange. The token can be locked as veWOM on Wombat to get more rewards as a liquidity provider and to access governance benefits. veWOM holders can participate in the distribution of WOM tokens on Wombat Exchange through the voting gauge.mWOM is the version of WOM that Magpie has designed in order to offer users the chance to earn high APR without the need to lock their assets for a long period of time.Website: <a href="https://app.wombat.exchange/" rel="noopener noreferrer nofollow">WOM</a>2. BOB PoolBOB is a stablecoin that works on various blockchain networks and is backed by different types of collateral. It is available on Polygon, Optimism, Ethereum, Arbitrum and BNB Chain, making it easy for users to deposit and withdraw across these networks. You can acquire BOB from decentralized exchanges like UniSwap and Wombat Exchange, where you can trade your assets for the stablecoin. For privacy, you can transfer BOB confidentially between users using zkBob. zkBob is an app that enables users to transfer the BOB stablecoin using zero-knowledge technology, providing privacy and security for their transactions.Website: <a href="https://www.zkbob.com/" rel="noopener noreferrer nofollow">zkBob</a>3. MIM PoolMagic Internet Money (MIM) is a stablecoin that embraces interoperability using the Abracada.money protocol. On Abracadabra.money, users can collateralize their crypto assets, including interest-bearing tokens (ibTKNs), to mint MIM stablecoins. MIM has been developed to be cross-chain compatible, enabling it to be used in different platforms and products that operate on various blockchain networks such as Arbitrum, Avalanche, Ethereum, Fantom, and BNB Chain.Website: <a href="https://abracadabra.money/" rel="noopener noreferrer nofollow">Abracadabra</a>4. USD+ PoolUSD+ is the primary token of overnight.fi, a rebased stablecoin. The pegging mechanism of USD+ is based on the ‘NAV of 1’ policy (Net Asset Value), where the market value of assets is equivalent to the amount of USD+ in circulation. This is achieved through conservative risk management, which aims to prevent daily losses by creating a diversified portfolio of highly conservative DeFi investments. Profits are distributed daily to USD+ holders in the form of a rebase, with all yield collected by the USD+ reserves being directly distributed to USD+ holders by increasing their wallet balance once a day.Website: <a href="https://overnight.fi/" rel="noopener noreferrer nofollow">Overnight.fi</a>5. frxETH PoolFrax Ether is a novel ETH staking derivative that leverages the power of the Frax Finance ecosystem to optimize staking yields and simplify the Ethereum staking process. Designed for the DeFi space, Frax Ether offers users a secure, streamlined, and intuitive approach to earning interest on their ETH holdings.The Frax Ether ecosystem is composed of three primary elements: the Frax ETH Minter, which serves as the entry point for users to mint frxETH tokens; Frax Ether (frxETH), the liquid staking derivative that is fully backed by ETH and allows users to earn staking rewards; and Staked Frax Ether (sfrxETH), which is a tokenized version of staked frxETH that can be freely traded on DeFi platforms.Website: <a href="https://frax.finance/" rel="noopener noreferrer nofollow">Frax Finance</a>6. FRAX-MAI-USD+ Pool<ul><li>FRAX</li></ul>Frax is a stablecoin protocol that utilizes fractional-algorithmic principles, making it the first of its kind. It operates on an open-source, permissionless, and entirely on-chain platform, with the goal of creating a highly scalable, trustless, extremely stable, and ideologically pure on-chain currency. The Frax protocol features a two-token system consisting of a stablecoin called Frax (FRAX) and a governance token known as Frax Shares (FXS). The Frax minting and redeeming mechanism is crucial in maintaining FRAX’s stable peg to USDC. FRAX stablecoins can be minted by any user who provides collateral tokens (currently USDC) and governance tokens (FXS).Website: <a href="https://frax.finance/" rel="noopener noreferrer nofollow">Frax Finance</a><ul><li>MAI:</li></ul>MAI is a stablecoin that is pegged to the US Dollar with a target deviation of 1%. It is fully collateralized at all times through collateral vaults and backed solely by decentralized tokens. Users can only mint MAI by using overcollateralized debt positions. The stablecoin is decentralized, making it resistant to manipulation by centralized entities.QiDao is an overcollateralized stablecoin protocol that allows users to mint MAI stablecoins against the value of their decentralized token collaterals. This is achieved by taking out loans denominated in MAI.Website: <a href="https://www.mai.finance/" rel="noopener noreferrer nofollow">Mai Finance</a><ul><li>USD+:</li></ul>USD+ is the primary token of overnight.fi, a rebased stablecoin. The pegging mechanism of USD+ is based on the ‘NAV of 1’ policy (Net Asset Value), where the market value of assets is equivalent to the amount of USD+ in circulation. This is achieved through conservative risk management, which aims to prevent daily losses by creating a diversified portfolio of highly conservative DeFi investments. Profits are distributed daily to USD+ holders in the form of a rebase, with all yield collected by the USD+ reserves being directly distributed to USD+ holders by increasing their wallet balance once a day.Website: <a href="https://overnight.fi/" rel="noopener noreferrer nofollow">Overnight.fi</a>Wombat exchange &amp; MagpieWombat Exchange is a multi-chain, highly efficient stableswap that offers users the best possible rates for trading stablecoins and pegged assets. The platform is designed to provide investors with a simple and effective way to swap tokens, with minimal price impact. Magpie, on the other hand, is a multi-chain platform that offers Yield &amp; veTokenomics boosting services developed on top of Wombat Exchange. Magpie leverages Wombat’s veToken model to provide additional benefits for DeFi users who are looking for enhanced yield opportunities. By focusing on veTokenomics, Magpie aims to offer a valuable service to the DeFi community, attracting users who seek to easily optimize their yield generation.Increased benefits for usersWOM is the governance token of Wombat. Magpie is committed to locking WOM tokens as veWOM, which allows the platform to gain governance rights and receive more rewards as a liquidity provider on Wombat. As Magpie accumulates more veWOM, it becomes eligible to get higher benefits. By accumulating veWOM, Magpie can offer increased advantages to its users without requiring them to lock their WOM tokens as veWOM. This is because Magpie has already locked veWOM on behalf of its users, allowing them to benefit from the accrued rewards. The platform’s approach to veWOM accumulation and distribution is aimed at creating a more user-friendly experience for DeFi investors, providing them with greater opportunities to generate yield and earn rewardsAbout 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>

Magpie Boosted Liquidity Pools on Arbitrum

Magpie XYZ

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