Magpie

As the DeFi landscape continues to evolve and expand, Magpie has emerged as a prominent player with its innovative approach to building and growing the ecosystem. In this article, we take a closer look at Magpie’s remarkable progress during the month of April, from our collaboration with Wombat Exchange and launching on Arbitrum, to boosting liquidity pools and rewarding the community with the WOM UP Party.The month of April saw a significant achievement for Magpie. We collaborated with Wombat Exchange and the subsequent launch of both platforms on Arbitrum, a Layer 2 scaling solution for Ethereum. This strategic partnership not only enhanced the functionality of Magpie and Wombat Exchange but also contributed to the growth of the entire DeFi ecosystem. By leveraging Arbitrum, users can now perform tasks they typically do on Ethereum, but with faster and more cost-effective transactions. Consequently, Magpie’s expansion to Arbitrum has opened up new opportunities and strengthened its standing as a vital participant in the DeFi space. Let’s take a look at some of our accomplishments from April.Platform<ul><li><a href="https://twitter.com/magpiexyz_io/status/1642652256800522243?s&#61;20" rel="noopener noreferrer nofollow">1.20 veWOM accumulated</a> through the WOMboarding event</li><li><a href="https://twitter.com/magpiexyz_io/status/1642986293591265283?s&#61;20" rel="noopener noreferrer nofollow">Wormhole partnership announcement</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1643372878681759746?s&#61;20" rel="noopener noreferrer nofollow">MGP Syrup Pool live on PancakeSwap v3 (Stake CAKE earn MGP)</a></li><li>Launched bribes for mWOM/WOM Pools on Arbitrum</li><li><a href="https://twitter.com/magpiexyz_io/status/1643791051671363584?s&#61;20" rel="noopener noreferrer nofollow">Trader Joe Partnership</a> &amp; MGP listed on Trader Joe for Arbitrum users</li><li><a href="https://twitter.com/magpiexyz_io/status/1643912615691710467?s&#61;20" rel="noopener noreferrer nofollow">Magpie went live on Arbitrum</a></li><li>mWOM airdrop for WOMboarding participants</li><li><a href="https://twitter.com/magpiexyz_io/status/1644623025571262464?s&#61;20" rel="noopener noreferrer nofollow">&#43;10 million TVL</a></li><li><a href="https://defillama.com/protocol/magpie" rel="noopener noreferrer nofollow">Arbitrum stats &#43; pools tracked on DefiLlama yield board</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1645305807775363073?s&#61;20" rel="noopener noreferrer nofollow">The Arbitrum WOM UP Party went live</a></li><li><a href="https://docs.magpiexyz.io/arbitrum/magpie/mwom-stability-vault" rel="noopener noreferrer nofollow">Deployed the mWOM Stability Vault</a></li><li><a href="https://blog.magpiexyz.io/magpie-boosted-liquidity-pools-on-arbitrum-ace7e6788429" rel="noopener noreferrer nofollow">Boosted liquidity pools went live on Arbitrum</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1646903806691606529?s&#61;20" rel="noopener noreferrer nofollow">MetaCRM partnership announcement</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1646969848000401442?s&#61;20" rel="noopener noreferrer nofollow">New bribe pools deployed (ankrBNB, MIM, Overnight.fi)</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1647866832454316032?s&#61;20" rel="noopener noreferrer nofollow">The WOM UP Party went live</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1648302953864765446?s&#61;20" rel="noopener noreferrer nofollow">Overnight.fi partnership announcement</a></li><li><a href="https://twitter.com/PancakeSwap/status/1649307006191415296?s&#61;20" rel="noopener noreferrer nofollow">PancakeSwap v3 liquidity migration (MGP-BNB)</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1649517870844346369?s&#61;20" rel="noopener noreferrer nofollow">Magpie is available through the OKX Web3 platform</a></li><li><a href="https://snapshot.org/#/magpiexyz.eth/proposal/0x1ecf154e040466f2b98963231da0af1d2e56b9cc4a02dfff63654275cc52708a" rel="noopener noreferrer nofollow">MIP #6 went live &amp; Approved</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1650491023255117825?s&#61;20" rel="noopener noreferrer nofollow">ankrBNB Booste Pool deployed on Magpie</a></li><li><a href="https://snapshot.org/#/magpiexyz.eth/proposal/0x26b63210036574368dec112bf3be14b059ac29ebe54133b0b2a4f9c25ce4abad" rel="noopener noreferrer nofollow">MIP #7 went live &amp; Approved</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1652040199864459309?s&#61;20" rel="noopener noreferrer nofollow">sfrxETH Boosted Pool deployed on BNB Chain &#43; Arbitrum</a></li><li><a href="https://blog.magpiexyz.io/maximized-bribes-for-wombat-voters-on-arbitrum-eedab6d6d6f3" rel="noopener noreferrer nofollow">More bribes for Wombat Voters</a></li><li><a href="https://blog.magpiexyz.io/the-smart-wom-converter-is-live-on-arbitrum-ed368f2c4ebc" rel="noopener noreferrer nofollow">Launched Smart WOM Converter on Arbitrum</a></li></ul>Social<ul><li><a href="https://galxe.com/magpiexyz/campaign/GCZV8Um4nD" rel="noopener noreferrer nofollow">Magpie is live on Arbitrum campaign</a></li><li><a href="https://twitter.com/wormholecrypto/status/1646134655639343108?s&#61;20" rel="noopener noreferrer nofollow">Wormhole AMA</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1644369988860485636?s&#61;20" rel="noopener noreferrer nofollow">Trader Joe AMA</a></li><li><a href="https://twitter.com/WombatExchange/status/1645730156785418240?s&#61;20" rel="noopener noreferrer nofollow">Arbitrum AMA</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1650591149554368512?s&#61;20" rel="noopener noreferrer nofollow">Arbitrum Insider AMA</a></li><li><a href="https://galxe.com/magpiexyz/campaign/GCvhhUYYKm" rel="noopener noreferrer nofollow">MIP #6 Voting Campaign</a></li><li><a href="https://galxe.com/magpiexyz/campaign/GCC4aUYzus" rel="noopener noreferrer nofollow">MIP#7 Voting Campaign</a></li></ul>WOM events recap:In preparations to the launch on Arbitrum, we initiated the WOMboarding event to provide BNB users with the opportunity to convert WOM and receive mWOM on Arbitrum, along with additional rewards. This event led to Magpie accumulating over 1.2 million veWOM. Later, we launched the WOM UP Party on the Arbitrum network to reward our core supporters, resulting in an additional 3 million veWOM. Participants earned 1mWOM and vlMGP rewards for each WOM conversion and had opportunities to unlock higher rewards. In total, Magpie gathered more than 3.5 million veWOM on Arbitrum through these initiatives.Thanks to the significant veWOM accumulation, Magpie is now able to offer improved benefits to users interested in serving as liquidity providers or participating in Wombat voting. At present, Arbitrum users on Magpie can enjoy higher yields without having to acquire and lock WOM on Wombat. This opportunity is made possible because the platform has already collected a considerable amount of veWOM, allowing users to take advantage of it and increase their earnings. Furthermore, users can achieve greater voting power through vlMGP rather than veWOM, with the same investment amount and a shorter lock-up period of 60 days, compared to 4 years. We have also deployed new pools, bribe pools, mWOMSV, and the Smart Converter, in our commitment to offer the best opportunities for our users and also new proposals have been approved, aimed at optimizing the functionality of Magpie.As we move forward, Magpie remains dedicated to fostering a robust DeFi platform, with continuous improvement and innovation at the core of our vision. We are grateful for the unwavering support of our community and are eager to continue delivering outstanding results in the months ahead. Thank you for being an integral part of Magpie’s journey, and we look forward to sharing many more milestones with you in the future.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>

April Wrap-Up: Magpie’s Expansion to Arbitrum Enhances DeFi Functionality

Magpie XYZ

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