Magpie

The WOM UP Party is a program designed to incentivize users that support the core mechanism of Magp After a successful approval of the <a href="https://snapshot.org/#/magpiexyz.eth/proposal/0x5513a798b32f4b6839abaedbcf816fcbcc35f6440f3407e4c0c5e87f0df1c5cc" rel="noopener noreferrer nofollow">Magpie Improvement Proposal #9</a>, we are excited to announce that <a href="https://www.magpiexyz.io/stake" rel="noopener noreferrer nofollow">the WOM UP Party is officially live</a>! 500,000 vlMGP accumulated from penalty have been assigned to reward WOM conversions into mWOM across Arbitrum and BNB Chain. 250,000 vlMGP for Arbitrum users and 250,000 vlMGP for BNB Chain users. Magpie has also allocated an additional 250,000 vlMGP for each network, resulting in a total of 1 million vlMGP in rewards for participants of the WOM UP Party. The event is set to last for 30 days.<a href="https://www.magpiexyz.io/stake" rel="noopener noreferrer nofollow">The WOM UP Party</a> offers users the opportunity to earn vlMGP rewards while converting their WOM tokens into mWOM using Magpie’s Smart WOM Converter. If the price of WOM is below 0.95 in relation to the price of WOM, users will receive mWOM based on the Smart Converter Ratio. Users must convert their WOM through the mWOM Stability Vault in order to participate in the event. The WOM UP Party allows Magpie to accumulate veWOM while it incentivizes users that contribute to the platform and supports the price of mWOM. Participants will receive their mWOM balance in the mWOM Stability Vault, potentially acquiring more than 1 mWOM per each WOM converted.RDP IDO AllocationParticipants of the WOM UP Party are qualified to participate in the RDP token IDO from <a href="https://blog.radpiexyz.io/radpie-next-generation-yield-optimizer-for-radiant-capital-10621144f444" rel="noopener noreferrer nofollow">Radpie</a>. Radpie is a next-generation SubDAO, designed by Magpie XYZ, to support the long-term development of Radiant Capital. The IDO allocation for each user will be proportional to the amount of WOM tokens they convert through the WOM UP Party. New mWOM converters will share 3% of the total RDP IDO.The WOM UP Party Reward StructureTo participate in the WOM UP Party, WOM holders must convert their assets using the <a href="https://docs.magpiexyz.io/mwom-token/mwom-stability-vault" rel="noopener noreferrer nofollow">mWOM Stability Vault</a>. The number of vlMGP awarded to each user is directly linked to both the quantity of WOM tokens they have converted and the specific reward bracket they are placed in. This reward bracket is determined by the count of mWOM locked in the mWOM Stability Vault. Users can move up to higher brackets by increasing the amount of mWOM they lock in the Stability Vault through various transactions.Brackets of Rewards for WOM Converters<img src="https://miro.medium.com/v2/resize:fit:1246/1*O6IRpY-hLiyapYTsZJYwHw.png" />Example:<h2 id="header-0">1. User A converts 1,000 WOM</h2><ul><li>User A benefits from the first tier of rewards. User A will receive 0.1 vlMGP per each of his 1,000 WOM converted plus &#43;1 mWOM on the mWOM SV per WOM converted thanks to the Smart WOM Converter.</li><li>User A will receive: 100 vlMGP</li></ul><h2 id="header-1">2. User B converts 25,000 WOM</h2><ul><li>User B’s conversions benefit from four tiers. For the first 1,000 WOM, User B will receive 0.1 vlMGP per WOM, for the next 4,000 WOM, User B will receive 0.105 vlMGP per WOM, for the next 15,000 WOM, User B will receive 0.115 vlMGP per WOM and for the remaining 5,000 WOM User B will receive 0.13 vlMGP per WOM.</li><li>User B will receive: 2,895 vlMGP plus &#43;1 mWOM on the mWOM SV per each WOM converted thanks to the Smart WOM Converter.</li></ul>Note: Users can accumulate mWOM in mWOM Stability Vault through various transactions to unlock higher reward brackets.Receiving mWOM Tokens<a href="https://www.magpiexyz.io/stake" rel="noopener noreferrer nofollow">Participants of the WOM UP Party will receive their mWOM balance immediately in the mWOM Stability Vault</a> upon converting WOM tokens. As WOM will be converted using the Smart WOM Converter, if the price of mWOM is lower than 95% at the moment of converting, users will get &#43;1 mWOM in return. Users will receive mWOM in the same network they selected to convert their WOM tokens. Users can start the unlocking processClaiming vlMGP rewardsParticipants of the WOM UP Party will receive 100% of their vlMGP rewards in their <a href="https://www.magpiexyz.io/stake" rel="noopener noreferrer nofollow">locked MGP balance</a> immediately. Users will get vlMGP in the same network they selected to convert their WOM tokens.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 WOM UP Party has Returned with RDP IDO Allocation!

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Magpie XYZ

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