Magpie

The first month of the second half of the year has concluded and we are excited to share updates from the Magpie Eco.During the month of July, our team was hard at work developing Magpie, as we aim to deliver the most optimized experience for DeFi users across different networks. vlMGP holders have been especially engaged, with multiple governance proposals being put forth to suggest improvements and fine-tune Magpie for future advancements.Firstly, the MIP #9 went live, proposing the use of vlMGP accrued from penalties to finance the WOM UP Party. This proposal was successfully approved by our community of voters. Next, MIP #10 was launched, centered around advocating for the listing of the mPENDLE and PENDLE pool on Wombat’s voting gauge, which was also passed with the support of vlMGP holders. The MIP #11 went live subsequently, proposing the utilization of Magpie’s vlPNP revenue to purchase mPENDLE from the secondary market, before distributing it as rewards to vlMGP holders, and it was accepted by the voters. Following this, MIP #12 was presented, proposing to cut down the overall MGP emissions across both Arbitrum and BNB Chain. The purpose of this proposal was to maximize the value of MGP in the future, and it was also supported by vlMGP holders. Also, the WOM UP Party returned, enabling WOM holders to earn rewards by converting their assets into mWOM, while supporting the accumulation of veWOM by Magpie. As we venture into August, let’s reflect on some of our notable achievements from the past month.<h2 id="header-0">Platform</h2><ul><li><a href="https://twitter.com/magpiexyz_io/status/1675162966268735491" rel="noopener noreferrer nofollow">mPENDLE / PENDLE pool deployed</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1675172628011597824" rel="noopener noreferrer nofollow">MIP #9 Approved</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1679166705497522177" rel="noopener noreferrer nofollow">MIP #10 Approved</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1680842687161704449" rel="noopener noreferrer nofollow">MIP #11 Approved</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1681623547456700416" rel="noopener noreferrer nofollow">Updated new Homepage</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1681885022683295746" rel="noopener noreferrer nofollow">mPENDLE /PENDLE pools deployed on Magpie bribery market</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1682098588170477570" rel="noopener noreferrer nofollow">SnBNB Pool deployed</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1685422534387286016" rel="noopener noreferrer nofollow">fUSDC Pool deployed</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1683326395034861569" rel="noopener noreferrer nofollow">MIP #12 Approved</a></li><li><a href="https://blog.magpiexyz.io/the-wom-up-party-has-returned-with-rdp-ido-allocation-636fa5a24882" rel="noopener noreferrer nofollow">The WOM UP Party has returned</a></li><li><a href="https://twitter.com/Radpiexyz_io/status/1684415592286109697" rel="noopener noreferrer nofollow">RDP IDO access for WOM UP participants</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1686045557121224704" rel="noopener noreferrer nofollow">MIP #13 went live</a></li><li>&#43;2.7 million veWOM accumulated</li></ul><h2 id="header-1">Social</h2><ul><li><a href="https://twitter.com/RDNTCapital/status/1682042707487887361" rel="noopener noreferrer nofollow">AMA with Radiant Capital</a></li><li><a href="https://twitter.com/magpiexyz_io/status/1684635116969046016" rel="noopener noreferrer nofollow">Campaign with Helio Protocol</a></li></ul>Magpie SubDAOsThanks to our SubDAO Model, we have been consistently broadening the scope of the Magpie ecosystem through the incorporation of <a href="https://twitter.com/Penpiexyz_io" rel="noopener noreferrer nofollow">Penpie</a> and <a href="https://twitter.com/Radpiexyz_io" rel="noopener noreferrer nofollow">Radpie</a>.<ul><li>Penpie: We successfully followed the deployment of Pendle Finance on BNB Chain, thereby providing a broader range of options for network users through Penpie. In an innovative move, we launched <a href="https://blog.penpiexyz.io/introducing-the-penpie-bribery-market-46712056c7bd" rel="noopener noreferrer nofollow">the Penpie bribery market</a>, enabling vlPNP holders to monetize their voting power and earn incentives for their participation in the voting process of Pendle Finance. Also, we completed our integration with <a href="https://blog.penpiexyz.io/omnichain-penpie-completes-successful-integration-with-layerzero-9c38a9045ed8" rel="noopener noreferrer nofollow">LayerZero</a>, this significant development offers our users increased flexibility, as they can now effortlessly move their assets across three different networks. Additionally, we deployed the <a href="https://blog.penpiexyz.io/the-smart-pendle-converter-is-out-b3f50b39e5ec" rel="noopener noreferrer nofollow">Smart PENDLE Converter</a> and several pools for the liquidity providers of Pendle Finance, allowing them to enhance the efficiency of their holdings via Penpie while accumulating &#43;45 million in TVL. Check more details <a href="https://blog.penpiexyz.io/penpies-july-wrap-up-d92c338e4e06" rel="noopener noreferrer nofollow">here</a>.</li><li>Radpie: We deployed the <a href="https://blog.radpiexyz.io/enter-the-dlp-rush-a403eb10bfc4" rel="noopener noreferrer nofollow">dLP RUSH</a> program, aimed at accumulating dLP tokens from Radiant Capital to support its long-term development while offering enhanced benefits for users. Through Arbitrum and BNB Chain, we’ve managed to accumulate approximately $1.7 million worth of dLP. This accumulation will enable Radpie to optimize user benefits once it is launched on the mainnet. The <a href="https://blog.radpiexyz.io/radpie-rdp-tokenomics-52202381295f" rel="noopener noreferrer nofollow">tokenomics of RDP</a> were also shared. Stay tuned for more updates!</li></ul>We extend our deepest gratitude to our community, partners, and supporters from around the globe; none of this would be possible without you. As we remain steadfast in our mission to provide the best user experience and maximum benefits, we recognize the significance of your contributions. We’ve embarked on a unique and adventurous journey aimed at enhancing the DeFi space overall. Although we’ve seen early successes, we understand that this is just the beginning. Many goals and much hard work still lie ahead, and we are eager to continue embracing new challenges and opportunities.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>

Magpie’s July Wrap Up!

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Magpie XYZ

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