Magpie

As was outlined in the Magpie SubDAO Model <a href="https://blog.magpiexyz.io/magpie-the-subdao-model-d9ead54a2147" rel="noopener noreferrer nofollow">blog post</a>, Magpie holds the right to control 20% of Penpie’s total PNP token supply over a 2-year weekly linear-vesting period. This translates to more than 19,000 PNP tokens flowing into the Magpie Treasury each week. In turn, Magpie locks 100% of the received PNP as vlPNP within Penpie. This process commenced on June 22th, 2023, and thus far, ~250,000 PNP tokens have been accumulated and locked as vlPNP by our platform.<h3 id="strong-what-is-magpie-s-strategy-with-the-received-pnp-strong">What is Magpie’s Strategy with the Received PNP?</h3>After the successful locking of all claimed PNP as vlPNP on <a href="https://www.pendle.magpiexyz.io/stake" rel="noopener noreferrer nofollow">Penpie</a>, Magpie utilizes the vlPNP to vote in the Penpie bribery market, directing PENDLE emissions to various pools across <a href="https://www.pendle.finance/" rel="noopener noreferrer nofollow">Pendle Finance</a>. Employing this method, the Magpie Treasury consistently obtains bribes in return for its allocated voting power, thus generating a constant revenue stream. All earnings derived from Magpie’s vlPNP are employed to purchase mPENDLE from the secondary market and then are distributed among vlMGP holders through Arbitrum. Furthermore, vlPNP also garners a portion of the revenue earned by Penpie in mPENDLE tokens, which are likewise shared with vlMGP holders by Magpie in the form of mPENDLE.<h3 id="strong-governance-accessibility-strong">Governance Accessibility</h3>By possessing vlPNP, the Magpie Treasury acquires the ability to actively participate in the governance of both Penpie and Pendle Finance. The voting rights amassed by Magpie via its accumulated vlPNP are wholly controlled by vlMGP holders, granting them the power to shape the future of different protocols in a cost-effective way.<h3 id="strong-monthly-rewards-strong">Monthly Rewards</h3><img src="https://miro.medium.com/v2/resize:fit:1400/1*91cdLUmqoiO_Sdr07_PGPQ.png" />vlMGP holders will be provided with their share of Magpie’s vlPNP revenue on a monthly basis. This fresh revenue avenue is designated as “vlMGP Monthly Rewards.” Those holding locked MGP will start receiving this income stream in September 2023, with recurring distributions at the beginning of each subsequent month. As more SubDAOs are established within the Magpie XYZ ecosystem in the future, the income derived from the tokens of each new protocol allocated to the Magpie Treasury will augment the vlMGP Monthly Rewards.Fostering a Symbiotic EcosystemMagpie maintains an unwavering commitment to locking 100% of the PNP it receives weekly. This dedication not only offers tangible benefits to vlMGP holders but also enhances the long-term growth prospects of Penpie. Upcoming SubDAOs will be incorporated using a similar mechanism, with Magpie poised to lock the tokens received from all SubDAOs to access their utility, thus strengthening the sustainability and core functionalities of the Magpie XYZ ecosystem.The introduction of monthly dividends for vlMGP holders represents a transformative step in creating passive income waves within the Magpie XYZ Ecosystem. Through effective control of PNP, Magpie’s strategy will start to facilitate a constant revenue stream, leveraging the benefits of vlPNP and voting via the Penpie bribery market.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/pVNt553HQs" 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>

Monthly Rewards for vlMGP Holders

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Magpie XYZ

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