As we approach the end of the year and the festive holiday season, Magpie continues to soar to new height
November has concluded, and for the Magpie Ecosystem it was nothing short of spectacular. As part of our ongoing commitment to optimizing the user experience and opportunities within DeFi, <a href="https://blog.cakepiexyz.io/cakepie-cooking-pancakes-on-pancakeswap-93b48f539c25" rel="noopener noreferrer nofollow">we officially announced our integration with PancakeSwap through Cakepie</a>. As our latest SubDAO, Cakepie, created by Magpie, is set to provide yield and veTokenomics boosting services for PancakeSwap’s new veCAKE design, sweetening the PancakeSwap Ecosystem.
At the core of Cakepie’s strategy is the accumulation and locking of CAKE tokens as veCAKE within PancakeSwap. This initiative not only leverages the benefits of veCAKE but also plays a fundamental role in reducing the circulating supply of CAKE. In addition, we introduced mCAKE, an innovative adaptation of the CAKE token, enabling users to stake and partake in Cakepie’s revenue without any lockup period. In alignment with these advancements, we rolled out the <a href="https://blog.cakepiexyz.io/the-cake-rush-is-live-7d34b3395708" rel="noopener noreferrer nofollow">CAKE RUSH</a> event, incentivizing users to convert their CAKE to mCAKE through Cakepie. This feature has been a resounding success, resulting in the accumulation and locking of over 3 million CAKE tokens as veCAKE by Cakepie, cementing its position as a dominant veCAKE holder in the DeFi sphere.
The past month saw the Magpie Ecosystem surpass $120 million in TVL. This growth has elevated the platform to be ranked within the top 80 crypto protocols globally in terms of TVL and top 10 within Arbitrum, as reported by <a href="https://defillama.com/protocol/magpie-ecosystem" rel="noopener noreferrer nofollow">DeFiLlama</a>, highlighting its expanding role and impact. Currently, in the Magpie ecosystem, Penpie’s TVL contribution exceeds $95 million, while both Radpie and Magpie contribute over $13 million each, collectively totaling almost $130 million.
The MIP #19 was approved, as we encourage our community’s active involvement in shaping the future development of Magpie. Additionally, the 3rd vlMGP Monthly Rewards were distributed to vlMGP holders, with payments made in PNP tokens as stated in <a href="https://snapshot.org/#/magpiexyz.eth/proposal/0xe1bd22e77048caa2f69fcc03ac8fc2ca8f306c2fb85ed9d59831d8aa90902ffb" rel="noopener noreferrer nofollow">MIP #18</a>. Also, the STIP <a href="https://www.tally.xyz/gov/arbitrum/proposal/13413460212244439965325761903593975061091934953503684497413508380387288651335?chart=0" rel="noopener noreferrer nofollow">Backfund proposal</a> went live and has garnered considerable support from Arbitrum delegates. It will grant 1.25M ARB to the Magpie Ecosystem upon approval.
Now, let’s dive into some of the key accomplishments of November:
Platform
<ul>
 <li><a href="https://twitter.com/magpiexyz_io/status/1720579162220413386" rel="noopener noreferrer nofollow">3rd vlMGP Monthly Rewards distributed</a></li>
 <li><a href="https://twitter.com/magpiexyz_io/status/1721149206222491792" rel="noopener noreferrer nofollow">MIP #19 approved</a></li>
 <li><a href="https://twitter.com/magpiexyz_io/status/1720395604528902453" rel="noopener noreferrer nofollow">Cakepie Unveiled</a></li>
 <li><a href="https://twitter.com/magpiexyz_io/status/1723119652086194529" rel="noopener noreferrer nofollow">Magpie Ecosystem surpassed $100M in TVL</a></li>
 <li><a href="https://twitter.com/magpiexyz_io/status/1727664967145370088" rel="noopener noreferrer nofollow">Magpie Ecosystem becomes TOP 10 largest platform on Arbitrum by TVL</a></li>
</ul>
Socials
<ul>
 <li><a href="https://twitter.com/magpiexyz_io/status/1722276659200716887" rel="noopener noreferrer nofollow">Magpie Themed AI Art Competition</a></li>
</ul>
SubDAOsPenpie
<ul>
 <li><a href="https://twitter.com/Penpiexyz_io/status/1726753816966500694?s=20" rel="noopener noreferrer nofollow">6th and 7th PENDLE RUSH Sold Out</a></li>
 <li><a href="https://twitter.com/Penpiexyz_io/status/1723124684785389910?s=20" rel="noopener noreferrer nofollow">Surpassed +$90M in TVL</a></li>
 <li><a href="https://twitter.com/Penpiexyz_io/status/1729375520075170238?s=20" rel="noopener noreferrer nofollow">Accumulated +11M vePENDLE</a></li>
 <li><a href="https://blog.penpiexyz.io/penpies-november-wrap-up-70efb715d5c6" rel="noopener noreferrer nofollow">Penpie’s November Wrap Up</a></li>
</ul>
Radpie
<ul>
 <li><a href="https://twitter.com/Penpiexyz_io/status/1726553039786631242?s=20" rel="noopener noreferrer nofollow">Launched 2nd dLP Rush</a></li>
 <li><a href="https://docs.radpiexyz.io/esrdnt-fixed-yield" rel="noopener noreferrer nofollow">esRDNT Fixed Yield Pool</a></li>
 <li><a href="https://blog.radpiexyz.io/radpies-november-wrap-up-29af1e24ceee" rel="noopener noreferrer nofollow">Radpie’s November Wrap Up</a></li>
</ul>
Campie
<ul>
 <li><a href="https://twitter.com/Campiexyz_io/status/1726721406824518143" rel="noopener noreferrer nofollow">CMP Tokenomics</a></li>
</ul>
Cakepie
<ul>
 <li><a href="https://twitter.com/Cakepiexyz_io/status/1722608729479385281" rel="noopener noreferrer nofollow">CAKE RUSH deployed</a></li>
 <li><a href="https://twitter.com/Cakepiexyz_io/status/1729521707902263669" rel="noopener noreferrer nofollow">Surpassed $3M CAKE accumulated</a></li>
 <li><a href="https://twitter.com/Cakepiexyz_io/status/1728770517815935361" rel="noopener noreferrer nofollow">Launched locked CAKE to mCAKE conversion feature</a></li>
 <li>Launch Partners: <a href="https://twitter.com/Cakepiexyz_io/status/1728239688824057939" rel="noopener noreferrer nofollow">Galxe</a>, <a href="https://twitter.com/Cakepiexyz_io/status/1728602090275041351" rel="noopener noreferrer nofollow">Helio Protocol</a>, <a href="https://twitter.com/Cakepiexyz_io/status/1728964417545441490" rel="noopener noreferrer nofollow">Ankr</a>, <a href="https://twitter.com/Cakepiexyz_io/status/1729326756937572422" rel="noopener noreferrer nofollow">Wombat</a>, <a href="https://twitter.com/Cakepiexyz_io/status/1729689195222798668" rel="noopener noreferrer nofollow">Magpie</a> and <a href="https://twitter.com/Cakepiexyz_io/status/1730057831791956323" rel="noopener noreferrer nofollow">APX Finance</a></li>
</ul>
November has been a month of notable achievements and exciting beginnings for the Magpie Ecosystem. From reaching new heights in TVL to integrating with PancakeSwap via Cakepie, we have continued to evolve and strengthen our position in the DeFi world. As we step into December, we remain committed to delivering excellence and fostering a community that thrives together. We extend our heartfelt thanks to our incredible users, whose unwavering support and engagement are the driving forces behind every milestone we achieve and every boundary we push.
About Magpie: Magpie 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 November Wrap Up

Magpie XYZ

Other articles published on Dec 3, 2023

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