Abstract
This proposal seeks approval from vlMGP holders to authorize Magpie DAO to deploy USDT from its treasury into stablecoin pools on Listapie Lend Earn, with the aim of improving treasury capital efficiency and generating additional yield.
The distributable net earnings generated from these investments will be allocated as follows: 10% to Magpie team operations and development, 20% to the PRT Recovery Mechanism, and 70% to open-market MGP buybacks followed by permanent token burns.
Motivation
The USDT assets held in the Magpie DAO Treasury have the potential to generate additional yield. By allocating a portion of these funds to stablecoin pools on Listapie Lend Earn, Magpie DAO can improve treasury capital efficiency while supporting the growth of products within the Magpie ecosystem.
In accordance with the revenue allocation mechanism established under PIP-15, 20% of the earnings will be allocated to the PRT Recovery Mechanism.
Furthermore, allocating the majority of earnings to MGP buybacks and permanent burns will help establish a revenue-driven token buyback mechanism and strengthen the long-term tokenomics of MGP.
Specification
This proposal seeks approval from vlMGP holders for the following:
1. Treasury Asset Deployment
Authorize the Magpie team to deploy USDT from the Magpie DAO Treasury into stablecoin pools on Listapie Lend Earn to generate additional investment yield.
Listapie Lend Earn: Listapie Lend
2. Treasury Asset Ownership and Management
The invested principal and associated assets shall remain the property of the Magpie DAO Treasury. The Magpie team may deposit or withdraw funds in accordance with the provisions of this proposal.
3. Distribution of Net Earnings
The distributable net earnings generated from these investments shall be allocated as follows:
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10% — Magpie Team: To support ongoing operations and development.
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20% — PRT Recovery Mechanism: In accordance with the revenue allocation arrangements established under PIP-15.
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70% — MGP Buyback and Burn: To purchase MGP on the open market, with all repurchased tokens permanently burned.
Upon approval, the Magpie team will be authorized to execute treasury asset deployment and distribute the resulting earnings in accordance with the provisions outlined above.