Termination of MGP Token Emission to Liquidity Pools
Abstract
Magpie aims to sustain and amplify the growth trajectory of the MGP token within its expanding ecosystem, which includes a variety of SubDAOs and an array of services enhancing the token’s utility and value. Central to our governance and revenue-sharing model, MGP can be locked as vlMGP, offering holders not just voting rights but also a share in platform revenue and monthly rewards. In line with our commitment to fostering a resilient and sustainable growth path for the MGP token, we propose to cease all MGP token emissions to liquidity pools. This strategic move is designed to reduce the overall emission rate of MGP tokens, thus contributing to their scarcity and potential value increase over time.
Motivation
MGP plays a central role in the Magpie ecosystem, offering holders voting power, monthly rewards, and a share in the platform’s revenue through vlMGP. As the ecosystem expands with new SubDAOs and services, the intrinsic value and utility of MGP increase. This proposal seeks to safeguard this steady progress and ensure sustainable growth by reducing the overall emission of MGP tokens. By cancelling the MGP emission to liquidity pools, we aim to solidify MGP’s market standing, supporting its price stability. This approach aligns with our vision to enhance the token’s attractiveness and its fundamental role within our ecosystem, ensuring long-term sustainability and value appreciation.
Specification
Terminate MGP token emissions to liquidity pools, effectively reducing the overall emission rate and contributing to the scarcity of the MGP token.