# \[MIP #35\] - Supporting Penpie’s Allocation of 50% vePENDLE Voter Rewards for mPENDLE/PENDLE Liquidity

**URL:** <https://gov.magpiexyz.io/t/mip-35-supporting-penpie-s-allocation-of-50-vependle-voter-rewards-for-mpendle-pendle-liquidity/266>\
**Category:** 4. Magpie Improvement Proposals\
**Created:** [June 6, 2024, 6:10pm UTC](https://gov.magpiexyz.io/t/mip-35-supporting-penpie-s-allocation-of-50-vependle-voter-rewards-for-mpendle-pendle-liquidity/266 "2024-06-06T18:10:06Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Desmen](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.magpiexyz.io/desmen/32/84_2.png) [@Desmen](https://gov.magpiexyz.io/u/Desmen)\
**Post date:** [June 6, 2024, 6:10pm UTC](https://gov.magpiexyz.io/t/mip-35-supporting-penpie-s-allocation-of-50-vependle-voter-rewards-for-mpendle-pendle-liquidity/266/1 "2024-06-06T18:10:06Z")

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## Abstract

This proposal seeks to gather votes from vlMGP holders on whether Magpie should support Penpie’s PIP #12. The Penpie Improvement Proposal #12 aims to allocate 50% of vePENDLE voter rewards towards buying back PENDLE and supplying it as liquidity for the mPENDLE/PENDLE pair, instead of burning mPENDLE. The feedback from vlMGP holders will guide Magpie’s stance on this matter, ensuring that our actions align with the interests of our stakeholders.

## Motivation

It is essential to consult vlMGP holders on key decisions impacting our SubDAOs. Supporting PIP #12 could potentially strengthen the peg between mPENDLE and PENDLE, enhance liquidity, and provide long-term stability and growth within the Penpie ecosystem. This proposal aligns with Magpie’s commitment to act in the best interest of our community. By allocating 50% of vePENDLE voter rewards towards buying back PENDLE and supplying it as liquidity for the mPENDLE/PENDLE pair, the goal is to support the strategic objectives of both Magpie and Penpie, fostering stability and growth within our ecosystem.

## Specification

Vote on whether Magpie should support the allocation of 50% of vePENDLE voter rewards towards buying back PENDLE and supplying it as liquidity for the mPENDLE/PENDLE pair.

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<div class="post-metadata">

**Author:** ![Desmen](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.magpiexyz.io/desmen/32/84_2.png) [@Desmen](https://gov.magpiexyz.io/u/Desmen)\
**Post date:** [June 10, 2024, 4:08pm UTC](https://gov.magpiexyz.io/t/mip-35-supporting-penpie-s-allocation-of-50-vependle-voter-rewards-for-mpendle-pendle-liquidity/266/2 "2024-06-10T16:08:08Z")

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