Abstract:
This proposal seeks consent from vlMGP holders to allocate a portion of MGP tokens from Magpie’s liquidity mining bucket to support the launch and initial operations of newly established SubDAOs until their Token Generation Event (TGE). The primary objective is to use these funds for incentives, such as liquidity bribes, to ensure that new SubDAOs start with strong liquidity and participation. The success of these SubDAOs is directly linked to the value of vlMGP, as Magpie holds significant stakes in these SubDAOs, meaning their growth and stability contribute to the overall health and value of the Magpie ecosystem.
Motivation:
Supporting the growth and stability of new SubDAOs within the Magpie ecosystem is crucial, as their success has a direct impact on the value of vlMGP. Magpie, through its treasury, owns substantial portions of the SubDAOs’ tokens, and the performance of these SubDAOs can significantly influence the overall value and benefits derived by vlMGP holders. By allocating MGP tokens from the liquidity mining bucket to incentivize early liquidity and participation, we ensure newly launched SubDAOs have a solid foundation for success. This strategy aligns with Magpie’s broader goals of expanding its ecosystem and maximizing value creation for its stakeholders.
Specification:
Allocate a portion of MGP tokens from the Magpie liquidity mining bucket to be used for liquidity incentives and other necessary support to help bootstrap the launch of new SubDAOs up to their TGE.