Abstract
This proposal seeks to gather feedback from vlMGP holders on whether Magpie should support Penpie’s proposal to adjust its revenue mechanisms and treasury utilization strategies, as outlined in PIP #17. The proposal focuses on reallocating liquidity mining rewards to the Arbitrum chain and authorizing the strategic investment of treasury-held mPENDLE assets. Input from vlMGP holders will guide Magpie’s stance, ensuring alignment with the community’s interests and long-term goals.
Motivation
Penpie’s proposed adjustments aim to enhance operational efficiency and support the stability of the mPENDLE/PENDLE peg. By reallocating liquidity mining rewards to the Arbitrum chain and deploying treasury resources strategically, Penpie seeks to optimize returns and improve ecosystem performance. Supporting this proposal aligns with Magpie’s objectives of fostering growth within its SubDAOs and ensuring effective treasury management.
Specification
Vote on whether Magpie should support Penpie’s PIP #17, which includes:
- Gradually reallocating all liquidity mining rewards for mPENDLE pools from all chains other than Arbitrum to the Arbitrum chain over five months to bolster the mPENDLE Stability Vault and mPENDLE Stake pools.
- Authorizing the strategic allocation of treasury-held mPENDLE assets for investments, with revenues utilized to repurchase and reinvest in mPENDLE.