Abstract
This proposal asks vlMGP holders to decide whether Magpie should support Eigenpie’s EIP #3, which lowers the APR threshold that triggers surplus reward reallocation into the automated EGP buyback program from 50% to 30%, effective from the next monthly reward cycle.
Motivation
As Magpie holds governance power in Eigenpie, it is essential that vlMGP holders guide how that influence is used on proposals impacting reward economics, buyback cadence, and long-term token value capture. EIP #3 aims to redirect excess rewards earlier into buybacks, increasing buyback volume while maintaining more sustainable yields for vlEGP holders. Consulting vlMGP holders ensures alignment between Magpie’s governance actions and stakeholder interests.
Specification
Vote on whether Magpie should support Eigenpie’s EIP #3 to reduce the vlEGP APR buyback threshold from 50% to 30%, with all other reward capping, surplus redirection, buyback execution, and treasury handling remaining unchanged.