Abstract
This proposal seeks to determine Magpie’s stance on Penpie’s PIP #26, which proposes deploying a wrapper dissolution smart contract to permit mPENDLE holders to optionally decommission mPENDLE in exchange for PENDLE at a ratio of 1:0.75, subject to the final unlocking of tokens following the deprecation of the vePENDLE framework.
Motivation
Following the deprecation of the vePENDLE framework, Penpie requires a structured mechanism to address the long-term status of mPENDLE while accounting for related liquidity, operational, legal, and governance constraints.
Supporting PIP #26 would allow Penpie to establish a defined wrapper dissolution process, permanently remove decommissioned mPENDLE from circulation, and preserve the DAO’s discretion over the long-term deployment and optimisation of underlying assets.
Specification
Magpie will vote according to the outcome of this proposal.