# \[MIP #97\] - Determine Magpie’s Stance on Penpie’s PIP #26

**URL:** <https://gov.magpiexyz.io/t/mip-97-determine-magpie-s-stance-on-penpie-s-pip-26/795>\
**Category:** 4. Magpie Improvement Proposals\
**Created:** [June 26, 2026, 12:51am UTC](https://gov.magpiexyz.io/t/mip-97-determine-magpie-s-stance-on-penpie-s-pip-26/795 "2026-06-26T00:51:49Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Lego](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.magpiexyz.io/lego/32/78_2.png) [@Lego](https://gov.magpiexyz.io/u/Lego)\
**Post date:** [June 26, 2026, 12:51am UTC](https://gov.magpiexyz.io/t/mip-97-determine-magpie-s-stance-on-penpie-s-pip-26/795/1 "2026-06-26T00:51:50Z")

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## 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.