mWOM auto-compounding pool

[Martybsc]

As you know the Magpie platform is committed to accumulate veWOM and that brings better benefits for all the users that participate in Magpie. As we know the mWOM pool offers depositors to earn WOM tokens with their mWOM.

In this post i suggest to deploy an mWOM auto-compounding pool that automatically converts all the earned WOM into mWOM for users that are interested in acquiring mWOM to accumulate more over time and saving gas fees. It can help to accumulate more veWOM, support the price of mWOM since most of the users that stake their mWOM on the Auto-Compounding pool would be interested in keeping their mWOM to grow their position.

It may be good to implement a withdrawal fee of approximately 0.10%-0.20% during a specific period following either a deposit or reward claim. The fee would be shared with mWOM stakers in the auto-compounding pool, boosting the APR for them and maintaining the stability of the mWOM staked. After a set number of days without making a deposit or claiming rewards, users should be able to withdraw their funds without incurring a fee.

The mWOM pool can still in operation and Magpie has further enhanced its offerings with the addition of WOM/mWOM liquidity pools from Wombat, allowing users to make informed decisions regarding the placement of their assets according to their individual preferences.

[ksl]

yes I like the auto compound idea, in fact it’s been suggested by many of us from beginning. I personally like the auto compounding feature with time-locked in PCS cake pool. Basically i locked all my cakes for a year and let it grows over the time.

but ofcoz, Magpie is still new and long time-locked might not be convincing idea, probably short lock time (by days or weeks) would making more sense.

and what’s more is that by auto compund mwom pool, all wom rewards could also converted into mwom via smart converter, this not only helping to maintain healthy peg but also possible to increase number of vewom.

One more thing, with auto compound, Magpie can display the compounded APY, instead of APR. and normally APY would be higher as it take into account of compound interest. This is one way in attracting people, as many people not really getting the differences between APR & APY.

Lastly, no comment on the fees.

[orsofinance]

or we can make a simple button by activating it we choose that all our WOM is automatically converted into mWOM and our MGP into vlMGP automatically.

[Lego]

Good suggestion imo the auto pool would be good for users and also for the platform in the long term, thanks for your support.