Enable team to modify revenue share and PNP emission between mPENDLE Staking Pool and mPENDLE Stability Vault.
Abstract:
Penpie is a yield and veTokenomics boosting service provider built on top of Pendle Finance, focused on accumulating PENDLE tokens and converting them to vePENDLE to gain increased voting power and yield-boosting capabilities. The platform has introduced mPENDLE, a variant of the PENDLE token from Pendle Finance that allows users to maximize their rewards. Converting of PENDLE into mPENDLE on Penpie allows PENDLE holders to earn enhanced passive income, with users having the option to stake in either the mPENDLE Staking Pool or the mPENDLE Stability Vault. Currently, the TVL within the mPENDLE Stability Vault is lower than the TVL in the mPENDLE Staking Pool, yet it offers a higher APR. In the event that the TVL within the mPENDLE Stability Vault surpasses that of the mPENDLE Staking Pool, we aim to ensure a higher revenue share for mPENDLE Stability Vault participants, independent of TVL growth. This proposal suggests empowering the team to adjust the revenue share and PNP emission between the mPENDLE Staking Pool and mPENDLE Stability Vault, thereby granting higher and more attractive APRs for mPENDLE Stability Vault users.
mPENDLE Staking:
mPENDLE Stability Vault:
Motivation:
Users who deposit their mPENDLE in the Stability Vault are core supporters of Penpie’s long-term development, contributing to the platform’s growth and stability. By ensuring a higher APR in the mPENDLE SV than in the mPENDLE Staking Pool, Penpie can encourage greater user engagement and long-term participation. This approach also helps to solidify the community’s trust in Penpie and maintain a higher peg for the mPENDLE token.
Specification:
If approved, PIP #7 will enable the team to adjust the incentive ratio in response to changes in TVL, providing a higher revenue share and PNP rewards for mPENDLE SV depositors than for the normal mPENDLE Staking Pool. The objective of this proposal is to maintain a higher APR for the mPENDLE Stability Vault and adjust it as necessary, ensuring that core supporters are adequately rewarded for their commitment to Penpie’s long-term development and success.