Weekly Magpie Lottery

Hi Magpie Fam,

To be honest, I am also a fan of Pancakeswap’s Lottery :slight_smile: I think it works pretty well in CAKE burning mechanism.

So, the question is: Can we have similar feature in Magpie? And how would it bring benefit to us?

My answer: Yes! Why Not?

First thing first, where will the Lottery Prize Rewards come from? Well, I would propose to implement a slightly adjustment in emission weight of our main pools, mWOM pool & MGP pool.

Here’s the proposal:

Pool Emission Type Weight New Weight
mWOM MGP 280 270
vlMGP MGP 280 270
BUSD (Main Pool) vlMGP 280 270
USDC vlMGP 280 270
USDT vlMGP 280 270
DAI vlMGP 110 100

Well, with all these pools having 10 weight of reduction, will results in about 0.1% drop in APR, which is quite insignificant and easily been covered by MGP price movement.

According to my calculation, this will giving us of about 70828 MGP in the prize pool every week. So next thing, how’s the prize allocation?

Here’s my proposal:

Digit Matched Prize Pool Allocation (%) MGP
First 1 Digit 3 2124.8
First 2 Digit 4 2833.1
First 3 Digit 5 3541.4
First 4 Digit 8 5666.2
First 5 Digit 20 14165.6
First 6 Digit 40 28331.2
WOM UP Pool 20 14165.6

Yeah you spot it right, there is an allocation of 20% to the “WOM UP” pool instead of burning pool like in the Pancakeswap. So that we could always recycle the MGP to gain more veWOM, and this help to keep us up in the WOM war.

Next, how about the entry ticket?

My proposal to this is to introduce a Win-Win system, cause no one is gonna lose! Here’s how:

  1. Every user convert 50 WOM into mWOM (not swap from Wombat but generate fresh veWOM to Magpie) will gain 1 ticket.

  2. Spend 200 MGP to purchase 1 ticket.

The 1st entry method is encouraged as the user will get same value of mWOM + 1 ticket, nothing lose, and Magpie get new veWOM! For 2nd method, the MGP spent will then moved to the prize pool to make the prize pool even more attractive.

Furthermore, normally the First 3 big prizes are not been won every week, so the prize pool will keep accumulating. More prize, more users joining, more veWOM, more fund to WOM UP pool, then more veWOM again → Positive Looping

Let’s think about it Mates! Happy Lunar New Year.


Great idea this would for sure support Magpie in the long term. In this example, everyone that has the correct first digit would win? Thank you.

Yes, everyone wins the correct digit share the coresponding prize pool

It’s a great idea! I noticed PCS also has several other ways to win. Do you believe the lottery is the most favorable?

Great that u agree, yes i do think lottery is more favorable. Iet try to make to basic version of lottery, and then things could be adjusted further to fit magpie😃 ofcoz, subjected to community voted passed😂