MIP #34 - Transition 50% of vePENDLE Voter Rewards to PNP

Abstract

This proposal seeks to gather votes from vlMGP holders on whether Magpie should support Penpie’s PIP #11. The PIP #11 proposal aims to transition 50% of vePENDLE voter rewards from wETH to PNP tokens. The feedback from vlMGP holders will guide Magpie’s stance on this matter, ensuring that our actions align with the interests of our stakeholders.

Motivation

It is crucial to consult vlMGP holders on key decisions impacting our SubDAOs. Supporting PIP #11 could potentially enhance the value of PNP tokens and increase stakeholder engagement within the Penpie ecosystem. This proposal aligns with Magpie’s commitment to act in the best interest of our community. By transitioning 50% of the rewards from wETH to PNP, we aim to support the strategic objectives of both Magpie and Penpie, fostering stability and growth within our ecosystem.

Specification

Vote on whether Magpie should support the transition of 50% of vePENDLE voter rewards from wETH to PNP.

Read more about PIP #11: https://snapshot.org/#/penpiexyz.eth/proposal/0x176216e53d1aacc11f142fa8efbe2c978df73e5baae19d3d91b6b2daa85573ae