MIP #10 - Vote “Yes” to list the mPENDLE/PENDLE Pool on Wombat’s Voting Gauge

Abstract

A proposal has been put forward on Wombat’s governance forum to list the mPENDLE/PENDLE pool on the Wombat Exchange voting gauge. If implemented, this initiative would allow mPENDLE/PENDLE liquidity providers to earn a portion of the daily WOM emissions distributed by Wombat. Furthermore, Penpie is committed to offering incentive-based ‘bribes’ to Wombat voters to secure their support. The proposal also suggests using all the veWOM accumulated by Magpie to back the listing of the mPENDLE/PENDLE pool on Wombat’s voting gauge.

Motivation

The driving force behind this proposal is to support Penpie’s aspiration to broaden its influence, leveraging Wombat’s emission distribution system as a catalyst. The intended outcome is to enhance the rewards for mPENDLE/PENDLE depositors, thus drawing in a more substantial liquidity pool as users stand to benefit from an amplified APR. Through the promise of appealing incentives to voters, Penpie aims to foster a win-win situation for all parties involved, including vlMGP holders who vote for the mPENDLE/PENDLE pools through the gauge in the future.

Specification

This proposal recommends utilizing all the veWOM accumulated by Magpie to cast a collective vote, supporting the listing of the mPENDLE/PENDLE pool on the Wombat voting gauge via Arbitrum. Both veWOM and vlMGP holders who support the mPENDLE/PENDLE pool will be incentivized by Penpie. We, in our capacity as Magpie, put forward this proposition in good faith and earnestly encourage all vlMGP holders to back this initiative, envisioning mutual growth and shared success for the Magpie Ecosystem.