MIP #59 - Supporting Cakepie’s Proposal to Adjust Fee Structure for v3 Pools

Abstract

This proposal seeks to gather input from vlMGP holders on whether Magpie should support Cakepie’s plan to adjust the fee structure for v3 pools. The proposed model suggests implementing a 40% fee exclusively on the boosted APR generated by Cakepie, replacing the current 20% fee on total LP rewards in v2 pools. This change aims to align fees with the additional value provided to liquidity providers (LPs), ensuring fairness and sustaining long-term participation.

Motivation

It is essential for vlMGP holders to guide Magpie’s stance on key decisions impacting its SubDAOs. Supporting Cakepie’s proposal could strengthen its competitive position by aligning fees with the benefits it provides, encouraging greater user participation and satisfaction. By consulting vlMGP holders, this MIP ensures that Magpie acts in the best interests of its stakeholders while supporting strategic changes within its ecosystem.

Specification

Vote on whether Magpie should support Cakepie’s proposal to replace the current flat 20% fee on total LP rewards with a 40% fee applied exclusively to the boosted APR generated by Cakepie.

For more details check CIP #10: https://snapshot.org/#/cakepiexyz.eth/proposal/0x1bd8f882c546951dae374e0bd4d5a4e1a2e21c62817e0f4cba9152dc982f372f