MIP #16 - Vote “Yes” to list the zBNB Pool on Wombat’s Voting Gauge

Vote “Yes” to list the zBNB Pool on Wombat’s Voting Gauge.

Abstract

With the planned release of the Horizon Protocol 3 Perpetual Futures exchange, the beta release of the new V2 UI, and the upcoming deployment of the zBNB pool on Wombat Exchange (BNB Chain), the next goal for Horizon Protocol is to list this pool on Wombat’s voting gauge and providing 30,000 HZN bribes/week. The listing of this pool on the voting gauge will help zBNB pool LPs earn a portion of the WOM emissions which will contribute to increasing the Wombat TVL and volume, but also enable veWOM holders to earn yield from a new source of bribes. This proposal suggests supporting the listing of the zBNB Pool on Wombat’s voting gauge by voting in favor using Magpie’s veWOM holdings.

Motivation

Horizon Protocol’s goal is to incentivize veWOM voters and zBNB pool liquidity providers to ultimately increase depth of liquidity and peg stabilization for zBNB. Horizon Protocol will provide a new source of bribe incentives via the HZN token, which can potentially be amplified in reach and higher APR for LPs through Wombat’s incentive system. By providing enhanced liquidity pools for Wombat users, Magpie stands to potentially benefit from an increase in TVL as users can supply liquidity via Magpie to optimize their WOM rewards through our platform. In addition, vlMGP holders will have the opportunity to vote for the zBNB pool and earn incentives through the Magpie bribery market.

Specification

Use Magpie’s veWOM holdings to support the listing of the zBNB Pool from Horizon Protocol on Wombat’s voting gauge (BNB Chain).