MIP #45 - Reduction of MGP Emissions for mWOM Staking Pools

Abstract

This proposal seeks to reduce MGP emission rates for mWOM staking pools on the BNB and Arbitrum chains. The recent increase in MGP’s price has led to APRs exceeding 150%, prompting a need for adjustments to maintain sustainable yields and optimize token value.

Motivation

With MGP prices rising, APRs have reached unsustainable levels. Reducing emissions is necessary to balance rewards and sustain the token’s value. The changes are focused on:

mWOM Staking Pools on BNB and Arbitrum: A 50% reduction in emissions to moderate the high APRs. mWOM Stability Vault on BNB: A 25% reduction to align with the strategic goals. mWOM Stability Vault on Arbitrum: Emissions remain unchanged due to existing stability. These adjustments will support long-term sustainability and align with Magpie’s strategic goals.

Specification

We ask vlMGP holders to vote on whether to approve the proposed MGP emission reductions:

• mWOM Staking Pools: 50% reduction on BNB and Arbitrum.
• mWOM Stability Vault on BNB: 25% reduction.
• mWOM Stability Vault on Arbitrum: No change.