MIP #61 - Supporting mCAKE Value Enhancement

Abstract

This proposal seeks to gather feedback from vlMGP holders on whether Magpie should support Cakepie's CIP #11. The proposal outlines two main initiatives to stabilize and enhance the value of mCAKE: allocating 20% of mCAKE earnings for buyback and burn and increasing CKP emissions. Feedback from vlMGP holders will guide Magpie's voting decisions, ensuring alignment with the interests of our stakeholders.

Motivation

Magpie is committed to ensuring its SubDAOs operate in the best interests of its stakeholders. CIP #11's initiatives aim to enhance the intrinsic value of mCAKE, strengthen its peg to CAKE, and increase the strategic flexibility of the Cakepie ecosystem. Supporting these measures could bolster Cakepie's overall stability and growth, directly benefiting the broader Magpie ecosystem. By involving vlMGP holders in this decision, Magpie demonstrates its dedication to community-driven governance and strategic alignment.

Specification

Vote on whether Magpie should support CIP #11, which proposes allocating 20% of mCAKE earnings for buyback and burn and increasing CKP emissions by 120,527.8689 CKP annually to support mCAKE peg stability.

For more details please check CIP #11 https://snapshot.org/#/cakepiexyz.eth/proposal/0xafea11cf3329566f5b7c69d13d2ebb304a72005783c1c8b089c0f54b3e506b20