MIP #17 - Reducing the total emission of MGP tokens

Reducing the total emission of MGP tokens.

Abstract

Magpie is a platform that enhances yield and vetokenomics across different blockchain networks. MGP is the governance token of Magpie. It can be locked as vlMGP to gain a portion of the platform’s revenue and control governance power across various protocols. This translates into multiple income streams, including the Magpie SubDAO Model. As the Magpie XYZ ecosystem continues to expand and grow in value, it positively affects the MGP token. In line with these fundamentals, this proposal recommends reducing overall MGP emissions and permitting the team to determine the distribution percentage of MGP emissions across various chains.

Motivation

The MGP token is a fundamental component of the Magpie ecosystem and offers a myriad of advantages to its holders. By reducing the emission rate of MGP, we aim to enhance its value and scarcity, ensuring that MGP remains an attractive investment over time. Previous emission controls have successfully preserved the token’s value. As Magpie introduces more SubDAOs, the advantages for MGP holders increase, further elevating the token’s worth and unveiling expanded opportunities.

Specification

• Decrease total MGP emissions per second from 0.6 MGP/sec to 0.48 MGP/sec or to 0.36 MGP/sec.

• Allow the team to determine the distribution percentage of MGP emissions across various chains.