MIP #46 - Supporting the Utilization of ENA Airdrop for mPENDLE/PENDLE Liquidity on Penpie

Abstract:

This proposal seeks to gather votes from vlMGP holders on whether Magpie should support Penpie’s proposal, which aims to utilize the additional ENA airdrop to improve and deepen the protocol-owned liquidity of the mPENDLE/PENDLE pair on Penpie. By participating in this decision-making process, vlMGP holders can influence the strategic direction and enhancement of the liquidity pool, thereby ensuring that Magpie’s actions align with stakeholder interests and contribute to the overall health of the ecosystem.

Motivation

Supporting Penpie’s utilization of its ENA airdrop for enhancing protocol-owned mPENDLE/PENDLE liquidity aligns with Magpie’s strategic goals of fostering robust liquidity across its ecosystems. This initiative is crucial for reducing slippage, increasing market stability, and improving user trading experiences. By backing this proposal, Magpie demonstrates its commitment to supporting SubDAOs and strengthening the Penpie ecosystem, while leveraging the benefits of external incentives.

Specification:

Vote on whether Magpie should support Penpie’s PIP #14, which proposes utilizing Penpie’s additional ENA airdrop to enhance the protocol-owned liquidity of the mPENDLE/PENDLE pair on Penpie.

Check PIP #14 for more info: https://snapshot.org/#/penpiexyz.eth/proposal/0x8e49d25c7d9d9eb6c56076ab38f6c8e7e776138f6ab399bce6da61f4a16e58fb