MIP #42 - Utilize zkSync and LayerZero Airdrops as Bribes for mCAKE/CAKE Pool
Abstract
This proposal seeks to gather votes from vlMGP holders on whether Magpie should support Cakepie’s CIP #5. The proposal aims to use the zkSync and LayerZero airdrops received from PancakeSwap as bribes for the mCAKE/CAKE pool. The feedback from vlMGP holders will guide Magpie’s stance on this matter, ensuring that our actions align with the interests of our stakeholders.
Motivation
Supporting CIP #5 could potentially enhance liquidity and engagement within the Cakepie ecosystem. The amount of airdrops received was modest: 108,279 zkSync tokens (ZK) and 796 LayerZero tokens (ZRO). Directly distributing them to mCAKE holders may result in unclaimed rewards due to higher gas fees than the airdrop amount. By using these airdrops as bribes for the mCAKE/CAKE pool, we incentivize liquidity provision more effectively. This proposal aligns with Magpie’s commitment to act in the best interest of our community by fostering stability and growth within our ecosystem.
Specification
Vote on whether Magpie should support the utilization of zkSync and LayerZero airdrops as bribes for the mCAKE/CAKE pool to incentivize liquidity providers, proposed by Cakepie.
Off-Chain Vote
Yes, support!
5.93M vlMGP99.4%
No, don't support!
33K vlMGP0.6%
Timeline
Jul 18, 2024Proposal created
Jul 18, 2024Proposal vote started
Jul 20, 2024Proposal vote ended
Jul 20, 2024Proposal updated