Enable MGP/ETH (0.25% fee tier) ALM gauge from DefiEdge on Arbitrum

Overview

Proposal to enable MGP/ETH (0.25% fee tier) ALM gauge from DefiEdge on Arbitrum

Background

  • MGP is the governance and revenue-sharing token of Magpie. Through MGP, users can benefit from the growth of the Magpie Ecosystem.

  • ETH is the native token of the Ethereum blockchain.

  • DefiEdge is an on-chain asset management protocol that facilitates connections between liquidity providers and fund managers, simplifying user investments.

Details

  1. Boost Multiplier and Emission Cap %: 1.00x boost multiplier and 5% emission cap

  2. Audits: Provide links to relevant audits

  1. Token Utility: MGP allows users to earn passive income and access voting power within the Magpie Ecosystem.

  2. Volatility: Not pegged asset

  3. Oracles: No oracles used

  4. Control:

  • The MGP token contract is not upgradable so it has no owner**

Which address holds the private keys to the Position Manager vault contract? If it’s a multisig, please indicate: X of Y signers needed for transactions

  • 0x4cbfb977630d8d93b8dbb167328c8d83fc224117

  • Needs 2/7 addresses to sign a transaction

  1. Merit: By whitelisting the MGP-ETH ALM from DefiEdge, PancakeSwap can potentially attract more TVL and generate trading fees while voters within the ecosystem can earn bribe incentives.

  2. Vault Strategy (for Position Managers only): What strategy does the vault use? Broadly, how does it work? Please share documentation if possible

DefiEdge has its own ALO strategy, which is a highly efficient automated rebalancing strategy. These strategies feature automated rebalancing and are based on multiple parameters, such as price, ratio, and volatility. The strategy aims to maintain a 50-50 asset ratio and we have created multiple ranges that also enable the buying and selling of assets.

https://docs.defiedge.io/strategy-manager/Rebalance

Links

  1. MGP address: 0xa61f74247455a40b01b0559ff6274441fafa22a3
  2. Liquidity pool address: 0x5e3c3a063cc9a4aeb5310c7fadc2a98aebdd245d
  3. Position manager vault address: 0x7B89B8c243bd56301B0B749a16B071A8285203c8
  4. Website:
  1. Socials
  1. Documentation
  1. Github
    Magpie Github

  2. Any other relevant links
    Magpie Medium

2 Likes

Thank you for your application! The Kitchen has enabled the MGP/ETH (0.25% fee tier) ALM gauge from DefiEdge on Arbitrum with 1x boost multiplier and 2% emissions cap.

1 Like