Enable mPENDLE/PENDLE (0.25% fee tier) Stableswap gauge on Arbitrum

Gauges
1

Overview

Proposal to enable mPENDLE/PENDLE 0.25%% Stableswap gauge on Arbitrum

Background

mPENDLE is a liquid version of Pendle Finance’s vePENDLE, developed by Penpie. Users have the option to convert their PENDLE into mPENDLE through Penpie, enabling them to earn revenue share from Pendle Finance without the need to lock their mPENDLE on Penpie. mPENDLE is fungible, and once whitelisted, users will be able to trade mPENDLE for PENDLE and vice versa via PancakeSwap on Arbitrum.

Aligned with our goal of building robust liquidity for the mPENDLE-PENDLE pair on Arbitrum, Penpie is committed to incentivizing the pair through the Cakepie bribery market. We plan to distribute ~$25,000 worth of $PNP incentives to voters each epoch, aiming to maintain a competitive APR for mPENDLE-PENDLE liquidity providers and encouraging long-term participation. As part of the Magpie Ecosystem, Penpie looks forward to leveraging the services provided by PancakeSwap and Cakepie, promoting sustainable growth for all parties involved.

Details

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

Audits:

  • Watchpug audit:

Audit 1: audit/Penpie/WatchPug_V1.pdf at main · magpiexyz/audit · GitHub

Audit 2: audit/Penpie/WatchPug_V2.pdf at main · magpiexyz/audit · GitHub

  • Zokyo audit:

Audit 1: audit/Penpie/Zokyo_V1.pdf at main · magpiexyz/audit · GitHub

Audit 2: audit/Penpie/Zokyo_V2.pdf at main · magpiexyz/audit · GitHub

Token Utility: mPENDLE (Magpie PENDLE) is minted by converting PENDLE on Penpie. It can be staked on the platform to earn revenue share from Penpie.

Volatility: The price relationship between mPENDLE and PENDLE has been healthy, with the peg closely following PENDLE’s price. We aim to further improve the peg by white-listing the mPENDLE/PENDLE pair on PancakeSwap and effectively incentivizing voters and liquidity providers.

Oracles: No oracles used.

Control: The private keys to the contract are controlled by the following 3/6 multisig 0xf433c2A2D6FACeCDd9Edd7B8cE9cEaaB96F41866, where transactions require validation from 3 out of 6 signers.

Merit: New DAO onboarded (TVL, bribes for voters via Cakepie, trading fees, volume)

Links

Token address:

Liquidity pool address: (0x73ed25e04Aa673ddf7411441098fC5ae19976CE0)

Website: https://www.pendle.magpiexyz.io/stake

Socials:

Documentation: https://docs.penpiexyz.io/

Github: GitHub - magpiexyz/penpie_contracts

Any other relevant links: https://blog.penpiexyz.io/

1 Like
2

Hi @Cakepie ,

Thanks for reaching out. We’ll process your gauge application and update in our TG group shortly.

Lava

3

Thank you for your application! The Kitchen has enabled the mPENDLE/PENDLE (0.25% fee tier) Stabeswap gauge on Arbitrum with 1x boost multiplier and 5% emissions cap.