Enable mwBETH/wBETH (0.02% fee tier) Stableswap gauge on BNB Chain

Overview

Proposal to enable mwBETH/wBETH 0.02% Stableswap gauge on BNB Chain.

Background

mwBETH is a liquid restaked version of Binance’s wBETH token, developed by Eigenpie. Users have the option to liquid restake their wBETH as mwBETH through Eigenpie, enabling them to access the benefits of restaking and further enhance their passive income potential. mwBETH is fungible, and users will be able to trade mwBETH for wBETH and vice versa via PancakeSwap on the BNB Chain.

With the goal of building robust liquidity for the mwBETH-wBETH pair on BNB Chain, Eigenpie commits to incentivizing the pair through the Cakepie bribery market in the future. Eigenpie plans to distribute incentives to voters who support the pool each epoch, aiming to maintain a competitive APR for mwBETH-wBETH liquidity providers and encouraging long-term participation. As part of the Magpie Ecosystem, Eigenpie 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:

Blocksec audit:

PeckSheild audit:

AstraSec

Token Utility: Token Utility: mwBETH (Magpie wBETH) is minted when users restake wBETH through Eigenpie. mwBETH can be utilized in DeFi, allowing users to continue earning the underlying yield from wBETH, as well as restaking rewards from Eigenpie.

Volatility: Not depegged

Oracles: Eigenpie uses an Oracle to track how much underlying ETH each mwBETH contains.

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, growing LRT ecosystem on PancakeSwap)

Links

Token address: TransparentUpgradeableProxy | Address 0x7dC91cBD6CB5A3E6A95EED713Aa6bF1d987146c8 | BscScan

Liquidity pool address: Pancake StableSwap LPs (Stable-LP) Token Tracker | BscScan

Website: Magpie XYZ

Socials:

X: https://twitter.com/Eigenpiexyz_io

Telegram: Telegram: Contact @eigenpiexyz_official

Documentation: Not live

Github: Not public

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

3 Likes

Thank you for your application! The Kitchen has enabled the mwBETH/wBETH Stableswap gauge on BNB Chain with 1x boost multiplier and 1% emissions cap.

1 Like