Enable PENDLE/mPENDLE (0.25% fee tier) ALM gauge from CupcakeHop on Arbitrum

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Overview Proposal to enable PENDLE/mPENDLE (0.25% fee tier) ALM gauge from CupcakeHop on Arbitrum

Background

  • mPENDLE refers to “Magpie PENDLE”, is a liquid version of vePENDLE that allows users to earn rewards for their active user engagement on Penpie. PENDLE holders can convert tokens into mPENDLE on Penpie.
  • PENDLE is the native token of Pendle Finance. Through PENDLE, users can benefit from the growth of Pendle Finance and actively participate on the platform.
  • Cupcake Hop offers cross-chain vaults and portfolio management tools with AI-driven insights for smarter and sweeter investment decisions.

Details

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

Audits:

Token Utility: PENDLE allows users to earn rewards and access voting power within Pendle Finance.

Volatility: Not pegged asset

Oracles: No oracles used

Control: The PENDLE 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
Address: 0x05cC3CA6E768a68A7f86b09e3ceE754437bd5f12
Signers: Needs 2/5 addresses to sign a transaction

Merit: By whitelisting the PENDLE-mPENDLE ALM from CupcakeHop, PancakeSwap can potentially attract more TVL and generate trading fees while voters within the ecosystem can earn voting incentives.

Vault Strategy (for Position Managers only):
Strategy: YieldIQ

The YieldIQ strategy is designed to accept only PENDLE deposits, with the goal of deepening liquidity for the mPENDLE tokens. When users deposit PENDLE, it is allocated to a V3 pool paired with mPENDLE. This liquidity is positioned below the market price of mPENDLE, passively buying and trading these tokens while keeping liquidity providers predominantly long on PENDLE, as the vault maintains over 75% of its assets in PENDLE.

Links:

Socials:

Documentation:

Github:

Any other relevant links: Penpie Blog

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