CONNECT WALLET
FAQ
How does MGP accrue value?
By receiving a constant stream of revenue from all of the Magpie Subdaos - The vlMGP Monthly Rewards. Also by allowing vlMGP holders to participate in the upcoming IDOs that take place in the Magpie Launchpad.
What happens when the Treasury tokens are fully vested?
After the two-year since the Subdao Launched, vesting period concludes. Treasury tokens become fully vested meaning Magpie has received its entire share and solidified its ownership in the SubDAOs by locking these tokens. This ensures that vlMGP holders receive maximized rewards, as Magpie distributes 100% of the revenue from these locked tokens exclusively to MGP lockers.
When can we expect new SubDAOs to be launched by Magpie?
Magpie's approach to expanding its ecosystem involves continuously weaving new protocols into its fabric, suggesting that the introduction of new SubDAOs is an ongoing process. An Announcement could happen any time.
Is there a burning mechanism for MGP ?
Magpie doesn't have a general burning mechanism for MGP; instead, it focuses on increasing MGP value through revenues from SubDAOs. The exception is during IDOs of new SubDAOs, where MGP can be burned for preferential allocations, offering a targeted approach to enhance value and participation opportunities for MGP holders.
Does Magpie own a portion of each of its SubDAOs?
Yes, Magpie owns a portion of each of its SubDAOs. Magpie reserves a specific percentage of tokens from each SubDAO for the Magpie Treasury, which is vested over a period of two years. This strategic allocation underscores Magpie's commitment to its SubDAOs and its role in their governance and revenue-sharing mechanisms.
What are the benefits of locking MGP?
Locking MGP to receive Vote-Locked MGP (vlMGP) offers 2 main benefits. Monthly rewards from all Magpie Subdaos. Including but not limited to Cakepie, Radpie and Penpie, and also Preferential access to future IDOs of SubDAO tokens at very low FDV.
What Subdaos are currently part of the Magpie ecosystem?
As of march 2024, the Ecosystem is composed of Magpie and 5 SubDAOs: Penpie, Cakepie, Radpie, Campie and Eigenpie.