📝Overview
Overview
Last updated
Overview
Last updated
The Magpie DAO is a suite of protocols that transcends conventional platforms with the goal of enhancing participation and user opportunities across DeFi. Integrated with an array of structures and solutions, Magpie adapts itself to different frameworks with the goal of achieving continuous growth while supporting the core functionalities of the decentralized finance ecosystem. As a Mega DAO composed by various SubDAOs, Magpie focuses on blackholing governance tokens, offering Liquid Restaking Services for Ethereum and Liquid Staking for Bitcoin.
The SubDAO model is a Magpie Factory designed to develop new products that enhance other innovations within the DeFi ecosystem. Its expansive capabilities include the creation of new SubDAOs, each designed with a unique purpose and function that aligns with a specific parent protocol. The cornerstone of the SubDAO model is a symbiotic relationship between Magpie and the solutions it integrates, fostering an environment in which involved entities prosper and collectively contribute to the broader growth of the DeFi landscape. Each SubDAO possesses its own governance token, with the Magpie Treasury retaining a percentage of the governance token from each SubDAO.
MGP is the governance and active reward-earning token of the Magpie DAO. MGP can be locked on Magpie as Vote-Locked MGP at 1:1 ratio. Vote-Locked MGP, also known as vlMGP, allows MGP holders to earn rewards and share governance benefits.
Since a percentage of the governance tokens from each SubDAO is allocated to the Magpie Treasury, the benefits that Magpie’s Treasury acquires from each SubDAO's token allocation are shared among vlMGP holders. This structure allows vlMGP holders to earn rewards and get involved in voting processes across all SubDAOs and their integrated protocols, regardless of the network.
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