💡Glossary

Glossary

MGP

Magpie's governance and user engagement rewards token. Users can lock MGP to participate in governance and earn rewards for their active participation.

vlMGP

Vote-Locked MGP. Locked version of MGP. vlMGP holders control the voting power that Magpie owns on Wombat. Users can lock their MGP to receive vlMGP at 1:1 ratio. vlMGP holders can earn rewards for their active participation from the platform and also have governance rights. Vote-Locked MGP holders can participate in the governance of Wombat and Magpie.

SubDAO

Name used to describe every protocol created within the Magpie Ecosystem. Each SubDAO is exclusively focused on providing services to a specific platform. Magpie is set to own a percentage (15%-20%) of each SubDAO's governance token supply, benefiting directly from long-term development and growth.