▫️Penpie (Pendle Finance)

Pendle Finance, a DeFi yield-trading protocol with over 4.5 billion in TVL, successfully integrated with Magpie to optimize yield opportunities and enhance its veTokenomics model. This collaboration led to the creation of Penpie, a product tailored to support and nurture the growth of Pendle Finance and its broader ecosystem. Through Penpie, Magpie not only extended its influence but also amplified the benefits it provides to DeFi participants.

Integration Details

Pendle Finance implements the veToken model for its governance token PENDLE. PENDLE holders can lock their tokens as vePENDLE on Pendle Finance to own governance rights, earn rewards and get higher APR% as liquidity providers in the protocol. In order to get the most benefits of vePENDLE, users must lock their PENDLE for 2 years.

Penpie allows PENDLE holders to earn increased PENDLE rewards as passive income, offers Pendle Finance voters cost-effective voting power, and enables liquidity providers to get increased APR% without the need of locking PENDLE tokens as vePENDLE.

• Stake mPENDLE - Penpie offers PENDLE holders the opportunity to earn substantial rewards by converting their governance tokens (PENDLE) into mPENDLE. Users can stake mPENDLE on Penpie to earn an enhanced passive income in the form of PENDLE.

• Boosted Yields - Thanks to Penpie's vePENDLE holdings, liquidity providers can deposit their assets on the platform and receive boosted rewards. This removes the necessity for them to individually convert their PENDLE into vePENDLE.

• Cost-Effective Voting Power - The voting power amassed by Penpie through vePENDLE is allocated to vlPNP holders, allowing them to engage effectively in Pendle's governance. PNP, Penpie's governance token, can be locked as vlPNP, providing access to its advantages. Vote-Locked PNP holders can earn rewards and influence Pendle's governance, thereby maximizing their passive income. Users must wait 60 days for their vlPNP to be completely unlocked and converted back to PNP.