We are delighted to provide the April update for Penpie, showcasing our dedication to enhancing our platform offerings and fortifying community engagement. Our paramount focus has been directed towards refining our product features and optimizing the user experience. As our journey progresses, our resolute commitment to the continuous improvement of Penpie remains steadfast. Before delving into the future, allow us to shed light on some notable developments from the preceding month.
Key April Highlights
$275,000 in Voting Incentives Distributed: Over the course of four epochs in April, Penpie successfully distributed over $275,000 in voting incentives to vlPNP and vePENDLE holders, further incentivizing engagement and participation.
PIP #10 Approved by vlPNP Holders: Community trust is a vital element for Penpie, and maintaining a healthy mPENDLE/PENDLE peg is crucial to fostering this trust. To achieve this, PIP #10 aims to strengthen the mPENDLE peg through a buyback and burn strategy.
First LRT Pool Launched on BNB Chain: The boosted ezETH pool has been launched on BNB Chain, marking the first LRT pool on the network. This opens a new era for Penpie on BNB Chain and is expected to increase the platform’s popularity across all chains.
mPENDLE/PENDLE Farm deployed on PancakeSwap via Arbitrum: With the launch of the new mPENDLE/PENDLE farm, users can now provide liquidity with their mPENDLE and earn CAKE rewards on Arbitrum. This also allows Penpie to incentivize liquidity providers in a cost-efficient manner through the Cakepie Voting Market.
LRT Season on Penpie: The Liquid Restaking Token (LRT) landscape has gained significant traction in the DeFi space, driven by Eigenlayer’s restaking capabilities. Penpie has positioned itself as a liquidity hub for LRTs, such as Zircuit eETH, rsETH, ezETH, uniETH, and apxETH pools, among others, across Ethereum, Arbitrum, and BNB Chain. Liquidity providers in these pools are rewarded with boosted PENDLE emissions, Eigenlayer Points, and potential airdrops from the respective protocols. Users interested in point farming can effectively do so through Penpie.
Platform
- LRT pool migrations completed for rswETH, uniETH, ezETH pools
- PIP #10 went live for enhancing mPENDLE / PENDLE peg
- New boosted eETH pool launched on Arbitrum
- New boosted rsETH pool launched on Arbitrum
- The boosted stTAO pool launched on Ethereum
- New Penpie eETH strategy launched on Stella
- mPENDLE / PENDLE farm launched on Pancakeswap via Arbitrum
- New boosted eETH pool launched on Ethereum
- The boosted ezETH pool launched on Ethereum
- The boosted ezETH pool launched on BNB Chain as the first LRT pool
Penpie experienced an extraordinary month of growth, marked by new pool launches and platform improvements, highlighting our commitment to innovation and enhancing our offerings. We express sincere gratitude to our community, whose invaluable contributions drove these advancements. Moving forward, Penpie remains dedicated to fostering effective collaborations and widening our impact in DeFi as we collectively strive for long-term sustainability, elevating the platform, and creating new avenues for growth.
About Penpie: Penpie is a Next-Generation DeFi SubDAO created by Magpie XYZ to provide Pendle Finance users with yield and veTokenomics boosting services. Integrated with Pendle Finance, Penpie focuses on locking PENDLE tokens to obtain governance rights and enhanced yield benefits within Pendle Finance. Penpie revolutionizes the way users can maximize their returns on investments and monetize their governance power.
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