We are delighted to provide the March update for Penpie, showcasing our commitment to enhancing our platform offerings and strengthening community engagement. Our primary focus has been on improving our product features and user experience, with a strong emphasis on delivering exceptional quality. As our journey continues, our resolve to perpetually improve Penpie is as strong as ever. Before moving ahead, let’s delve into some key developments from the previous month.
Key March Highlights
- STIP PENDLE RUSH Events: The Magpie Ecosystem was granted a significant 1.25M ARB grant from the Arbitrum STIP. In alignment with this, Penpie was allocated 500,000 ARB tokens to incentivize long-term contributors and attract more users to the Arbitrum Ecosystem. During March, Penpie strategically distributed ARB tokens through STIP PENDLE RUSH 5, 6, and 7, fostering active contribution and participation within Pendle Finance and the Arbitrum Ecosystem.
- 12.5 Million vePENDLE accumulated: Through the STIP PENDLE RUSH 5, 6, and 7, Penpie successfully exceeded a total of 12.5 million vePENDLE. This accumulation provides Penpie with enhanced voting rights and augmented yield advantages within Pendle Finance.
- $228,00 in bribes: Over the course of four epochs in March, Penpie successfully distributed over $228k in bribes to vlPNP and vePENDLE holders.
- PIP #9: As the governance and revenue-sharing token of Penpie, $PNP can be locked as vlPNP to acquire voting power within Penpie and Pendle Finance. To uphold the value of PNP and increase its scarcity, vlPNP holders voted in support of reducing PNP emissions for the mPENDLE Staking pool on Ethereum, BNB Chain, and Optimism.
- LRT Season on Penpie: The LRT landscape has gained significant traction in the DeFi space, driven by Eigenlayer’s restaking. Penpie has positioned itself as a liquidity hub for LRTs, such as Zircuit eETH, rsETH, ezETH, uniETH, and apxETH pools, among others. Liquidity providers in these pools are rewarded with boosted PENDLE emissions, Eigenlayer Points, and potential airdrops from the protocols.
Platform
- The boosted Bedrock UniETH pool launched
- The boosted Ethena USDe pool launched
- The STIP PENDLE RUSH 5 went live
- The boosted Ethena sUSDe pool launched
- The boosted Renzo ezETH pool launched
- The boosted Silo (PT — eETHSilo) sETH pool launched
- The boosted AAVE aUSDC pool launched
- The boosted AAVE aUSDT pool launched
- The boosted Spark sDAI pool launched
- The boosted Zircuit ezETH pool launched
- The STIP PENDLE RUSH 6 went live
- The STIP PENDLE RUSH 7 went live
- The Gains Network boosted gDAI pool launched
- The boosted GMX GLP pool launched
- The boosted MUX MUXLP pool launched
- The boosted Dinero apxETH pool launched
- PIP #9 went live
- The boosted Zircuit eETH pool launched
- The boosted Zircuit rsETH pool launched
Social
The past month was an extraordinary period of growth for Penpie, as we unveiled new pools and achieved significant Pendle acquisitions through the successful STIP Pendle RUSH #5, #6, and #7. This progress serves as a clear indication of our commitment to innovation and the ongoing improvement of our platform. We extend our heartfelt appreciation to every member of our community, whose invaluable contributions have been instrumental in our recent advancements. Looking ahead, we are committed to fostering effective collaboration with our community as we collectively drive innovation, elevate our platform, and create 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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