Magpie Integrates Chainlink Automation

Published on: 04.01.2023
Magpie Integrates Chainlink Automation

Magpie Integrates Chainlink Automation, Magpie is built on BNB Chain to boost yields for liquidity providers and governance token holders of veTokenomics protocols.

Magpie are leveraging Chainlink Automation to help securely and cost-efficiently trigger the harvest function that claims rewards. As a result, Magpie XYZ users will benefit from more timely reward distributions. As Magpie Integrates Chainlink Automation.

They offers users the chance to boost rewards through its automated yield harvest function.

Chainlink Automation 

  • Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.
  • Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.
  • Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.
  • Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible

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About Magpie XYZ

A platform built on BNB Chain to boost yields for liquidity providers and governance token holders of veTokenomics protocols. Essentially the platform incentivizes governance token holders and liquidity providers to pool their assets together so that the platform can acquire governance tokens, convert them into veTokens, boost yield for liquidity providers, and in return, share part of the protocol revenues derived from liquidity providers’ boosted profits back to governance token holders.

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SOURCE: MEDIUM
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