As Magpie Integration with Pendle, Magpie broadens its reach and augments the advantages it delivers to DeFi users.

Penpie: Empowering Pendle Finance

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.

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 revenue share from the platform in the form of PENDLE.

How does Penpie benefit Pendle Finance?

• Boost income for PENDLE holders — PENDLE holders have the option to convert their tokens into mPENDLE, allowing them to receive a share of the revenue generated by Penpie in the form of PENDLE.
• Expanding a diverse user base — Risk-averse liquidity providers can achieve higher yields without the need of locking PENDLE and holding vePENDLE on their own. The vePENDLE holdings of Penpie allows the platform to provide depositors with boosted passive income.
• Reducing the voting barrier — Penpie offers an affordable approach to obtaining voting rights on Pendle Finance thanks to the vePENDLE accumulated by the platform. Users can acquire PNP tokens and lock them on Penpie as vlPNP to cost-effectively control the vePENDLE accumulated by Penpie and influence the governance of Pendle finance while earning maximized revenue share with shorther lock up period.

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About Pendle Finance

A permissionless DeFi yield-trading protocol built on Ethereum & Arbitrum, that offers users the ability to manage their yield. The platform converts yield-bearing tokens into standardized yield tokens (SY) and separates them into principal tokens (PT) and yield tokens (YT). These tokens can be traded using a custom V2 AMM.

Website | Twitter

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About Magpie

Multi-chain platform built 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.

Website | Twitter

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SOURCE: MEDIUM

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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.

Website | Twitter

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About Chainlink

Chainlink is the industry-standard Web3 services platform. That has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network. Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data. And off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Website | Twitter

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SOURCE: MEDIUM

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