Thread by @CryptoGirlNova

1) There are plenty of yield farming platforms providing passive returns in the crypto markets.

Not all of them are reputable and great however.

Here's a platform where you can get sustainable real returns on your assets 🧵 👇

2) ⭐ Overview

@magpiexyz_io is a Multi-chain DeFi platform that provides yield and veTokenomics boosting services.

Magpie pools assets together to acquire governance tokens and converts them into veTokens.

This boosts yield for liquidity providers.

3) The platform allows users to deposit their Stablecoins, BNB, Liquid BNB, frxETH, ETH, WOM, and mWOM tokens in single-sided boosted pools to earn high APR%.

The project was incubated by @WombatExchange and aims to max governance power on protocols implementing veTokenomics.

4) With veToken, users who lock up their governance tokens for longer are rewarded with higher voting weight and rewards.

The supply of governance tokens is reduced, and only holders willing to support the protocol long-term are granted governance power.

5) ⭐ Tokenomics

Magpie uses $MGP as its governance and revenue-sharing token.

#MGP can be locked as Vote-locked MGP (vlMGP) to earn yield and governance rights.

The vlMGP is a cost-effective way for Wombat voters to purchase voting power.

6) ⭐ Magpie Bribery Market

The Magpie Bribery Market enables vlMGP holders to use their voting rights & control how $WOM emissions are distributed among the pools on Wombat.

It's an innovative platform that allows users to use their Vote-Locked $MGP tokens.

7) #Magpie can also maximize the benefits of Wombat Exchange users by locking $WOM tokens and accumulating veWOM.

Magpie recently became the top veWOM holder on #Arbitrum with over +3.3 million veWOM locked.

45% of veWOM is controlled by #Magpie alone.

8) ⭐ WOMboarding event

They have done two womboarding events so far, accumulating more than 1.20 million veWOM before launching on #Arbitrum.

Participants claimed 40k USD in USDT & BUSD.

https://twitter.com/magpiexyz_io/status/1641968713212760064

9) ⭐ WOM UP Party 🔥

Convert $WOM tokens to mWOM and lock them in the "mWOM Vault" to get 100% bonus.

Choose "Lock upon convert".

50% of WOM will convert to mWOM at 1:1 ratio and remaining 50% will be used to buy back.

Locked mWOM gives 100% vlMGP bonus and more mWOM.

https://twitter.com/magpiexyz_io/status/1649670002931376128

10) #Magpie also announced the Arbitrum mWOM airdrop on April 7.

This allowed $WOM converters who participated in the #Arbitrum WOMboarding event to claim their mWOM on Magpie using the Arbitrum network.

https://twitter.com/magpiexyz_io/status/1644241340966875136

11) #Magpie their current TVL stands close to 20 million with almost halve of that on #Arbitrum.

12) ⭐ Security

#Magpie has been battle tested through several auditors and bug bounty hunters.

Including having a network of notable partners contributing to mutual success.

13) ⭐ Conclusion

Magpie is a reputable multi-chain defi platform that offers boosted yield on various assets including stables.

Its easy to use interface and lay-out makes it a solid choice.

Will you be trying it out?

Let me know 🤗

Nova out ❤️

14) I hope you've found this thread helpful.

Follow me @CryptoGirlNova for more.

Like/Retweet the first tweet below if you can:

https://twitter.com/CryptoGirlNova/status/1649796624179421184

15) Full disclaimer:

This is a paid advertisement.

Paid endorsements allow me to make my work sustainable and not having to charge anything ever for all the defi/trading guides I write.

Paid or not, none of the endorsements I accept are scams (heavy background check)