Magpie Presale & Liquidity Launch

October 26 update – the IFO is scheduled to take place at 12pm UTC on October 27, but the countdown on the site has it starting at 11:30am UTC. We’ve set the launch for 11:30am out of an abundance of caution.

Token presale and listing for a Wombat Exchange yield boosting protocol (Convex fork) on BSC.

DETAILS

• Presale Details
  • Presale will take place on PancakeSwap IFO launchpad, here, and lasts for 2 hours
  • Purchase currency: CAKE
  • Presale price: $0.025
  • Hard cap (public pool): $1,312,500
  • No minimum or maximum contribution – overflow method; final allocation is proportional to your share of the total contributions and any excess is refunded
  • Initial circulating market cap: $837,500
  • Vesting: 30% at TGE, 70% released block-by-block over 90 days
  • A participation fee is applied on contributions; fee ranges from 0.1 – 0.5% and is calculated based on the percentage of overflow (overflow multiplier) — fee is burnt
  • Taxes: 0%
  • Mainnet dApp is live
  • Token is scheduled to be listed on PancakeSwap at 2pm UTC, immediately after presale ends

• Mechanics & Features
  • Users benefit from boosted yield, dual rewards, and the ability to acquire Wombat Exchange voting power in a cost-effective manner
  • Deposit WOM (Wombat Exchange native token) to convert to mWOM and delegate voting power (veWOM) to Magpie to vote on Wombat Exchange proposals
  • Staked WOM is locked for 4 years
  • Stake mWOM to receive a share of the platform’s performance fees, paid in WOM
  • Stake (or migrate) Wombat Exchange tokens (e.g. LPs, stablecoins, BNB, etc.) to earn boosted WOM and bonus MGP rewards
  • Fee structure;
    • 20% performance fee on the rewards of liquidity providers
  • MGP is the governance and utility token
    • Token utility: revenue sharing, delegated voting power on Wombat Exchange

• Tokenomics
  • Token symbol: $MGP
  • Total supply: 1,000,000,000
    • 5% — Strategic sale (3 months cliff, then quarterly linear vesting over 3 years – price $0.02)
    • 7% — Public sale (PCS IFO) (30% TGE, then block vesting over 3 months)
    • 17.5% — Team & advisors (6 months cliff, then semi-annual vesting over 4 years)
    • 45% — Liquidity mining (6 months cliff, then monthly vesting over 24 months)
    • 1.1% — Liquidity (100% at TGE)
    • 2.4% — Syrup pool (linear block vesting over 4 months)
    • 9% — Ecosystem fund (weekly vesting over 3 years)
    • 10% — Community treasury (weekly vesting over 5 years)
    • 10% — Airdrop (5% at TGE, then weekly vesting over 1 year)