All key parameters are governed by the Penpie DAO. The Penpie team is responsible for implementing and executing the decisions made by the DAO.
Based on the Pendle mechanism, we divide the vePENDLE rewards into different sections for governance distribution.
The current governance distribution structure is as follows:
Base rewards
The distribution of base rewards is as follows:
20% is allocated to the PRT mechanism according to PIP-15
The allocation of rewards follows this order of priority:
Priority to meet the monthly PNP incentive needs.
Subsidize PRT repayment, which equals to 20% of the month's voter reward.
Remaining funds: Used for PTmPENDLE repurchase.
Voting rewards(Fee Revenue)
The allocation of voting rewards (fee revenue) is now 100% allocated to vlPNP voters, with the PRT portion subsidized by the Base Rewards stream (as outlined in PIP #19):
100% is allocated to vlPNP voters and distributed directly in USDT. (This replaces the previous 20%, 40%, and 40% split.)
Note: The 20% share of vote fee revenue previously allocated to PRT is now covered by the Base Revenue allocation.
Airdrop
PENDLE Airdrop rewards will be converted to PENDLE and distributed directly to the mPENDLE Staking Pool on Arbitrum according to PIP-18.
