# Terms and Conditions

These Terms and Conditions (these “Terms”) set out the basis on which you may access and use [Penpie ](https://www.pendle.magpiexyz.io/stake)(the “Site”). The Site is a website hosted user interface provided by Penpiexyz Ltd., a company incorporated in British Virgin Islands (“Penpie”, “we” or “us”) and the Site enables users to interact with certain smart contracts deployed on the blockchain (the “Protocol”). You must read and understand these Terms in its entirety before accessing and using the Site. Each time you access or use the Site, you indicate your acceptance of these Terms. If you do not accept these Terms, you are not permitted to use the Site and must cease all activity on the Site.

THESE TERMS CONTAIN A BINDING ARBITRATION PROVISION AND CERTAIN WAIVERS. YOU SHOULD READ THESE PROVISIONS CAREFULLY AND UNDERSTAND HOW YOUR RIGHTS ARE AFFECTED BEFORE ACCEPTING THESE TERMS.

#### 1. Nature of the Site <a href="#id-1.-nature-of-the-site" id="id-1.-nature-of-the-site"></a>

THESE TERMS CONTAIN A BINDING ARBITRATION PROVISION AND CERTAIN WAIVERS. YOU SHOULD READ THESE PROVISIONS CAREFULLY AND UNDERSTAND HOW YOUR RIGHTS ARE AFFECTED BEFORE ACCEPTING THESE TERMS.

By using the Site, you understand that you are not transferring crypto assets to us and the assets are deposited directly into underlying third-party protocols. Please note that when using the Protocol, crypto assets that have been "bridged" or "wrapped" to operate on other blockchain networks (including to blockchains compatible with the Ethereum Virtual Machine that are designed to ensure a blockchain can effectively process more transactions or other blockchains that are frequently referred to as "Layer 2" solutions) are distinct from the asset on its native chain.

#### 2. Permitted Use of the Site <a href="#id-2.-permitted-use-of-the-site" id="id-2.-permitted-use-of-the-site"></a>

You agree to use the Site only for lawful purposes and in a manner consistent with all applicable laws and regulations and in the manner intended by us. By accessing or using the Site, you agree that you are solely and entirely responsible for compliance with all laws and regulations that may apply to you, as well as any tax obligations.

You shall not use the Site:

* to exploit any vulnerability of the Site, whether or not for financial or other personal gain or otherwise probe, scan, or test the vulnerability of the Site. You must not breach the security or authentication measures implemented on the Site;
* to attempt to gain unauthorized access to the Site, its servers, or any other systems or networks connected to the Site. This includes hacking, password "mining", or any other illegitimate mean;
* to introduce any malware, harmful material or otherwise unauthorized material to the Site or other users of the Site or use any automated device, program, or process (including but not limited to deep-linking, page-scraping, robots, spiders, or similar methods) to access, copy, monitor, or extract any part of the Site without prior written permission from us;
* in connection with any cyber attacks, whether against the Site or any other website;
* in a manner which involves market manipulation or financial crime or in a manner which would make the Site an accessory to any market manipulation or financial crime;
* to engage in any activity that is, or is intended to be, libelous, defamatory, profane, obscene, indecent, hateful, abusive, fraudulent or deceptive;
* to engage in any activity that seeks to reveal or obtain personal identification or information about other users or visitors to the Site, or any other customers of ours. This includes reverse look-up, tracing, or any other means to uncover such information; or
* for any activity that is otherwise prohibited by law or infringes upon the rights of others.

You agree not to take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Site. In particular, you shall not use any device, software, or routine that interferes or attempts to interfere with the proper functioning of the Site, or any transaction being conducted on the Site. Additionally, you must not interfere with or disrupt any other user’s use of the Site.

#### 3. Wallet Security <a href="#id-3.-wallet-security" id="id-3.-wallet-security"></a>

To access and use the Site, you must use a non-custodial wallet software (your “Wallet” and all the non-custodial wallet software you use, your “Wallets”), which allows you to interact with public blockchains. Your relationship with that non-custodial wallet provider is governed by the applicable terms of service with the third-party. We do not have custody or control over the contents of your wallet and have no ability to retrieve or transfer its contents.

The security of your Wallets is your sole responsibility. You are required to take appropriate measures to ensure the security and confidentiality of your Wallet, passwords, and any other authentication information. You shall not share your Wallets, or any information related to your Wallets (including your seed phrases or private keys) with any other individual or entity.

We strongly recommend that you adopt robust operational security measures to protect your Wallets, including but not limited to installing the latest software upgrades on your mobile devices, using two-factor authentication as appropriate, and regularly update your security settings. It is your responsibility to keep your Wallets secure. You understand and acknowledge that any activity conducted through your Wallets will be deemed as your own actions. You are solely responsible for any consequences arising from unauthorized use or access to your Wallets, whether through your own actions or due to your failure to implement adequate security measures. In the event of any suspected or actual unauthorized access to your Wallets, or if you believe your Wallet has been compromised, you must immediately take appropriate action to mitigate any potential risks.

We have no ability to control or reverse any transactions on the Protocol. We shall not be held responsible for any loss, damage, or unauthorized transactions resulting from any unauthorized access of your Wallet. By using the Site, you agree to assume full responsibility for the security of your Wallets, and you acknowledge that we do not condone the sharing of your Wallets (or the associated seed phrase and/or private key).

#### 4. Intellectual Property <a href="#id-4.-intellectual-property" id="id-4.-intellectual-property"></a>

We own all intellectual property and other rights in the Site and its contents, including, but not limited to, software, text, images, trademarks, service marks, copyrights, patents, designs, and its "look and feel". Subject to your compliance with these Terms and any other terms agreed with us separately, we grant you a limited, revocable, non-transferable, and non-exclusive license to access and use the Site for personal purposes only. This license does not grant you any ownership or rights to our intellectual property. All intellectual property and any other proprietary rights associated with the Site and its content are and shall remain our sole property. These Terms do not transfer any ownership or intellectual property rights to you. You shall not claim or assert any right, title, or interest in or to our intellectual property by virtue of your access and use of the Site.

You shall not modify, reproduce, distribute, display, perform, publish, create derivative works from, or exploit in any way our intellectual property without our prior written permission. We reserve the right to take legal action, including seeking damages and injunctive relief, against any individual or entity that violates our intellectual property rights or uses the Site in a manner that infringes upon our intellectual property.

No licenses or rights are granted to you by implication or estoppel with respect to our intellectual property or the intellectual property of any third party.

#### 5. Representations and Warranties <a href="#id-5.-representations-and-warranties" id="id-5.-representations-and-warranties"></a>

On each instance that you access and use the Site, you represent and warrant to us that:

* it is lawful under the laws applicable to you to access and use the Site;
* you are not accessing the Site from a country that is sanctioned by any governmental or supranational body, including but not limited to the Office of Foreign Assets Control of the United States Department of the Treasury, the United Nations Security Council, the European Union, any European Union member state and that you are not an individual subject to any sanctions by a governmental or supranational body;
* you are not a citizen, resident of, or a legal entity incorporated or organized under the laws of, the United States, Russia, Cuba, Iran, North Korea and Crimea;
* you understand and accept all risks of using the Site and crypto tokens;
* you have full understanding of the nature and risks of digital assets and blockchain networks, and voluntarily and of your own accord;
* you have knowledge and experience in all relevant matters as to be capable of evaluating the merits and risks of accessing and using the Site and conducting transactions using the Protocol;
* you have full authority and power to enter into these Terms and that your entry into these Terms does not conflict with any other legal obligation (whether under statute, contract, tort or otherwise) that is binding on you; and
* your acceptance of these Terms are legal, valid, binding and enforceable obligations of yours.

#### 6. Third-Party Websites <a href="#id-6.-third-party-websites" id="id-6.-third-party-websites"></a>

The Site may contain links or references to third-party websites that are not owned or controlled by us. These links are provided for your convenience and informational purposes only. We do not endorse, guarantee, or assume any responsibility for the accuracy, reliability, or legality of the content on these third-party websites. By accessing and using any third-party websites linked from the Site, you acknowledge and agree that you do so at your own risk. We shall not be held liable for any damages or losses arising from your use of or reliance on the content, products, or services offered by these third-party websites. We recommend that you review the terms and conditions and privacy policies of any third-party websites you visit. Your interactions with these websites are governed by their respective terms and policies, which may differ from ours. The inclusion of any third-party links on the Site does not imply endorsement or affiliation with the linked website or its operators. We disclaim any responsibility for the actions, content, or practices of any third-party websites. If you decide to access or use any third-party websites linked from the Site, you do so voluntarily and solely at your own discretion.

Please note that while we strive to provide reliable and useful links, we cannot guarantee the accuracy, safety, or reliability of third-party websites. It is your responsibility to exercise caution and make informed decisions when accessing or using any third-party websites.

#### 7. Breaches of these Terms <a href="#id-7.-breaches-of-these-terms" id="id-7.-breaches-of-these-terms"></a>

We reserve the right to take appropriate action, including but not limited to the immediate termination or suspension of your access to the Site, in the event of any violation of these Terms. If we become aware of any violation of these Terms, we may, at our discretion, investigate the matter and take necessary legal action to enforce our rights and protect the integrity of the Site. Any failure on our part to enforce these Terms shall not be considered a waiver of our right to do so in the future, nor shall it constitute a waiver of any other provision or right under these Terms.

You agree to cooperate fully in any investigation regarding a violation of these Terms. This may include providing any information or evidence necessary to resolve the matter satisfactorily. You understand and agree that we shall not be liable to you or any third party for any damages, losses, or expenses incurred as a result of our actions taken in response to a violation of these Terms.

By using the Site, you acknowledge and agree that any violation of these Terms may result in the termination or suspension of your access to the Site and may lead to legal consequences.

#### 8. Limitation of Liability <a href="#id-8.-limitation-of-liability" id="id-8.-limitation-of-liability"></a>

In no event shall we or our affiliates, directors, officers, employees, or agents be liable for any direct, indirect, incidental, special, consequential, or exemplary damages or loss, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses or other costs and expenses (including legal or other professional adviser fees) (“Losses”), arising out of or in connection with your use of the Site or the inability to access or use it.

Notwithstanding that we will not be responsible for any Losses suffered by you, if you suffer any Losses, you must take all reasonable steps to mitigate such Losses which has occurred or may occurred.

To the extent the limitations of liability are unenforceable, our maximum liability to you shall be the lowest amount permitted under the relevant applicable laws.

#### 9. Indemnity <a href="#id-9.-indemnity" id="id-9.-indemnity"></a>

You shall indemnify and keep us indemnified in full and on demand, and hold us harmless, from all claims, liabilities, direct or indirect damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) suffered or incurred by us arising out of or in connection with (1) your violation of these Terms, (2) your violation of any rights of any other person or entity, including but not limited to intellectual property rights, privacy rights or contractual rights, (3) your access to or use of any third-party websites linked from the Site, or (4) your violation of any applicable laws, regulations or third-party rights which involve the use of the Site.

We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will cooperate with us in asserting any available defenses.

You acknowledge and agree that the indemnification obligations set forth in this provision shall survive the termination or expiration of these Terms and your use of the Site.

#### 10. Circumstances Beyond Our Control <a href="#id-10.-circumstances-beyond-our-control" id="id-10.-circumstances-beyond-our-control"></a>

While we will use reasonable efforts to ensure the Site is operational to a satisfactory service level, there are events that are circumstances beyond our reasonable control which may inhibit, affect or prevent your access and use of the Site. These include, without limitation:

* disruption of the information services required to access the Site such as your Internet service provider, our servers, the blockchains on which the Protocol is deployed, etc.;
* hardware failures of our servers or your personal device or Internet service provider;
* a temporary or indefinite halt of the functionality of the Site or any blockchain on which the Protocol is deployed; and
* cyberattacks against the Site or other malicious malware used to henbit the functionality of the Site.

We will not be responsible for any Losses incurred by you as a result of any circumstances beyond our reasonable control which may inhibit, affect or prevent your access and use of the Site.

#### 11. Your Privacy <a href="#id-11.-your-privacy" id="id-11.-your-privacy"></a>

When you use the Site, we may collect information on your blockchain wallet address, completed transaction hashes, and the token names, symbols, or other blockchain identifiers of the tokens that you swap, which are all publicly available from the blockchain. When you interact with the blockchain, you are making certain information available for public viewing. We do not collect any other personal information from you. We use your publicly available information to (1) provide, maintain, customize and improve the Site, (2) protect against, investigate, and stop fraudulent, unauthorized, or illegal activity, or address security risks or issues, and (3) comply with our legal obligations.

The Site does incorporate third-party service providers, such as Infura and Google Analytics, which may receive or independently obtain your personal information from publicly available sources. We do not control how these third parties handle your data and you should review their privacy policies to understand how they collect, use, and share your personal information. In particular, please visit the privacy policies of Infura and Google to learn more about how these third parties use data. By accessing and using the Interface, you understand and consent to our data practices and our service providers' treatment of your information.

We use the publicly available information we collect to detect, prevent, and mitigate financial crime and other illicit or harmful activities on the Interface. For these purposes, we may share the publicly available information we collect with blockchain analytics providers or legal authorities as appropriate. We may share your publicly available information with these service providers only so that they can help us promote the safety, security and integrity of the Site. We do not retain the information we collect any longer than necessary for these purposes.

It is our policy to comply with all legal and regulatory requests, provided they are not invalid, overbroad, or unconstitutional requests as appropriate. However, we cannot guarantee that unauthorized third parties will never be able to obtain or use your information or aggregate data for improper purposes. You acknowledge that you provide your information and aggregate data at your own risk.

#### 12. Taxes <a href="#id-12.-taxes" id="id-12.-taxes"></a>

Your access and use of the Site may result in various tax consequences, such as income or capital gains tax, value-added tax, goods and services tax, or sales tax in certain jurisdictions. It is your responsibility to determine whether taxes apply to any transactions you initiate or receive and, if so, to report and/or remit the correct tax to the appropriate tax authority.

#### 13. No Warranties <a href="#id-13.-no-warranties" id="id-13.-no-warranties"></a>

The Site and its content are provided on an "as-is" and "as available" basis without any representations or warranties of any kind, whether express, implied, or statutory. We do not warrant that the website will be uninterrupted, error-free, secure, or free from viruses or other harmful components. To the extent permitted by the law, we disclaim all warranties, including but not limited to the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not represent or warrant that access to the Site will be continuous, uninterrupted, timely, or secure; that the information contained in the Site will be accurate, reliable, complete, or current; or that any of our products will be free from errors, defects, viruses, or other harmful elements. No advice, information, or statement that we make should be treated as creating any warranty concerning the Site.

Similarly, the Protocol is provided "as is", at your own risk, and without warranties of any kind. The Protocol is run autonomously by the smart contracts deployed on various blockchains.

#### 14. No Investment, Legal, Tax, or Other Advice <a href="#id-14.-no-investment-legal-tax-or-other-advice" id="id-14.-no-investment-legal-tax-or-other-advice"></a>

The information provided on the Site and any of the social media accounts under the control of us or any individuals directly affiliated with us, including but not limited to articles, guides, and other content, is for informational purposes only. It does not constitute financial, investment, legal, tax, or any other professional advice. We do not provide any personalized recommendations or advice regarding the suitability, profitability, or legality of any investment, financial strategy, or transaction. Any decision to engage in transactions on the Site is solely at your own risk and discretion. You should consult with appropriate professionals, such as financial advisors, lawyers, or tax advisors, to obtain specific advice tailored to your individual circumstances before making any transactions on the Site. Your access and use of the Site does not establish a client, advisory, or fiduciary relationship between you and us.

We make no representations or warranties regarding the accuracy, completeness, or timeliness of the information provided on our Site. We shall not be held liable by any person for any errors or omissions in the content or for any actions taken in, or any losses, damages, or liabilities arising from, reliance of the information provided. You bear full responsibility for evaluating the accuracy, completeness, and usefulness of any information or content provided on the Site and for seeking professional advice as necessary.

By using the Site, you acknowledge and agree that we do not provide any investment, legal, tax, or other professional advice. You should seek appropriate advice from qualified professionals before making any financial or investment decisions. We shall not be held responsible for any consequences resulting from your reliance on the information provided on the Site.

#### 15. Reservation of Rights <a href="#id-15.-reservation-of-rights" id="id-15.-reservation-of-rights"></a>

We reserve the right to take appropriate legal action, including but not limited to seeking damages, injunctions, or any other remedies available under applicable law, to address any violation of these Terms. We reserve the right to prohibit or block any activity on the Site that violates these Terms, including but not limited to the use of automated devices, unauthorized access attempts, or probing, scanning, or testing the vulnerability of the Site.

#### 16. Assumption of Risk <a href="#id-16.-assumption-of-risk" id="id-16.-assumption-of-risk"></a>

You acknowledge and agree that the access or use of the Site and any involvement with crypto assets carry inherent risks. These risks include, but are not limited to, market volatility, potential loss of investment, regulatory changes, technological vulnerabilities, and cybersecurity risks which are beyond our control. We shall not be held liable for any losses, damages, or liabilities arising from your use of crypto assets or any transactions related to crypto assets conducted through the Site.

You understand and accept that the value of crypto assets can fluctuate significantly, and there is no guarantee of profit or protection against losses. The decision to engage in transactions involving crypto assets is solely your responsibility, and you bear all risks associated with such transactions.

You are solely responsible for conducting your own research, understanding the risks involved, and making informed decisions regarding the use, purchase, sale, or holding of crypto assets. You should consult with appropriate professionals before making any financial or investment decisions.

It is your responsibility to ensure compliance with applicable laws, regulations, and tax obligations related to the use and ownership of crypto assets in your jurisdiction.

We recommend implementing appropriate security measures, including but not limited to secure storage, strong passwords, and two-factor authentication, to protect your crypto assets and associated information.

You acknowledge that the blockchain technology underlying crypto assets is subject to its own risks and limitations, including but not limited to network congestion, technological failures, and delays in transaction confirmation. We shall not be responsible for any losses or damages arising from such risks and limitations.

By using the Site and engaging with crypto assets, you acknowledge and assume all risks associated with crypto assets, including any not described above (which is a non-exhaustive coverage of all relevant risks). You agree to release us from any liability and hold us harmless from any Losses incurred in connection with the use of crypto assets.

#### 17. Miscellaneous <a href="#id-17.-miscellaneous" id="id-17.-miscellaneous"></a>

We reserve the right to modify, suspend, or terminate the Site or any part thereof, at any time without prior notice. We shall not be liable to you or any third party for any such modification, suspension, or termination. In addition, we may update these Terms from time to time in our sole discretion and without any prior notice to you. It is your responsibility to check the Site for the latest version of these Terms. The most recent date of update will clearly indicated in these Terms.

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.

These Terms contain the whole agreement between you and us relating to your access and use of the Site. You agree and acknowledge that you are not agreeing to these Terms in reliance of any representation, warranty or undertaking made by us.

These Terms shall be governed by and construed in accordance with the laws of Singapore, without regard to its conflict of laws principles. Any dispute, controversy, difference or claim arising out of or relating to this contract, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it (“Dispute”) shall be referred to and finally resolved by arbitration administered by an arbitral institution determined by us under arbitral rules determined by us. The seat of arbitration shall be Singapore and there shall be a single arbitrator appointed by us.

You and us explicitly waive any right to have a Dispute heard by jury trial and any Dispute you bring must be brought in your individual capacity and not as a plaintiff in or member of any purported class action, collective action, private attorney general action, or other representative proceedings. In the event that any immunities apply to you, you agree to waive such immunities.


# Penpie Overview

Penpie Overview

<figure><img src="/files/F8dExUb7tzdogSqnsVHY" alt=""><figcaption></figcaption></figure>

## What is Penpie?

Penpie is a next-generation DeFi platform designed to help Pendle Finance users maximize yield and leverage veTokenomics. Fully integrated with Pendle Finance, Penpie locks PENDLE tokens to secure governance rights and enhanced yield benefits, empowering users to optimize rewards for their participation and monetize their governance power.

Users can deposit assets on Penpie to earn maximized APR, while PNP holders — Penpie’s governance token — gain cost-effective voting power and active engagement rewards. For PENDLE holders, Penpie offers the ability to convert PENDLE into mPENDLE at a 1:1 ratio. This conversion locks PENDLE as vePENDLE within Pendle Finance, boosting yields for holders while granting Penpie governance influence and increased platform rewards.

By aggregating vePENDLE, Penpie delivers sustainable, boosted yields to liquidity providers and efficient governance access to voters. Additionally, Penpie features auto-compounding pools that allow liquidity providers to wrap their LP tokens into a version that automatically reinvests rewards, steadily increasing the value of their position over time.


# Penpie Ecosystem

Understanding Penpie

The Penpie ecosystem enhances the Pendle Finance landscape, creating a seamless environment where yield, governance, and liquidity work together. It simplifies access to advanced DeFi strategies, empowering users to grow, engage, and participate with greater efficiency.


# Introduction

Penpie is a multi-chain DeFi product providing Yield & veTokenomics boosting services for Pendle Finance

## Penpie

Penpie is a DeFi platform providing Yield enhancement services for Pendle users, built by Magpie upon the foundation of Pendle Finance.&#x20;

## Pendle Finance

Pendle Finance is a permissionless DeFi yield-trading protocol that offers users the ability to manage their yield.  The platform implements the veToken model for its governance token PENDLE. PENDLE holders can lock their tokens as vePENDLE on Pendle Finance to own governance rights, get active user engagement rewards and earn boosted APR% as liquidity providers in the protocol. In order to get the most benefits of vePENDLE, users must lock their PENDLE for 2 years.

## How does Pendle Finance work?

Pendle 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. This integration brings the traditional finance interest derivative market, valued at over $400 trillion in notional value, into the DeFi space, making it accessible to everyone. PTs act like zero-coupon bonds, while YTs resemble coupon payments. Pendle unlocks the full potential of yield in DeFi by allowing users to execute advanced yield strategies, such as purchasing assets at a discount, securing fixed yield for low-risk, stable growth, going long on yield, or employing a mix of these strategies.

## Penpie: Empowering Pendle Finance

Penpie brings a solution that supports Pendle Finance to maximize its long-term value. The protocol enables PENDLE holders to earn rewards for their active user engagement, provides Pendle Finance voters with cost-effective voting power, and allows liquidity providers to gain increased APR% without needing to lock PENDLE tokens as vePENDLE.

* **For PENDLE holders:** Penpie offers the opportunity to earn substantial yields by converting governance tokens (PENDLE) into **mPENDLE**. Users can stake mPENDLE via Penpie to earn enhanced active user engagement rewards on the platform. When users convert their PENDLE into mPENDLE, Penpie automatically locks the converted PENDLE as vePENDLE within Pendle Finance. This mechanism enables PENDLE holders to earn greater rewards through mPENDLE while granting Penpie governance rights and increased APR% as a liquidity provider.
* **For liquidity providers:** Thanks to Penpie’s vePENDLE holdings, liquidity providers can deposit their assets on the platform and earn boosted PENDLE without having to lock any PENDLE as vePENDLE themselves, with the option to use auto-compounding pools that automatically reinvest rewards to grow their positions over time.
* **For governance participants:** The voting power accumulated by Penpie through its vePENDLE holdings is shared among **vlPNP** holders, allowing them to participate in Pendle Finance governance cost-effectively. **PNP** is the governance token of Penpie and can be locked as vlPNP to access its benefits. Vote-locked PNP holders can earn active user engagement rewards and influence Pendle Finance’s governance efficiently while maximizing rewards. Users must wait 60 days for their locked PNP to be fully unlocked.


# Pendle Finance

Understanding Pendle Finance

<figure><img src="/files/q4CJE0lTxmHZQCMBjDsV" alt=""><figcaption></figcaption></figure>

### What is Pendle Finance?

Pendle Finance is a permissionless DeFi yield-trading protocol, currently built on Ethereum, Arbitrum & BNB Chain where users can execute various yield management strategies.

### What is PENDLE?

PENDLE is the governance token of Pendle Finance.

### What is vePENDLE?

vePENDLE represents the locked version of PENDLE tokens. By locking their tokens as vePENDLE on Pendle Finance, PENDLE holders can access advantages within the platform. Pendle Finance offers a variety of staking durations, from as short as 7 days to as long as 2 years. Longer staking periods yield greater benefits, and holding more vePENDLE results in increased advantages.

### What are the benefits of holding vePENDLE?

* Yield Boosting: One of vePENDLE's main utilities is to enable its holders to earn boosted yields for their active participation when providing liquidity on Pendle Finance. The boosted emissions are proportional to the staking period duration and the amount of PENDLE staked by users.
* Voting Rights: vePENDLE is fundamental for Pendle Finance's governance system. vePENDLE holders can vote to allocate PENDLE emissions across different Pendle Finance pools. The voting weight is proportional to the staking period and the amount of PENDLE locked by users. More time staked, more voting weight.
* Voting Incentives: vePENDLE holders have the potential to earn voting incentives from Pendle Finance partners. Different protocols might compensate users for providing voting support to their pools.
* Active user engagement rewards: Holding vePENDLE on Pendle allows users to earn a part of the 3% fee charged on all yield generated by Yield Token (YT) holders. Additionally, vePENDLE holders can earn a portion of the yield generated by matured unredeemed PTs, providing an additional source of rewards for active user engagement.

### How can Penpie support Pendle Finance?

Penpie has identified several areas where it can help provide a more efficient DeFi experience for users while supporting Pendle Finance's long-term development at the same time.

* Liquidity providers cannot earn boosted yields for their active participation without locking PENDLE tokens.
* Voters cannot earn considerable rewards for their active participation while their PENDLE tokens are locked.
* PENDLE holders cannot earn rewards for their active participation without a required lock up.


# LayerZero Bridge

Omnichain Penpie

Penpie has successfully implemented the groundbreaking technology of LayerZero.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*LK8QaGPPVByAN_Mc" alt="" height="395" width="700"><figcaption><p>Layer Zero | Penpie</p></figcaption></figure>

## **Layer Zero** <a href="#id-9705" id="id-9705"></a>

LayerZero is an omnichain interoperability protocol designed for efficient message transmission across different blockchains. It offers reliable and guaranteed message delivery with adjustable levels of trustlessness. [Layer Zero](https://layerzero.network/) is pioneering new applications in the DeFi sector, including trading, borrowing, and lending across various blockchains, leading to more streamlined markets. Also, gaming and media dApps can execute high-volume transactions on a single blockchain, while also having the capability to transfer, purchase, and sell NFTs on other blockchains with the most liquid markets.

## **OFT** <a href="#id-385b" id="id-385b"></a>

Penpie has adopted the Omnichain Fungible Token (OFT) standard from Layer Zero Labs, which brings a significant advantage for interoperability across blockchains. OFT is an extensible token contract, paving the way for external composition of tokens across a wide array of dApps, irrespective of the DeFi ecosystem they belong to. By adopting OFT tokens, a unified standard for all protocols and blockchains can be achieved. This seamless integration enables users to effortlessly swap across chains and utilize the tokens on any dApp on any chain.

## **What does this mean for Penpie’s tokens?** <a href="#id-1520" id="id-1520"></a>

Both PNP and mPENDLE tokens use the OFT-20 standard. This standard facilitates their smooth transfer between Ethereum, Arbitrum, BNB Chain and Optimism offering users the flexibility to engage with Penpie on their preferred network. With the implementation of OFT V2, PNP and mPENDLE tokens could also be transferred with ease to non-EVM blockchains in the future.


# How to use

Learn how to use Penpie

This section provides a step-by-step guide to using Penpie’s core features—such as token conversion, staking, and voting—to help you become familiar with the overall platform workflow.


# General


# Provide Liquidity

How to provide liquidity on Penpie

## **Step 1:** Visit Penpie and connect your web3 wallet :&#x20;

<https://www.pendle.magpiexyz.io/stake>&#x20;

<figure><img src="https://lh7-us.googleusercontent.com/LQnWrnDrA_2_LTunc3M4-aG-WySvQVHO2x6odBaMllCHdVCSSwl2oFAoZzrddjijyep1QjGVCFn3os2DzvfXKE6W4Ws8VCCBYuCdI0NB3Dny2jmN9BRvO-6uchy9HyGmmKGKG94jyrJpmbqITVhfAM0" alt=""><figcaption><p><a href="https://www.pendle.magpiexyz.io/stake">Enter Penpie</a></p></figcaption></figure>

<figure><img src="https://lh7-us.googleusercontent.com/GAO-O45RZSENnv3WIluz8ogU9o4PBEutweYrsmtun0Z5fpIe9aqESIAMRxRX09GGdML6OHxomvx7f7QPOODym6wXHvBr23ShfugI5L2jdtPZWgArzIvxRT3ra2-U4RlryfOJr3ER2S8gQJHhdsDAS3w" alt=""><figcaption><p>Select a liquidity pool</p></figcaption></figure>

## **Step 3:** Click on the 'Get LP' hyperlink to acquire LP tokens.

<figure><img src="https://lh7-us.googleusercontent.com/RdE9D0LXce4SgQUJfIw3NTtqImhdRGPdoqUcv-VZZthq0ZtT86n3Wtpg6f4g0w-b-2zE9qu6iS8YiU4GuQ7_jNp6Hq2T687LnljSgREIgpNZalfQz5RBZE-_HG7F27OCkCeihW_60n4rrTLxEYic3gA" alt=""><figcaption><p>Get wstETH LP</p></figcaption></figure>

## **Step 4:** The link will direct you to the Pendle Finance dApp. Connect your wallet on Pendle Finance to proceed.

<figure><img src="https://lh7-us.googleusercontent.com/wLXLjGqguq3wBiTotTfauE8kzLi6ttRDQPxSToKOgp-nAJJDTvTB5BtuCX5MjfElqggZHZhMzZYhlG8WP6rv2JvtiqUWBbAcblI-UvTpZAuycev51N8EjkWYTZ4UmyC_as4FqdCmjLsZxvgxN_2AJCA" alt=""><figcaption><p>Connect to Pendle Finance</p></figcaption></figure>

## **Step 5:** If you don't have the specific asset, select the asset in the input section before initiating the zap process.

<figure><img src="https://lh7-us.googleusercontent.com/rcDBDx8RwBPrRt3XyptFdmxq19R6fgEsHXgy95rD5gv_1JBMok-Twb7qc4qzqh4gWGgad4U_fdZVsmrFzBQLXyK707TSqmWug-fHghpSugurzcI6tMKkmVqpabXirc6mdkwS5nPunG3orMIKIK1o8VM" alt=""><figcaption><p>Select Asset</p></figcaption></figure>

## **Step 6:** A pop-up page will appear for asset selection. Choose your available asset from the options provided.

<figure><img src="https://lh7-us.googleusercontent.com/w3XBvXuo_cvUxxt2NNVQf4z7imccKnqkJlMqfhOr47rWdWYLu1tF7OxlsdltDlN_yr3vTOMShu31QIlFI_hTBwLc_u3jlSr-ddXslgSWDGr3Rar0iaDoEGGmXTTbyaAMFSNKjC8cI9bVXiLpuuHI6sw" alt=""><figcaption><p>Choose your available asset</p></figcaption></figure>

## **Step 7:** Turn on 'Zero Price Impact Mode' in the Zap in section, and we're all set for the zap!

<figure><img src="https://lh7-us.googleusercontent.com/YiYyDO_yXdA7QwzTz_6TI6CZO4nVBYN3MzMF2dRKOdGiB-1SILtMBr1tS9gS0uTkhFYGZWA5I2diTF5_bRBmBnG8JVVdgJxzHYndjUxbPsO4nvo4IjGCFqVN-V7HSOWUkfsCcHa6JWUoXGDP9yn9cX0" alt=""><figcaption><p>Turn on "Zero Price impace Mode"</p></figcaption></figure>

## **Step 8:** Enter the desired amount.

<figure><img src="https://lh7-us.googleusercontent.com/1WnFF5sZAjqdtsOznywPR_5w51P7WPD8yGN_l6FZuSfbpPr4WVvi8uA_dpdVnmVSQuRDt0FcdkZIxKmN70MbI9L4K7qTt0DLoSgXDMqFzYbDqWmxd9v2G0jp7izvXlemAZ06DIXuP9mZCpBnlOBhE58" alt=""><figcaption><p>Input your Amount</p></figcaption></figure>

## **Step 9:** Scroll down, click on 'Zap In' and approve the transaction on your wallet.

<figure><img src="https://lh7-us.googleusercontent.com/AeagxRgkJsY1nd5n5FetHU5QuTLJwpUA3ijErCdoFDq9yk00_sdd7cZpBTpEyBAEYcRSOPdq1d5uTJfo_IhnYuNiaPDFsMGnGANIHiox_0sJozEjWTS-LBZJUwVaOWhoUvR5dK-sYI62P_X9xhcZjxA" alt=""><figcaption><p>Zap In</p></figcaption></figure>

## **Step 10 :** You now have the LP tokens in your wallet! Return to the Penpie dApp, refresh the page, and enter the amount you wish to deposit.

<figure><img src="https://lh7-us.googleusercontent.com/P_hQE3i_6cFwm-etSBHJS3gmGiG2Yw5oUin1zkM4tamsYBPJ_5SpB0upKIENxXxK118Igd7yDP5c5xOZLGYWJCKh0Xavo_Qiu6N1Qkx6XA2rmyYrNAIRqzxmWxhaplJOdui37dLxecCHKGjQNJ2Tim8" alt=""><figcaption><p>Approve your LP tokens on Penpie</p></figcaption></figure>

## **Step 11:** Click on 'Approve'’ to approve the transaction on your wallet, then click on 'Deposit', to confirm the transaction on your wallet, and you're done! Congratulations on successfully depositing your assets on Penpie!

<figure><img src="https://lh7-us.googleusercontent.com/icAPxPlx4asrJNIQIniMgmDaRk2sFKgCk4vSRA23bvuW2W3LNPApkaGOHiULr859FY0duvXgfDNG7JXqghnq-e_Gqdjq2dh8OgDiLJkFp3SOI1VPKKnIGr9V2cM9mSYpoYbzHz3AIiD7pc34wA3QaKw" alt=""><figcaption><p>Deposit your LP tokens on Penpie</p></figcaption></figure>

## **Step 12:** Depositors can check their total deposited assets and total claimable rewards on the top section of Penpie's "Stake" page.

<figure><img src="https://lh7-us.googleusercontent.com/S_KJeE1NXN7S23pGlhT6GL_inyRxhD-VIyPq42dd9_TsRWBHSwB2jlcBJoEWdF5cxH7NIjM3_oZkusdimEN3BTc3uCowDEvTG-Svk7SZl1FJXH6iHwnteSz882cBfaJJGwTzrsN679r4b01-iGMZqn4" alt=""><figcaption><p>Check information about your deposits and rewards</p></figcaption></figure>


# Claim Active Engagement Rewards

Rewards claiming guide on Penpie.

**1. To claim the accumulated rewards click "Claim" section.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/d6dfbafe-1d24-4639-8877-8a37c9297551/ascreenshot.jpeg?tl_px=0,0\&br_px=1719,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=251,4)

**2. Users can see all of their deposits and accumulated rewards for each pool and claim each one of them separately or claim all in one click.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/42e3ba57-7a69-4336-bcb3-d1f830099929/ascreenshot.jpeg?tl_px=0,204\&br_px=2293,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=156,153)

**3. Users can click on each pool to see details about that pool.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/0d679cd4-e9a0-4e35-9e8e-11d8c81802f5/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2293,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=172,113)

Once users have enough balance to claim; the "claim" button will be activated and users will be able to claim accumulated balance.

**1. Navigate to <https://www.pendle.magpiexyz.io/stake>**

**2. Click "CONNECT WALLET"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/bd35f1a4-f910-4ab0-823f-8b66d83b1351/ascreenshot.jpeg?tl_px=680,0\&br_px=2400,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=444,5)

**3. Select your wallet.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/74c66cda-67af-44ef-a254-147e2ea07f8c/ascreenshot.jpeg?tl_px=516,0\&br_px=2236,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,35)

**4. Click on the vlPNP pool.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/c54c21fe-890c-427f-9757-d231ac1367ab/ascreenshot.jpeg?tl_px=46,243\&br_px=1765,1204\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,138)

**5. Input PNP amount to lock.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/de05d10e-55c1-4fa7-a08d-feac3e0e5d7e/ascreenshot.jpeg?tl_px=624,333\&br_px=2344,1294\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,138)

**6. Users who don't want to approve before every action may select "Approve Infinity" option.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/625e9461-f063-49f6-99bc-71e10ad42ba6/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2047,948\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=276,182)

**7. Click "Approve"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/7539fb01-dc33-4c51-8f29-f26b54aff321/user_cropped_screenshot.jpeg?tl_px=406,8\&br_px=2126,970\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=292,225)

**8. Click "Lock"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/81c64e04-7d71-47d2-9b19-07a37bc04479/ascreenshot.jpeg?tl_px=106,204\&br_px=2400,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=436,187)

**9. Once the Transaction approved on blockchain, the locked PNP amount will appear on vlPNP section.**


# Bridge

Bridge between Arbitrum and Ethereum.

## Bridge mPENDLE & PNP

mPENDLE & PNP is an OFT-20 token. Thanks to Layer Zero's technology, mPENDLE can be easily moved across Arbitrum and Ethereum.

## How to Bridge mPENDLE & PNP from Arbitrum to Ethereum using the mPendle Cross-Chain Bridge

[**Made by Tool Magpie with Scribe**](https://scribehow.com/shared/How_to_Bridge_mPENDLE_from_Arbitrum_to_Ethereum_using_the_mPendle_Cross-Chain_Bridge__4zTQs61RSo6obUNxdN_rjw)

Note: The process of transferring across chains could require up to 10 minutes for completion.

**1. Navigate to <https://www.pendle.magpiexyz.io/bridge>**

**2. Click "CONNECT WALLET"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/2021307b-8194-4c5a-820a-a59f327a5810/ascreenshot.jpeg?tl_px=1386,0\&br_px=2879,840\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=410,18)

**3. Click on your wallet.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/82d1c7ae-e5d4-4af3-987c-03c423ea03a4/ascreenshot.jpeg?tl_px=741,0\&br_px=2234,840\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,67)

**4. Click on the drop-down.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/37c1de97-e688-4c6d-99b6-884541675659/ascreenshot.jpeg?tl_px=1386,0\&br_px=2879,840\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=280,12)

**5. Click "Arbitrum"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/e3afef64-318a-40f5-b0e3-572c8660919c/ascreenshot.jpeg?tl_px=1386,0\&br_px=2879,840\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=276,77)

**6. Click the "0.0" field.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/8d6f6867-2227-410b-9bbe-20d7f6b1831d/ascreenshot.jpeg?tl_px=767,106\&br_px=2260,946\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,139)

**7. Enter the amount of mPendle you want to bridge.**

**8. Click "Bridge mPENDLE"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/537a7ed8-71c3-46d6-a8d8-f524c593e458/ascreenshot.jpeg?tl_px=1119,580\&br_px=2612,1420\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,139)

**9. Approve the transaction in your wallet.**

**10. You have successfully bridged your mPendle to Ethereum. Note: The process of transferring across chains could require up to 10 minutes for completion.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/b8c0e534-cca0-44ea-97f0-c500fb36728f/ascreenshot.jpeg?tl_px=1386,0\&br_px=2879,840\&force_format=png\&width=560\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=506,64)

**Note:** In order to use the bridge users must pay gas fees. Users need to hold ETH or BNB in their wallet in order to confirm the transactions.


# mPENDLE


# Convert PENDLE into mPENDLE

How to convert PENDLE to mPENDLE

## **Convert PEDNLE into mPENDLE and Staking mPENDLE**

**1. Navigate to <https://www.pendle.magpiexyz.io/stake>**

**2. Click "CONNECT WALLET"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/bd35f1a4-f910-4ab0-823f-8b66d83b1351/ascreenshot.jpeg?tl_px=680,0\&br_px=2400,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=444,5)

**3. Select your wallet.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/74c66cda-67af-44ef-a254-147e2ea07f8c/ascreenshot.jpeg?tl_px=516,0\&br_px=2236,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,35)

**4. Click mPENDLE staking to conversion of PENDLE to mPENDLE or staking - unstaking of mPENDLE tokens.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/9c061f83-f4e7-4abc-9073-a3e9d6176b8e/user_cropped_screenshot.jpeg?tl_px=0,73\&br_px=2293,1355\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=239,157)

**5. Enter the desired PENDLE amount for mPENDLE OR Click "MAX" to conversion of total PENDLE balance.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/c44f4074-9baa-4a38-8458-5c23f40c9fa5/user_cropped_screenshot.jpeg?tl_px=102,0\&br_px=2396,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=447,103)

**6. Select "Approve infinity" to not approve before every action.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/32f76d25-9635-4092-b8be-c0a8bc00a2a7/ascreenshot.jpeg?tl_px=97,204\&br_px=2390,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,201)

**7. Click "Approve"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/6cbe5d78-37a9-4c37-bed9-2d57f9bacee5/ascreenshot.jpeg?tl_px=106,204\&br_px=2400,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=318,151)

**8. Click "Smart Convert & Stake" to complete the action. ( Note: Smart Convert bonus amount can be seen on under the conversion box.)**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/08d95909-9f71-442b-8fd1-4568b50dbd60/ascreenshot.jpeg?tl_px=106,204\&br_px=2400,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=451,149)

**9. Once Conversion and Staking completed, users can see their mPENDLE balance on the "Your Deposits" section on the mPENDLE Staking pool.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/6bb52d2c-93c8-496a-a6f7-3ef6d5ef25cd/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2293,514\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=136,24)


# Unstake mPENDLE

## Unstake mPENDLE

**1. Navigate to <https://www.pendle.magpiexyz.io/stake>**

**2. Click "CONNECT WALLET"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/991679c8-ca99-4497-ba53-87f27d507576/File.jpeg?tl_px=1160,0\&br_px=2880,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=428,11)

**3. Click on your wallet**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/871703ef-c42f-42e6-b4bd-a934382f4d7c/File.jpeg?tl_px=600,0\&br_px=2320,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,58)

**4. Click on drop-down to choose your network**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/7a417023-0de7-4b44-95e5-7523117255c3/File.jpeg?tl_px=1160,0\&br_px=2880,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=325,11)

**5. Click "Arbitrum"(Using Arbitrum for demonstration purposes)**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/89d3b389-5706-4419-aa66-7c51f7e40f49/File.jpeg?tl_px=1160,0\&br_px=2880,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=300,60)

**6. Click "Unstake"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/123dc5f4-0396-46ac-ada0-0396669427b0/File.jpeg?tl_px=1160,57\&br_px=2880,1018\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=275,138)

**7. Click the "0.0" field.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/672714c1-40f0-450a-a075-c89e6538296b/File.jpeg?tl_px=796,269\&br_px=2516,1230\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=261,138)

**8. Enter the amount of mPENDLE you would like to withdraw.**

**9. Click "Unstake"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/de41ae3f-5436-402e-bcc1-89651a878096/File.jpeg?tl_px=813,423\&br_px=2533,1384\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,138)

**10. Approve the transaction in your wallet.**

**11. You have successfully withdrawn your mPENDLE.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-06-27/b2b9f4a7-09eb-4a70-bc6e-2c5c9639bd5b/File.jpeg?tl_px=1160,0\&br_px=2880,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=506,52)


# PNP


# Lock PNP & Unlock

How to Lock - Unlock PNP

## **Locking PNP**

**1. Navigate to <https://www.pendle.magpiexyz.io/stake>**

**2. Click "CONNECT WALLET"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/bd35f1a4-f910-4ab0-823f-8b66d83b1351/ascreenshot.jpeg?tl_px=680,0\&br_px=2400,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=444,5)

**3. Select your wallet.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/74c66cda-67af-44ef-a254-147e2ea07f8c/ascreenshot.jpeg?tl_px=516,0\&br_px=2236,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,35)

**4. Click on vlPNP section.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/c54c21fe-890c-427f-9757-d231ac1367ab/ascreenshot.jpeg?tl_px=46,243\&br_px=1765,1204\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,138)

**5. Enter PNP amount to lock.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/de05d10e-55c1-4fa7-a08d-feac3e0e5d7e/ascreenshot.jpeg?tl_px=624,333\&br_px=2344,1294\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,138)

**6. Users who don't want to approve before every action may select "Approve Infinity" option.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/625e9461-f063-49f6-99bc-71e10ad42ba6/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2047,948\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=276,182)

**7. Click "Approve"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/7539fb01-dc33-4c51-8f29-f26b54aff321/user_cropped_screenshot.jpeg?tl_px=406,8\&br_px=2126,970\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=292,225)

**8. Click "Lock"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/81c64e04-7d71-47d2-9b19-07a37bc04479/ascreenshot.jpeg?tl_px=106,204\&br_px=2400,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=436,187)

**9. Once the transaction is approved on blockchain, the locked PNP amount will appear on the vlPNP pool.**

## **Unlocking PNP**

## Unlocking MAX Staked Tokens on Pendle Platform

[**Made by Tool Magpie with Scribe**](https://scribehow.com/shared/Unlocking_MAX_Staked_Tokens_on_Pendle_Platform__IEGaLYbyRbeNisbVs7QuFA)

**1. Navigate to <https://www.pendle.magpiexyz.io/stake>**

**2. Click on the vlPNP pool.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/ef6a0f67-225f-4339-a2cf-3bbe81f3bbf8/ascreenshot.jpeg?tl_px=54,65\&br_px=1774,1026\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,138)

**3. Click on Unlock section and select "MAX" or desired amount of PNP**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/3bb0a27d-ca43-44c9-9d3e-a36c39e81b11/ascreenshot.jpeg?tl_px=680,524\&br_px=2400,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=415,140)

**4. Click "Start Unlock"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/0180a3bb-60a3-404b-bdd1-707b75e33a6a/ascreenshot.jpeg?tl_px=680,524\&br_px=2400,1486\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=355,185)

Once the transaction approved on blockchain, 60 days cooldown period will start and users might choose to "Force - Unlock" if they are willing to pay penalty.


# The Penpie Voting Market

Guide

**1. Navigate to <https://www.pendle.magpiexyz.io/stake>**

**2. Click "CONNECT WALLET"**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/bd35f1a4-f910-4ab0-823f-8b66d83b1351/ascreenshot.jpeg?tl_px=680,0\&br_px=2400,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=444,5)

**3. Select your wallet.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/74c66cda-67af-44ef-a254-147e2ea07f8c/ascreenshot.jpeg?tl_px=516,0\&br_px=2236,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,35)

**4. Click "Voting" to reach Voting Market use voting power.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/18ed5416-aa30-41bc-aa2b-eaee7b86a44e/ascreenshot.jpeg?tl_px=124,0\&br_px=1843,961\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=262,11)

**5. Double-click "Voter APR" to list voting APR in decreasing order.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/c964958f-a999-4a49-814b-29747d6706cf/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2293,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=155,70)

**6. Select the pool you want to vote, input voting power or Click "MAX" to use all of remained voting power.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/856fa0cf-66e8-4235-b978-f0a48eaf4432/user_cropped_screenshot.jpeg?tl_px=106,0\&br_px=2400,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=484,101)

**7. Once voting amount selected, a pop up will appear. Check voting amount and click "Update Votes" to complete voting action after approving the tx in the wallet.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/9adfcca4-5a0a-40a3-864c-f14412b6ff98/user_cropped_screenshot.jpeg?tl_px=730,303\&br_px=3024,1585\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=373,275)

**8. Click "My votes" box to see only the pools you voted.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/25838574-c644-4888-9da6-f75501b79a6d/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2293,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=35,27)

**9. Click on the pool that you voted top see detailed stats about this pool on Voting Market.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/ce14cd70-8d98-4a37-b4ff-f5682fd83950/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2293,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=239,89)

**10. Scroll up up to see detailed Voting Market stats on the graphs.**

![](https://ajeuwbhvhr.cloudimg.io/colony-recorder.s3.amazonaws.com/files/2023-07-30/1bdd3129-826c-4a19-9f1f-2e844f3c4b43/user_cropped_screenshot.jpeg?tl_px=0,0\&br_px=2062,1281\&force_format=png\&width=560.0\&wat_scale=50\&wat=1\&wat_opacity=0.7\&wat_gravity=northwest\&wat_url=https://colony-recorder.s3.us-west-1.amazonaws.com/images/watermarks/FB923C_standard.png\&wat_pad=167,3)


# Agency


# Add Voting Incentives

Incentivize voters through the Penpie Voting Market

How to deposit voting incentives on Penpie

1. **Enter Penpie:** <https://www.pendle.magpiexyz.io/stake>
2. **Click on "Vote" Tab:**<br>

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXex66zALVoKLGTi0Zm36wg7ZoSWQY4GViygY1cQnsJKQ5rfzpij35iJyGoUaFemAyn8wFb6mTg_pnq0opx3fvG3wrKt3DS1Rmc61Hl5WHz5OVZ3l4LX-InpKcsC7-fjSb32hTaX6ZdrGYnv9e4KKzbw6wTi?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

3. **Click "Add Voting Incentive" tab:**

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeg9m7U0TMhyeithdNKdIS9cRkYOiD1yzhMkpW4GgZXHqg-KHqFgI02eMq5tc4bvjaUJ5-RzOe7haoirV9SBXmFhsLUb0334aSIbLiHsGz03UPV7f-NMQKLwPLvB1LX6tfkaN2czKcS16SDj2Q83CQPQDc?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

4. **Scroll down, find the pool and click to "Add Incentives" box:**&#x20;

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfMhmx7V6Vb4LxeJbAkkh5n4Uy3GNEAryX4x4qpgCSdEtllp3UuY_VJ3ACw4Za1RTryAapC68B8arjxuNaTV5YrjaA9wRxopDqW_KTPFBumEaAnLUhdjJUX9t8mwFECmNBKBRYfUixlR0Pafg8bHvDZ0jk?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

5. **A pop up will appear as shown:**

<figure><img src="/files/hcP5hK28MBaSCyY9ktut" alt=""><figcaption></figcaption></figure>

6. **Click on the "Reward token" box and select the token that will be used as the voting incentive:**

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeT0peNRhmaxoq9QdIg6gN9tKQtBCSv2uWfxe-0aGAaq9ZkyIp8SzdmgZfqWdd6hT80JOnxIWtKLZz6Jw6gjFAIiu9O1Vimy3-ApEjXEo0V8d_r7qQUnlWx5P_5WL4yHs7gEvrfVzXIBJZFah0uLk11zMk?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

7. **Enter the voting incentive amount by clicking on the "Voting incentives to add" box:**

<figure><img src="/files/zf79SdyGObXyxnoHugrV" alt=""><figcaption></figcaption></figure>

8. **Select your desired Starting Epoch.**\
   Current epoch refers to the epoch in which voting is currently ongoing.

<figure><img src="/files/40eZgL95HHdlmdRC3QJ3" alt=""><figcaption></figcaption></figure>

9. **If the selected voting incentive will be divided into multiple epochs, please enter the number of epochs as shown below. If the voting incentive will be used for only one epoch, leave the box as "1":**

<figure><img src="/files/XFqWY2HnL4KD6r4bro0U" alt=""><figcaption></figcaption></figure>

10. **Approve the amount in your wallet:**<br>

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXceGOVO2DL4BpTwz5-StXF4zECSU7cYGASCeg8qoEL8iLvC_eGb2jv-pmF5HNtwSMXyEAtPWRJaFXzcKYsbz5m8G4Bawo9TjG8Zpdk2cevvZhupJxaXLxgh-_O3gkLWVzCzMTDqfvyxsvNOKlnsytjDNHO8?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

11. **Click on "Deposit" and approve the transaction in your wallet to complete adding the voting incentive:**<br>

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdxbFpy7VlVdQSEjvaJyifOJEaTuqur6q7tKjsxmUQAzwAlrIYxddNyxnfAHqLzbJ-6TPyc5PMhNjdR1XkBhLrF_hYlAWkm47c-gBLmgRD-UJ5EKKRzfvAg42XDFm5OvypsVLwB9DKW92TKW0b4ZdlsfCzV?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

12. **Click on the "Vote" tab to visit the voting page:**<br>

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdPMJmaXwkezyfweerlqp_cg4fym0F6EwJQQX7Pu2ut884uyWtxn28D1PG3a5w3c2fsOT-ybWL9BzB8uxYBWkFIjRYdzYnz_HtJjTqVtk10J1Oxn1e9LBsJBE6WjYhJ4EizIyLl6MfelSMHnQ1lKpQABdUc?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

13. **Scroll down, find the related pool, click on it, and check the deposited voting incentive:**&#x20;

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXccSYc6XWFzOfl-xewKdLaLyKKDkhrOblKdvu7cFOLKAOj61D4OP-8ZBAekeNAED16DiKG4impi91P6oWFwUL3kNKfGLpty5vrIY2AUZgq49VpfNaO2LWR7nL0LRZpfkA_jy8SJlkvRAGHOK6h-EM2j_9rp?key=CFbTAOugUQ8wonsMP7L2ZQ" alt=""><figcaption></figcaption></figure>

The deposited amount will appear as shown above. If the voting incentive is divided into multiple epochs, the deposited amount **will be divided by the number of epochs.** In the tutorial, we deposited 1 USDT as a voting incentive **for 2 epochs**, and **1 USDT has been divided into 2 epochs**. In the current epoch, only 0.5 USDT is available for voters.


# Tokens

Tokens of the Penpie Ecosystem

[PNP Token](/tokens/pnp-token)

[mPENDLE Token](/tokens/mpendle-token)

[The mPENDLE Liquidity Pool on Pendle Finance](/tokens/the-mpendle-liquidity-pool-on-pendle-finance)

[Penpie Receipt Token](/tokens/penpie-receipt-token)

[Penpie Recovery Token (PRT)](/tokens/penpie-recovery-token-prt)


# PNP Token

PNP is the governance token of Penpie.

<figure><img src="/files/n1sxzmRzJ0ft2qtbp8pj" alt=""><figcaption><p>PNP</p></figcaption></figure>

Users can lock their PNP tokens on Penpie to receive vlPNP at a 1:1 ratio. vlPNP is the locked version of the PNP token. Vote-Locked PNP, also known as vlPNP, enables PNP holders to earn rewards for their active user engagement and share governance benefits on Pendle Finance & Penpie.&#x20;

The voting power that Penpie accumulates by holding vePENDLE is distributed among vlPNP holders, allowing them to participate in Pendle Finance's governance cost-effectively.

## ​**Details:**

Token Name: PNP

Token Type: OFT-20

Total Supply: 10,000,000

PNP can be traded through [Camelot Dex](https://app.camelot.exchange/) on Arbitrum and [PancakeSwap](https://pancakeswap.finance/swap?chain=bsc\&outputCurrency=0x5012c90F14d190607662CA8344120812Aaa2639D)[ ](https://thena.fi/swap?inputCurrency=BNB\&outputCurrency=0x5012c90f14d190607662ca8344120812aaa2639d)on BNBChain.


# Vote-Locked PNP

vlPNP

<figure><img src="/files/nyP4X3AGhsgchgGgbIop" alt=""><figcaption><p>vlPNP</p></figcaption></figure>

Vote-Locked PNP is the locked version of PNP. The governance power that Penpie has acquired by locking PENDLE on Pendle Finance is shared and controlled by vlPNP holders. Users interested in participating in Pendle Finance's governance can acquire voting power cost-effectively through PNP.

vlPNP service has been consolidated to the Arbitrum network.

## Users must lock PNP as vlPNP to:

* Earn active user engagement rewards
* Participate in governance

## How can I get vlPNP?

Users can lock PNP on Penpie via Arbiturm to get vlPNP at 1:1 ratio.

Since PNP can currently only be locked as vlPNP on Arbitrum, existing vlPNP holders on Ethereum, BNB Chain, and Optimism can use a one-click migration process in the [Penpie dApp](https://www.pendle.magpiexyz.io/stake) to move their positions to Arbitrum

## What are the benefits of vlPNP?

* Earn rewards for active user engagement on Penpie
* Voting power on Pendle Finance.
* Governance rights on Penpie.

## How does lock / unlock work?

* Once PNP is locked, it is in lock state indefinitely.
* Users must "Start Unlock" to start 60 day unlock period known as "Cool Down".
* Users can "Force Unlock" to unlock their vlPNP before 60 days by paying a penalty fee.
* To fully unlock vlPNP without penalty users must wait 60 days for the Cool Down period to end.
* vlPNP holders continue to earn rewards for their active user engagement but cannot participate in the voting process while their tokens are in Cool Down.

On day 1, penalty cost is 80% of the total PNP tokens locked by the user and will decrease non-linearly over time.

### There are three states of vlPNP

**1. Lock state:** vlPNP by default is in lock state and can vote on Penpie's governance, receive active user engagement rewards and access the Voting Market on Penpie.

**2. Cooldown (or unlocking) state:** vlPNP will be in cooldown state once users start unlock. You can choose the amount of vlPNP to start unlocking schedule. vlPNP in cooldown state can ONLY receive active user engagement rewards, NOT able to vote on Penpie's governance NOR use the Voting Market.

**3. Expired state:** Once the "Cooldown" period ends, vlPNP will enter an expired state. Expired vlPNP CANNOT perform the following actions: voting on Penpie's governance, receiving any user engagement rewards, or utilizing the Voting Market on Penpie.\
\
Rewards will still be allocated to expired vlPNP; however, once users attempt to claim them, these rewards will be forfeited and redistributed amongst all other vlPNP. The proportion of forfeited rewards is determined by the amount of expired vlPNPs and the length of time they have remained in the expired state.


# PNP Emission

Emission Allocation

Total PNP Emission / sec: 0.003

Yearly PNP Emission: 94608

<table><thead><tr><th>Arbitrum Chain</th><th>PNP/ sec</th><th width="175">PNP Emission (Yearly)</th></tr></thead><tbody><tr><td>mPENDLE Staking Pool</td><td>0.003</td><td>94,608</td></tr></tbody></table>


# Cross-chain functionality

Bridge PNP

PNP has implemented the OFT V2 standard from LayerZero, which enables users to Bridge PNP across Ethereum, Arbitrum and BNB Chain through Penpie's LayerZero bridge in our Dapp. This functionality for the underlying PNP token remains active. PNP holders can easily move their assets across supported chains to provide liquidity in the ecosystem of their choice.

While PNP is built with omnichain features, vlPNP is not. However, vlPNP votes on Arbitrum will be aggregated and cast back to Ethereum, allowing voters to earn rewards for their active user engagement.

**vlPNP Service Consolidation**

In line with [PIP #21](https://snapshot.box/#/s:penpiexyz.eth/proposal/0xe6cf74e2e33516885e00e18362af9474046423033814d0e661ab6ff759603c8d), the vlPNP service has been consolidated exclusively onto the Arbitrum network to unify liquidity and simplify the user experience. While the underlying PNP token is omnichain, the governance locking service for vlPNP is now only available on Arbitrum.

vlPNP votes on Arbitrum will be aggregated and cast back to the underlying vePENDLE positions, allowing voters to earn rewards for their active user engagement.

<br>


# PNP distribution

The PNP token will be distributed as follows:

<figure><img src="/files/dtrr5vrK76FjizPMd3yC" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/8afIBrhfVwflRn7VzI5x" alt=""><figcaption></figcaption></figure>


# PNP Chart

Tools to track the price of PNP

[CoinMarketCap](https://coinmarketcap.com/currencies/penpie/)

[CoinGecko](https://www.coingecko.com/en/coins/penpie)

[GeckoTerminal](https://www.geckoterminal.com/arbitrum/pools/0xbb7e7b8c1e5d08286f45878a76667f016e2f8390)


# mPENDLE Token

Penpie's version of PENDLE

<figure><img src="/files/6zFGZv0l30JjzQ8T1BmH" alt=""><figcaption><p>mPENDLE</p></figcaption></figure>

mPENDLE refers to "Magpie PENDLE", is a liquid version of vePENDLE that allows users to earn rewards for their active user engagement on Penpie. PENDLE holders can convert tokens into mPENDLE on Penpie.&#x20;

Penpie takes all converted PENDLE tokens and locks them on Pendle Finance in order to acquire more vePENDLE. This, in turn, allows Penpie to provide enhanced user engagement rewards for its depositors.

The process of permanently removing tokens from circulation is known as 'blackholing' and cannot be reversed. mPendle can not be converted back to Pendle. mPENDLE holders have the option to exchange their tokens for PENDLE on Thena.<br>


# Understanding mPENDLE

mPENDLE

## Converting mPENDLE

* Users can convert PENDLE into mPENDLE on Ethereum, Arbitrum, Bnb Chain and Optimism.
* After converting, users can stake mPENDLE on Penpie to earn active user engagement rewards.
* When users convert PENDLE into mPENDLE, Penpie locks all the converted PENDLE on Pendle Finance as vePENDLE.
* Users can swap mPENDLE back to PENDLE on PancakeSwap through Arbitrum at current market rates.

## Staking mPENDLE

* Stake mPENDLE on Penpie to earn active user engagement rewards.

## Bridging mPENDLE

* mPENDLE uses layer zero OFT V2 standard.
* Users can bridge mPENDLE between Ethereum, Arbitrum, BNB Chain and Optimism.


# Smart PENDLE Converter (ARB Only)

Optimize Your mPENDLE Conversion Rate

The new Smart PENDLE Converter offers users an enhanced rate when converting PENDLE to mPENDLE via Penpie.

The Smart Converter first checks the current PENDLE to mPENDLE rate on PancakeSwap. If the exchange rate shows mPENDLE trading below 95% of PENDLE value, the Smart Converter will execute the swap, securing over 1 mPENDLE for each PENDLE converted.

This dynamic rate optimization brings the mPENDLE conversion ratio closer to the 95% peg during periods of divergence, providing flexibility and favorable rates to the Penpie community.

The Smart PENDLE Converter taps into real-time market data to give users the best possible conversion rates.


# mPENDLE Stability Vault

Based on the approval of the PIP #18, the mPENDLE Stability Vault will be removed.

The mPendleSV pool will no longer receive rewards from Penpie, and all PENDLE rewards will be transferred to the Arbitrum mPENDLE Staking pool.\
\
The cooldown period to unlock mPendleSV is now 1 second. If your previous unlock cooldown has not yet completed, please cancel and start a new unlock with a cooldown of 1 second.&#x20;

You can have at most 2 ongoing cooldown entries at the same time.&#x20;

### Details

<https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b30>


# The mPENDLE Liquidity Pool on Pendle Finance

Long - Short mPENDLE yield!

<figure><img src="/files/0rcpOgO1uAE3Q3DfT0RX" alt=""><figcaption></figcaption></figure>

The mPENDLE liquidity pool on Pendle Finance allows PENDLE holders to convert their tokens into mPENDLE and trade the yield of mPENDLE tokens. Users can take long or short positions by buying or selling Yield Tokens. The mPENDLE pool brings multiple benefits to Penpie and we anticipate greater adoption of mPENDLE by Pendle liquidity providers.&#x20;

The mPENDLE pool enables mPENDLE users to trade Principal and Yield Tokens, creating more opportunities for active user engagement rewards. The listing could boost mPENDLE demand and conversions, further stabilizing mPENDLE and enhancing benefits on Penpie through higher APYs.

## **mPENDLE Pool Incentives**

Pendle offers yield incentives to liquidity providers based on the amount of vePENDLE votes allocated to each pool.&#x20;

To motivate vePENDLE holders to support the mPENDLE pool, Penpie will allocate active engagement rewards from its vePENDLE towards PNP buybacks. These will be distributed as voting incentives for the mPENDLE pool.

Penpie introduced the mPENDLE pool, offering mPENDLE holders rewards for their active user engagement, without the need for direct vePENDLE locks.

## **Benefits of the mPENDLE Liquidity Pool**

\- SY Yield from mPENDLE staking&#x20;

\- PT Fixed Yield from PT discounts

\- LP pool swap fees

\- $PENDLE emissions  &#x20;

A key feature is the automatic buyback and reinvestment mechanism. When SY Yield generates $PENDLE, the contract seamlessly converts through Penpie's Smart PENDLE converter. If the mPENDLE/PENDLE peg falls below 95%, the Smart Converter purchases mPENDLE on PancakeSwap using the PENDLE. This automated process creates continuous support for mPENDLE.&#x20;

At discounts below 5%, tokens directly convert to mPENDLE 1:1 using the Smart Converter. This strategic conversion expands Penpie’s vePENDLE holdings, increasing potential PENDLE incentives and solidifying Penpie’s position across the ecosystem.


# Penpie Receipt Token

The receipt token for depositors

* Penpie has introduced a receipt token for TVL providers across different pools, with the aim of enhancing the DeFi lego structures built on top of the Penpie ecosystem.
* Users receive Penpie receipt tokens when they become liquidity providers on Penpie. (Ex: <https://arbiscan.io/address/0xCD3A30D714B2b0aeda32593dF3bAd12351dd2314> [PTGLP28MAR24 ](https://arbiscan.io/token/0xCD3A30D714B2b0aeda32593dF3bAd12351dd2314)Penpie Receipt Token or mPENDLE Receipt Token).
* The receipt token is transferable. Upon transfer, rewards are updated for both the sender (\_from) and recipient (\_to) addresses. The accumulation of rewards is entitled to the current owner of the receipt token.


# Penpie Recovery Token (PRT)

Penpie Recovery Token(PRT)

The Penpie Recovery Token (#PRT) is a 1:1 USD-denominated token issued to compensate users impacted by a previously addressed incident.

In line with PIP-15: Recovery Plan for Users Affected by the Penpie Exploit, Penpie has minted 31 million #PRT tokens dedicated to addressing compensation.

**PRT token address:**\
<https://arbiscan.io/address/0x4EEE13b0Fc9FA1A59AC3Ea5F4900Da3Bbe31abf8>


# Fee Structure

All key parameters are governed by the Penpie DAO. The Penpie team is responsible for implementing and executing the decisions made by the DAO.

## Rewards for Active User Engagement

Through its vePENDLE holdings — accumulated from user deposits — Penpie generates Voting rewards and Base rewards from PENDLE.

Penpie leverages its vePENDLE voting power to boost user yields, allowing liquidity providers to earn optimized returns without needing to lock PENDLE into vePENDLE themselves. In return, Penpie charges a fee for this service, which is distributed among mPENDLE stakers, vlPNP holders, the treasury, and the harvest caller function.

Users can earn higher rewards by actively participating in the ecosystem while contributing to DAO governance.<br>


# PENDLE LP

All key parameters are governed by the Penpie DAO. The Penpie team is responsible for implementing and executing the decisions made by the DAO.

### According to [PIP-18](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b3046eab6fc5a7014), [PIP-17](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x386103c78a7cd2eef482cb4e12bbce8c493618aa11e46f7ff352f33afe2db485), and [PIP-2](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x6f413b8e8c975f39a4158a0436be7054d2f3e7a8efd7aaad79f8d9b0f97849a8), the current governance distribution structure is as follows:

#### Boosted SY reward yield from liquidity farming on Pendle <a href="#boosted-sy-reward-yield-from-liquidity-farming-on-pendle" id="boosted-sy-reward-yield-from-liquidity-farming-on-pendle"></a>

* 100% to liquidity providers.

#### Boosted PENDLE rewards from liquidity farming on Pendle

{% tabs %}
{% tab title="ARB / BSC / OP" %}

* 78% to liquidity providers.
* 12% to mPENDLE Staking pool.
* 5% to vlPNP holders as mPendle.
* 5% fund essential operational expenses
  {% endtab %}

{% tab title="ETH" %}

* 78% to liquidity providers.
* 12% to mPENDLE Staking pool.
* 5% to vlPNP holders as mPendle.
* 4% fund essential operational expenses
* 1% to Harvest Caller function
  {% endtab %}

{% tab title="Sonic / Bera / Base" %}

* 78% to liquidity providers.
* 12% to ARB Chain mPENDLE Staking pool.
* 5% to ARB Chain vlPNP holders as mPendle.
* 5% fund essential operational expenses
  {% endtab %}
  {% endtabs %}


# vePENDLE Revenue

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](https://snapshot.box/#/s:penpiexyz.eth/proposal/0xba67b9bfaf0c4c0edf629d88b6712aeb0a600bfdb48c002c514fba8f971589fc)
* 80% is allocated according to [PIP-16](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x59b8ffda6b4ea1aa1d8bd08cc4f34928d8d773eb5f8c1e15d71fb755e96fd52a).

The allocation of rewards follows this order of priority:

1. Priority to meet the monthly PNP incentive needs.
2. Subsidize PRT repayment, which equals to 20% of the month's voter reward.
3. 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](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x54dcd8653aa924e4de7c1f9a4ef35129d8c17223d2e2df15d124d57e41dd94c6)):

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](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b3046eab6fc5a7014).

### All assets will be stored in the treasury wallet. <https://debank.com/profile/0x18b20d76973eacc76022f0b15fc6857e1d8aa23c>


# Voting Incentives

All key parameters are governed by the Penpie DAO. The Penpie team is responsible for implementing and executing the decisions made by the DAO.

#### Pendle Voter&#x20;

* 40% is allocated to vlPNP voters according to [PIP-11](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x176216e53d1aacc11f142fa8efbe2c978df73e5baae19d3d91b6b2daa85573ae) & [PIP-15](https://snapshot.box/#/s:penpiexyz.eth/proposal/0xba67b9bfaf0c4c0edf629d88b6712aeb0a600bfdb48c002c514fba8f971589fc). (The APR on the UI is the expected rewards based on the data from the previous week..)\
  When PENPIE receives rewards from PENDLE, it will convert wETH into PNP and distribute it to users. (Expected in 2 months) &#x20;
* 40% is allocated to the treasury for mPENDLE buyback according to [PIP-16](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x59b8ffda6b4ea1aa1d8bd08cc4f34928d8d773eb5f8c1e15d71fb755e96fd52a).
* 20% is allocated to the PRT mechanism according to [PIP-15](https://snapshot.box/#/s:penpiexyz.eth/proposal/0xba67b9bfaf0c4c0edf629d88b6712aeb0a600bfdb48c002c514fba8f971589fc)

#### Penpie Voter&#x20;

* 95% is allocated to vlPNP voters according to [PIP-18](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b3046eab6fc5a7014). \
  (Rewards are distributed every Wednesday at 5 PM SGT)
* 5% of the fund is allocated to essential operational expenses according to [PIP-18](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b3046eab6fc5a7014).

#### vlPNP Vote Delegation Pool

* 5% is allocated to essential operational expenses.


# Penpie Maximizing Benefits

Understanding Penpie

## What is Penpie?

​​Penpie is a next-generation DeFi platform designed to provide Ethereum, Arbitrum, BNB Chain and Optimism users with enhanced yield and veTokenomics boosting services. Penpie revolutionizes the way users can optimize their benefits on Pendle Finance.

### How does Penpie support Pendle Finance?

Pendle Finance offers users the opportunity to lock PENDLE tokens in order to participate in the protocol's governance and get increased rewards as liquidity providers in the platform. Penpie aims to lock as many PENDLE tokens as possible to maximize the benefits of vePENDLE on Pendle Finance, and then offer these benefits back to users.

🔹 Boosted active user engagement rewards for PENDLE holders

🔹 Boosted active user engagement rewards for liquidity providers

🔹 Cost-Effective Voting Power and active user engagement rewards for Pendle Finance Voters (Real Yield)

🔹 Decreasing PENDLE circulating supply


# Boosted Rewards for PENDLE Holders

Users can convert PENDLE into mPENDLE to earn boosted APR% on Penpie

### Boosted cctive user engagement rewards for PENDLE holders

Penpie offers PENDLE holders the opportunity to earn boosted rewards for their active user engagemnt by converting their tokens into mPENDLE. When users convert their PENDLE tokens into mPENDLE on Penpie the platform automatically locks all the converted PENDLE as vePENDLE on Pendle Finance while it gives users mPENDLE tokens that allows them to maximize their benefits. This mechanism allows Penpie to own governance power on Pendle Finance and get yield-boosting benefits thanks to its vePENDLE holdings. Users can swap mPENDLE back to PENDLE on the secondary market.

### mPENDLE Rewards:

* mPENDLE
* PNP


# Boosted Rewards for Liquidity Providers

Liquidity Providers can earn boosted rewards on Penpie without locking any PENDLE

### Accessing Boosted Yields via Penpie

Thanks to the vePENDLE holdings of Penpie, users can deposit their assets on the platform to earn enhanced rewards for their active user engagement without the need to lock any PENDLE by themselves. Basically Penpie shares its yield-boosting benefits with liquidity providers on the protocol.

### Note:

* Only $PENDLE of the APR is boostable; the entire combined APR cannot be boosted.
* The multiplier also affects the outcome. (If the majority of the LP is staked on Penpie, the multiplier could drop.)

Please refer to the [PENDLE documentation](https://docs.pendle.finance/ProtocolMechanics/Mechanisms/vePENDLE) for details.


# wLP: Streamlined Yield for Penpie and Pendle LPs

Wrap your LP -> Get wLP & Start Compounding -> Explore DeFi Opportunities with wLP

<figure><img src="/files/BCEBycWN49yKkHMgaDXe" alt=""><figcaption></figcaption></figure>

Penpie offers auto-compounding pools where Pendle and Penpie LPs can deposit their LP tokens to receive a wrapped LP token (wLP) that automatically compounds rewards.

Instead of manually claiming PENDLE emissions, rewards are harvested daily, converted into the underlying LP, and reinvested. This causes the value of Penpie’s wLP to steadily increase over time.

Key features of wrapped LP tokens:

* Boosted yield – All wLP holders will benefit from enhanced yield thanks to Penpie’s vePENDLE holdings.
* Seamless collateralization – Rewards are baked into the token, making wrapped LP tokens easy to integrate as collateral in lending protocols.
* ERC-4626 compatible – Built on the tokenized vault standard for maximum DeFi composability.
* Accurate pricing – Maintains a 1-to-1 relationship between the Penpie Receipt Token and the corresponding Pendle LP tokens, while leveraging Pendle’s oracle for reliable price feeds.
* Automation with efficiency – Daily compounding is fully automated by the protocol, with a minimal 1% fee added to standard platform fees to cover gas costs and ensure smooth, sustainable operations.

Note:&#x20;

* Users can wrap their LPs at any time to unlock this “set-and-forget” wLP yield strategy, maximizing capital efficiency while keeping their positions ready for broader DeFi integrations.
* Users can unwrap their wLP at any time to receive more underlying assets than initially deposited, thanks to the rewards accrued over time.

### Official Audit Reports:

<https://github.com/astrasecai/audit-reports/blob/main/AstraSec-AuditReport-Penpie-v1.12.pdf>

<https://github.com/blocksecteam/audit-reports/blob/main/solidity/blocksec_magpie_penpieautomkt_v1.0-signed.pdf>


# Cost-Effective Voting Power for Pendle Finance users

Users can acquire voting power on Pendle Finance cost-effectively through PNP

Pendle Finance voters must buy and lock PENDLE tokens for 2 years to get max voting power, which is not a cost-effective way to control governance power.&#x20;

### ​Penpie offers efficient voting power for Pendle Finance voters:&#x20;

Users can lock their PNP tokens as vlPNP to share the voting power that Penpie has accumulated through its vePENDLE holdings. Each PENDLE that Penpie locks on Pendle Finance is locked for 2 years. This means that all of Penpie's vePENDLE own the highest benefits on Pendle Finance. Pendle Finance voters can get voting power effectively by acquiring and locking PNP tokens. Users can lock PNP as Vote-Locked PNP on Penpie to participate in the governance of Pendle Finance while earning rewards for their active user engagement.


# Decrease PENDLE circulating supply

Penpie helps Pendle Finance to lock PENDLE tokens as vePENDLE

When users convert their PENDLE tokens into mPENDLE, Penpie automatically locks all the converted PENDLE as vePENDLE on Pendle Finance while users get mPENDLE. This mechanism decreases PENDLE sell pressure in the long term.


# The Penpie Voting Market

A platform for vlPNP holders to vote and participate on Pendle Finance

<figure><img src="/files/yM8wrMHHRR6pXQbgqhgQ" alt=""><figcaption></figcaption></figure>

Many users and protocols aspire to acquire governance rights within Pendle Finance, but the prerequisite of purchasing and locking PENDLE tokens long-term can be challenging. To overcome this, they can now acquire and lock [PNP](https://www.coingecko.com/en/coins/penpie) tokens as vlPNP for a much shorter period of time. Penpie created [**the Penpie Voting Market**](https://www.pendle.magpiexyz.io/bribe), enabling vlPNP token holders to influence the emission of PENDLE. This strategy supports Pendle Finance’s long-term sustainability, its liquidity pools, liquidity providers, and voters.<br>


# Vote

Allocate your votes on the Penpie Voting Market

vlPNP holders can easily select their preferred pool to allocate their voting power and [earn ](https://www.pendle.magpiexyz.io/bribe)voting incentives for their active engagement. This feature enables Pendle voters to participate efficiently in the distribution of PENDLE rewards through a much shorter lockup period than through vePENDLE. Users also have the option to allocate a percentage of their votes to multiple pools simultaneously.

<figure><img src="/files/CM6bxTozWjaaa2pnya6f" alt=""><figcaption></figcaption></figure>

### Note: <a href="#id-96c6" id="id-96c6"></a>

* Users can actively engage as voters to get voting incentives.
* PENPIE voting incentives will be distributed 24 to 48 hours after the vote ends.
* PENDLE voting incentives will be distributed after PENDLE disburses the rewards and Penpie completes a one-month PNP buyback using those rewards.


# vlPNP Gauge

Check the distribution of vlPNP votes

The vlPNP Gauge enables users to visualize the distribution of Penpie’s vePENDLE, which is controlled by vlPNP holders. vlPNP holders can vote in the Penpie Voting Market to determine PENDLE emissions for these pools.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/1*rekgzO4_oVETpNMOYnRDpQ.png" alt="" height="486" width="700"><figcaption><p>Check how vlPNP voters allocate Penpie’s vePENDLE voting power</p></figcaption></figure>

<br>


# vePENDLE Gauge

Utilize your voting power on Pendle Finance via Penpie.

<figure><img src="/files/TpoMO8KX5sBXVqkjWDwJ" alt=""><figcaption></figcaption></figure>

The vePENDLE Gauge is an unique feature where vePENDLE holders can exercise their voting power, influencing the allocation of PENDLE emissions across differnet pools on Pendle Finance through the Penpie Voting Market.

vePENDLE holders can receive voting incentives from Pendle Finance ecosystem partners on Penpie, allowing them to get real yields for their active user engagement.

Pendle Finance's ecosystem partners, or anyone looking to support a specific pool, can provide rewards for vePENDLE voters on Penpie.

* 90% of the rewards will be directly allocated to the corresponding vePENDLE Gauge.
* 5% will fund essential operational expenses.
* 5% will be used to buy back and burn PNP.


# Benefits

The Penpie Voting Market supports the Pendle Finance Eco as a whole

### **1. For Protocols:** <a href="#id-53f3" id="id-53f3"></a>

Protocols with liquidity pools on Pendle Finance can offer voting incentives to obtain a larger share of PENDLE token emissions by gaining voting support from vlPNP holders. This can lead to an increase in the Total Value Locked within their pools. The greater the number of votes a pool secures, the higher the PENDLE emissions it accrues.

### **2. For Liquidity Providers:** <a href="#id-04c2" id="id-04c2"></a>

Depositors on Penpie and Pendle Finance can earn a higher APY% on their deposits, thanks to the votes allocated. Liquidity providers also have the opportunity to deposit voting incentives.

### **3. For Governance Voters on Pendle Finance:** <a href="#id-6ed4" id="id-6ed4"></a>

Voters in Pendle Finance can acquire efficient governance power through the PNP token. By locking PNP as vlPNP, users are able to optimize the monetization of their voting power within Pendle Finance. By tapping into the voting power of the vePENDLE accumulated by Penpie, vlPNP holders can command more voting power. Consequently, they can earn more rewards for their active user engagement by locking up PNP rather than vePENDLE, with a shorter lock-up period.


# Farm Points on Penpie

Accumulating Farm Points on Penpie

In recent years, the adoption of Liquid Staking and Restaking Token options for ETH has led to increased interest in points accumulation campaigns. Many protocols have implemented this strategy to enhance user engagement and loyalty. While Eigenlayer's points accumulation program gained significant popularity, numerous other protocols have adopted similar approaches, including EtherFi, Swell Network, Eigenpie, KelpDAO, Renzo Puffer, and Karak Network.

As the largest holder of vePENDLE on Pendle Finance, Penpie offers enhanced point accumulation opportunities for its users across various protocols. This incentivizes users to increase their liquidity on Pendle Finance via Penpie, rewarding them with boosted platform points.

Many Liquid Staking Tokens (LSTs), Liquid Restaking Token (LRTs), and Layer 2 pools on Penpie now offer single or multi-platform point accumulation. This allows users to get a diverse range of platform points by simply depositing their assets on Penpie, thereby increasing their potential benefits across multiple platforms.

\
Users can accumulate platform points for one or multiple protocols simultaneously by depositing these protocols' tokens on Penpie. Also, Vote-Locked PNP (vlPNP) holders can vote for our ecosystem partners' pools, earning additional platform points on top of voting incentives and securing a share of token Airdrops from these protocols.

This multi-faceted approach to point accumulation offers Penpie users a unique opportunity to maximize their potential rewards across various protocols within the DeFi ecosystem.


# Governance

Decision-making on the Penpie XYZ Ecosystem

## The Penpie Governance Forum

As part of the Magpie SubDAO, Penpie utilizes Magpie's Governance Forum.

<figure><img src="/files/3wgBHXk34b18op1ABsNT" alt=""><figcaption></figcaption></figure>

Users can join our [**Governance Forum**](https://gov.magpiexyz.io/) to suggest changes to our platform and take part in the discussion with other investors. The [**General Discussion** ](https://gov.magpiexyz.io/c/penpie/2-general-discussion/15)channel and the [**Community Ideas**](https://gov.magpiexyz.io/c/penpie/community-ideas/16) channel are created with the goal of fostering user participation. The core contributors of Penpie will review users opinions and engagement within the forum to consider implementations moving forward.

In the [**Penpie Improvement Proposals** ](https://gov.magpiexyz.io/c/penpie/penpie-improvement-proposal/17)category, core contributors from Penpie will post proposed changes to the platform. This allows the community to vote and decide whether to support the suggestions or not.&#x20;

## vlPNP holders are able to support or vote against the PIPs via [Snapshot](https://snapshot.org/#/penpiexyz.eth).&#x20;

Snapshot is an off-chain voting platform that allows DAOs, DeFi protocols, or NFT communities to participate in decentralized governance.

<figure><img src="/files/6bvNeJmPgfwLpFYLuzau" alt=""><figcaption></figcaption></figure>


# Official Links and Tools


# Smart Contracts

{% tabs %}
{% tab title="Ethereum" %}

| Contract                                 | Address                                                                                                                                                   |
| ---------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |
| PNP Token                                | <https://etherscan.io/address/0x7DEdBce5a2E31E4c75f87FeA60bF796C17718715>                                                                                 |
| mPENDLE Token                            | [https://etherscan.io/address/0x83e817E1574e2201a005EC0f7e700ED5606F555E ](<https://etherscan.io/address/0x83e817E1574e2201a005EC0f7e700ED5606F555E    >) |
| PendleStaking                            | <https://etherscan.io/address/0x6E799758CEE75DAe3d84e09D40dc416eCf713652>                                                                                 |
| MasterPenpie                             | <https://etherscan.io/address/0x16296859C15289731521F199F0a5f762dF6347d0>                                                                                 |
| mPendleConvertor                         | [https://etherscan.io/address/0x4bcc7c793534246BC18acD3737aA4897FF23B458](<https://etherscan.io/address/0x4bcc7c793534246BC18acD3737aA4897FF23B458    >)  |
| PENDLERUSH                               | <https://etherscan.io/address/0xF9619e8B01Acc23FAc7Ee0AEb1258433b85814ec>                                                                                 |
| PENDLERUSH V2                            | <https://etherscan.io/address/0x4e8129ae17826E2f8Fce659F8F8671f9086D9934>                                                                                 |
| vlPNP                                    | <https://etherscan.io/token/0x4405C0b330Db66dFFc40c8bcC616E447505AF0F8>                                                                                   |
| pendleVoteManagerMainChain               | <https://etherscan.io/address/0x05fA779ce734d3D0569269c184d4aECdCD26Ce38>                                                                                 |
| penpieBribeManager                       | <https://etherscan.io/address/0x3A51CC8fc92cd5bA1d6920a9ee4cF07A77032Bdf>                                                                                 |
| penpieBribeRewardDistributor             | <https://etherscan.io/address/0xa346Bd80943Aa3042E6709d80Ce9C3b8fbeAc4Ab>                                                                                 |
| penpie vependle bribe reward distributor | <https://etherscan.io/address/0x5f75d2bb5f341a47fa052772ad994a7039c61f5f>                                                                                 |
| timelock Ethereum                        | <https://etherscan.io/address/0xdA9F8373e5129021695F220B84bAe3204bC27Cf6>                                                                                 |
| {% endtab %}                             |                                                                                                                                                           |

{% tab title="Arbitrum" %}

| Contract                     | Address                                                                                                                                              |
| ---------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |
| PNP Token                    | <https://arbiscan.io/token/0x2Ac2B254Bc18cD4999f64773a966E4f4869c34Ee>                                                                               |
| mPENDLE Token                | <https://arbiscan.io/address/0xB688BA096b7Bb75d7841e47163Cd12D18B36A5bF>                                                                             |
| PendleStaking                | [https://arbiscan.io/address/0x6DB96BBEB081d2a85E0954C252f2c1dC108b3f81 ](<https://arbiscan.io/address/0x6DB96BBEB081d2a85E0954C252f2c1dC108b3f81 >) |
| MasterPenpie                 | <https://arbiscan.io/address/0x0776C06907CE6Ff3d9Dbf84bA9B3422d7225942D>                                                                             |
| mPendleConvertor             | <https://arbiscan.io/address/0x4a5f48616Ad968b6775B244574E65909F7A30C95>                                                                             |
| PENDLERUSH                   | <https://arbiscan.io/address/0x8bf06db445704bcdde0c18be219442314869e634>                                                                             |
| PENDLERUSH V2                | <https://arbiscan.io/address/0x0E7931e7ecf0074E7ce18c5254C949322B933df4>                                                                             |
| vlPNP                        | <https://arbiscan.io/token/0xc61d3c70cfc9dedaa090fdd0760eb9291253feff>                                                                               |
| pendleVoteManagerSideChain   | <https://arbiscan.io/address/0x2A21A084Bab4e13169B7d4f7F50474aA96C94Acd>                                                                             |
| penpieBribeManager           | <https://arbiscan.io/address/0x96DB7174d7039948227955eF3A6103eC47f196e8>                                                                             |
| penpieBribeRewardDistributor | <https://arbiscan.io/address/0x8CE523cf1120d9B7703806c745B69663a2847504>                                                                             |
| timelock Arbitrum            | <https://arbiscan.io/address/0x7D18Fd87b64a917Ab7D37cfb90163cFee374Ff08>                                                                             |
| {% endtab %}                 |                                                                                                                                                      |

{% tab title="BNB Chain" %}

| Contract                     | Address                                                                  |
| ---------------------------- | ------------------------------------------------------------------------ |
| PNP Token                    | <https://bscscan.com/token/0x5012c90f14d190607662ca8344120812aaa2639d>   |
| mPENDLE Token                | <https://bscscan.com/token/0x0465aad9da170798433f4ab7fa7ec8b9b9bf0bb1>   |
| PendleStaking                | <https://bscscan.com/address/0x782d9d67feaa4d1cdf8222d9053c8cba1c3b7982> |
| MasterPenpie                 | <https://bscscan.com/address/0xb35b3d118c0394e750b4b59d2a2f9307393cd5db> |
| mPendleConvertor             | <https://bscscan.com/address/0x841e70cD5F6527bDabf822C6bd2590846Cfbf655> |
| vlPNP                        | <https://bscscan.com/address/0x9246583cb1bbfe52003bbde0d9b82db50024c6b1> |
| pendleVoteManagerSideChain   | <https://bscscan.com/address/0x780e9789588C00569106Bf790aB8D8d75380EAD7> |
| penpieBribeManager           | <https://bscscan.com/address/0x8Db6698B3bcbbfe0c83C555d8F4F5766C01b60C6> |
| penpieBribeRewardDistributor | <https://bscscan.com/address/0x6E796bCF2B63b070F9cC0a7D3d857FeF628E9e5b> |
| timelock BNB                 | <https://bscscan.com/address/0xe088C993Fa4c4860EDe52580629A6d296f2575db> |
| {% endtab %}                 |                                                                          |

{% tab title="OP Mainnet" %}

| Contract                  | Address                                                                              |
| ------------------------- | ------------------------------------------------------------------------------------ |
| PNP Token                 | <https://optimistic.etherscan.io/token/0xc4a65a93dd6cd9717551ebe827e8baee025d1d7e>   |
| mPENDLE                   | <https://optimistic.etherscan.io/token/0xa3B615667CBd33cfc69843Bf11Fbb2A1D926BD46>   |
| masterMagpie              | <https://optimistic.etherscan.io/address/0x3cbfc97f87f534b42bb58276b7b5dcad29e57eac> |
| PENDLE Staking            | <https://optimistic.etherscan.io/address/0x509FD25EE2AC7833a017f17Ee8A6Fb4aAf947876> |
| mPENDLEConvertorSidechain | <https://optimistic.etherscan.io/address/0x770C732d420b8507160215c53ba2Cc9fc251F5E9> |
| vlPNP                     | <https://optimistic.etherscan.io/address/0x0Af3EC6F9592C193196bEf220BC0Ce4D9311527D> |
| {% endtab %}              |                                                                                      |

{% tab title="Plasam" %}

| Contract                       | Address                                                                    |
| ------------------------------ | -------------------------------------------------------------------------- |
| masterPenpie                   | <https://plasmascan.to/address/0x2Cfedb9C62EFb57A8Bb8EC535F32731975d55243> |
| pendleStaking                  | <https://plasmascan.to/address/0xfFf28A2845aEB11394ed63dDFC62161af6310701> |
| Penpie bribe manager           | <https://plasmascan.to/address/0x01f39ACDea384408AbC62f7f4a93dE614B1B3c8b> |
| pendle vote manager side chain | <https://plasmascan.to/address/0x4e8129ae17826E2f8Fce659F8F8671f9086D9934> |
| PenpieBribeRewardDistributor   | <https://plasmascan.to/address/0x921a57FC7f9fc9C6777d5B8e2AE97a0A2e4fb629> |
| {% endtab %}                   |                                                                            |

{% tab title="Sonic" %}

| Contract                 | Address                                                                    |
| ------------------------ | -------------------------------------------------------------------------- |
| pendle staking           | <https://sonicscan.org/address/0xF9619e8B01Acc23FAc7Ee0AEb1258433b85814ec> |
| masterPenpie             | <https://sonicscan.org/address/0x664cc2BcAe1E057EB1Ec379598c5B743Ad9Db6e7> |
| vote manager side chain  | <https://sonicscan.org/address/0xFAa7234cDb0e87D45423d80C1EA12b5B28a92c3c> |
| bribe manger             | <https://sonicscan.org/address/0xD06716E1Ff2E492Cc5034c2E81805562dd3b45fa> |
| Bribe reward distributor | <https://sonicscan.org/address/0x8aE8d80e55a13ffC3d84Bc293ab31CF2B7A5af0D> |
| {% endtab %}             |                                                                            |

{% tab title="Bera" %}

| Contract                     | Address                                                                   |
| ---------------------------- | ------------------------------------------------------------------------- |
| masterpenpie                 | <https://berascan.com/address/0x367e7A694B9BE5339Cd861F7ee200cb829CDef96> |
| pendleStakingSideChain       | <https://berascan.com/address/0xC4a65A93dD6CD9717551ebE827E8baEe025d1d7E> |
| pendleVoteManagerSideChain   | <https://berascan.com/address/0x01f39ACDea384408AbC62f7f4a93dE614B1B3c8b> |
| penpieBribeManager           | <https://berascan.com/address/0xd9A29554dB3FC74333D7E14C2643F5a752F502C0> |
| penpieBribeRewardDistributor | <https://berascan.com/address/0x5cd457A1DB6973Ae058604aEaEc0878AD89B99A4> |
| {% endtab %}                 |                                                                           |

{% tab title="HyerEVM" %}

| Contract                     | Address                                                                      |
| ---------------------------- | ---------------------------------------------------------------------------- |
| masterPenpie                 | <https://hyperevmscan.io/address/0xb664342D02A71cc16e7f88dc5711fF6cC28512E7> |
| PendleStakingSideChain       | <https://hyperevmscan.io/address/0xDAe38aE946F95206d9b687d7d53b2856379A21c0> |
| PendleVoteManagerSideChain   | <https://hyperevmscan.io/address/0xFC3a0Ca6676E28861cC957bE1d13749998E301ca> |
| PenpieBribeManager           | <https://hyperevmscan.io/address/0x897DCaf25d569b52f29485Cf1e36beE3DFbd4825> |
| PenpieBribeRewardDistributor | <https://hyperevmscan.io/address/0x82d71F5ECf1F1509B2cD2f512249770174B20406> |
| {% endtab %}                 |                                                                              |

{% tab title="Base" %}

| Contract                 | Address                                                                   |
| ------------------------ | ------------------------------------------------------------------------- |
| masterPenpie             | <https://basescan.org/address/0xC295087393C3ffc8AA46A8f6489Ac93cE2dC6461> |
| pendleStakingSideChain   | <https://basescan.org/address/0x7A89614B596720D4D0f51A69D6C1d55dB97E9aAB> |
| voteManager              | <https://basescan.org/address/0x7fdc65a1b41d43e86c802f9c8855e469218453a5> |
| bribeManager             | <https://basescan.org/address/0x6b6551b2d7caa790f301197e4690836897a41900> |
| Bribe Reward distributor | <https://basescan.org/address/0xf82c5346e32000aa7d858b65736db5cdac0e8f63> |
| {% endtab %}             |                                                                           |
| {% endtabs %}            |                                                                           |

## Governance

{% tabs %}
{% tab title="ETH" %}

| Contract        | Address                                                                                                               |
| --------------- | --------------------------------------------------------------------------------------------------------------------- |
| Penpie MultiSig | [0xf433c2A2D6FACeCDd9Edd7B8cE9cEaaB96F41866](https://etherscan.io/address/0xf433c2A2D6FACeCDd9Edd7B8cE9cEaaB96F41866) |
| Proxy Admin     | 0xcb89134b4253861194750BCB4007612ccfFFad55                                                                            |
| {% endtab %}    |                                                                                                                       |

{% tab title="Arbitrum" %}

| Contract     | Address                                                                  |
| ------------ | ------------------------------------------------------------------------ |
| ProxyAdmin   | <https://arbiscan.io/address/0x90ff684fd8060eaff3e85eae5f5f8c3ca6f67b2d> |
| {% endtab %} |                                                                          |

{% tab title="BNB Chain" %}

| Contract                | Address                                                                                                              |
| ----------------------- | -------------------------------------------------------------------------------------------------------------------- |
| Penpie Admin MultiSig   | [0xf433c2A2D6FACeCDd9Edd7B8cE9cEaaB96F41866](https://bscscan.com/address/0xf433c2a2d6facecdd9edd7b8ce9ceaab96f41866) |
| Penpie Liquidity Mining | [0x840b0c2a50dc7E214c779590Ce384BCCC2cdc68D](https://bscscan.com/address/0x840b0c2a50dc7E214c779590Ce384BCCC2cdc68D) |
| {% endtab %}            |                                                                                                                      |
| {% endtabs %}           |                                                                                                                      |


# Official Links

Official Links

**Website:** [**https://www.pendle.magpiexyz.io/stake**](https://www.pendle.magpiexyz.io/stake)

**Twitter: ​**[**https://twitter.com/Penpiexyz\_io**](https://twitter.com/Penpiexyz_io)

**Telegram Discussion:** [**https://t.me/Official\_MagpieMegaDao/101123**](https://t.me/Official_MagpieMegaDao/101123)

**Medium:** [**https://blog.penpiexyz.io/**](https://blog.penpiexyz.io/)

**Discord:** [**https://discord.com/invite/magpiexyz**](https://discord.com/invite/magpiexyz)


# Media Kit

Penpie Brand Assets

{% hint style="info" %}
<https://drive.google.com/drive/folders/1cZN-BiMHEOSBRXPzHyDq6BO7JfL3IJ3L?ths=true>
{% endhint %}


# Reference

Disclaimer

Penpie is designed with a strong emphasis on ensuring the safety and peace of mind of our users. However, interacting with any smart contract involving decentralized finance comes with inherent risks. Before launching the platform, our team carried out a comprehensive assessment of our smart contracts. We also enlisted the help of skilled external auditors to identify any potential vulnerabilities or loopholes in the system.

Nevertheless, there remains a risk that you could lose all or part of your investment. We kindly urge you to exercise caution when interacting with the platform, and to do so within the parameters of your own risk strategy.

As users, you also face any risks associated with Pendle Finance, due to our direct integration with them, in addition to the risks inherent to Penpie. Before engaging with either of these platforms, we request that you review their documentation and understand any outlined risks.


# Glossary

Tokens related to Penpie and Pendle Finance

### PENDLE

PENDLE is the governance token of Pendle Finance. Penpie provides PENDLE holders the chance to earn enhanced rewards for their active user engagement by converting their PENDLE tokens into mPENDLE. Penpie then locks all the converted PENDLE as vePENDLE permanently on Pendle Finance while users benefit from active engagement rewards through mPENDLE.

### vePENDLE

vePENDLE is accrued as users lock PENDLE on Pendle Finance. vePENDLE it's not transferable and is lost when unlocking PENDLE. The higher a user's balance of vePENDLE, the more they can boost their yields as liquidity providers on Pendle Finance and more voting power they control.

### mPENDLE

mPENDLE (Magpie PENDLE) is minted by converting PENDLE on Penpie. It can be staked on the platform to potentially get active user engagement rewards.

### PNP

PNP is the governance token of Penpie. Users can lock PNP to participate in governance and earn rewards for their active user engagement.

### vlPNP

Vote-Locked PNP. Locked version of PNP. vlPNP holders control the voting power that Penpie owns on Pendle Finance. Users can lock their PNP to receive vlPNP at 1:1 ratio. vlPNP holders have the chance to earn active uer engagement rewards on the platform and also share governance rights. Vote-Locked PNP holders can participate in the governance of Pendle Finance and Penpie.


# Security

Platform Security and funds safety are Penpie's top priority. Check audit reports here.


# Audit Reports

Penpie Security Audit Reports

## 2023 Audits

### **WatchPug Audit**

WatchPug Audit Report 1:\
<https://github.com/magpiexyz/audit/blob/main/Penpie/WatchPug_V1.pdf>

WatchPug Audit Report 2:&#x20;

<https://github.com/magpiexyz/audit/blob/main/Penpie/WatchPug_V2.pdf>

### **Zokyo Audit**

Zokyo Audit Report 1:

<https://github.com/magpiexyz/audit/blob/main/Penpie/Zokyo_V1.pdf>

Zokyo Audit Report 2:

<https://github.com/magpiexyz/audit/blob/main/Penpie/Zokyo_V2.pdf>

### AstraSec Audit

<https://github.com/astrasecai/audit-reports/blob/main/AstraSec-AuditReport-Magpie-Penpie.pdf>

## **2024** Audits <a href="#f6e1" id="f6e1"></a>

### **AstraSec Full Audit** <a href="#f6e1" id="f6e1"></a>

<https://github.com/astrasecai/audit-reports/blob/main/AstraSec-AuditReport-Magpie-Penpie-FullAudit.pdf>

### **PeckShield Full Audit** <a href="#da11" id="da11"></a>

<https://github.com/peckshield/publications/tree/master/audit_reports/PeckShield-Audit-Report-Penpie-v1.0.1.pdf>

### **BlockSec Full Audit** <a href="#id-40ca" id="id-40ca"></a>

<https://github.com/blocksecteam/audit-reports/blob/main/solidity/blocksec_penpie_v1.0-signed.pdf>

### **SlowMist Audit** <a href="#c99e" id="c99e"></a>

<https://github.com/slowmist/Knowledge-Base/blob/master/open-report-V2/smart-contract/Penpie%20Contracts%20Exploit%20Fixes%20-%20SlowMist%20Audit%20Report_en-us.pdf>

### **Zokyo Audit** <a href="#d1fe" id="d1fe"></a>

<https://zokyo.io/reports>

## **2025 Audits**

### AstraSec

<https://github.com/astrasecai/audit-reports/blob/main/AstraSec-AuditReport-Penpie.pdf>

<https://github.com/astrasecai/audit-reports/blob/main/AstraSec-AuditReport-Penpie-v1.12.pdf>

### BlockSec

<https://github.com/blocksecteam/audit-reports/blob/main/solidity/blocksec_penpie_v1.0-signed.pdf>

#### Note

Penpie also leverages the [Olympix](https://www.olympix.ai/) security stack.


# Real Time Monitoring

Real Time Monitoring

## **Hypernative**

As part of our security enhancement measures, Penpie has integrated with Hypernative,

Hypernative halts zero-day cyber-attacks and economic threats, protecting digital assets, securing protocols, and Web3 applications.

Hypernative Website: <https://www.hypernative.io/>

<figure><img src="/files/gphHLcPTcAzLPMBOoXFs" alt=""><figcaption></figcaption></figure>

Security features

## Security Measures Provided by Hypernative <a href="#id-2011" id="id-2011"></a>

### **1. Ownership Transfers Monitoring** <a href="#id-16be" id="id-16be"></a>

Any change in ownership of critical contracts, such as **PendleStaking** and **MasterPenpie**, is flagged immediately. This ensures that unauthorized ownership transfers are prevented, mitigating risks of hostile takeovers or governance attacks.

### **2. New Pendle Pool Registration Alert** <a href="#id-137a" id="id-137a"></a>

We receive **instant alerts** if any new Pendle pools are deployed by an entity other than the Pendle Deployer. This preemptive measure prevents unauthorized pools from being registered and ensures that **only verified pools** are integrated into our system.

### **3. Pendle Market Balance Mismatch Detection (With Auto Pause)** <a href="#ec3a" id="ec3a"></a>

If the PENDLE market balance in **PendleStaking** does not align with the total supply of Penpie receipt tokens, an alert is triggered, and our system immediately pauses operations. This monitoring mechanism ensures a 1:1 balance, preventing potential exploits due to market discrepancies.

### **4. Key Function Monitoring** <a href="#id-1286" id="id-1286"></a>

We track the frequency of critical function calls in **PendleStaking** and **MasterPenpie** across all supported chains. Sudden spikes in function executions can indicate bot activities, flash loan manipulations, or attempted exploits, triggering an immediate security response.

### **5. Big Deposits or Withdrawals in Penpie** <a href="#d785" id="d785"></a>

Transactions involving **$500K or more** are flagged for review. Large deposits or withdrawals could be a sign of system abuse, contract vulnerabilities, or ongoing exploits, and our system ensures swift action if anomalies are detected.

### **6. Large Pendle Transfers to Rewarders** <a href="#d5cd" id="d5cd"></a>

A **security alert** is triggered if PENDLE token transfers exceeding $100K are made to a rewarder in a single transaction. This prevents potential unauthorized distributions or reward exploitation.

### **7. Rewards Stuck in PendleStaking** <a href="#id-969a" id="id-969a"></a>

Our monitoring system ensures that PENDLE token rewards are distributed properly and do not remain stuck in **PendleStaking**. If rewards accumulate abnormally, we intervene to maintain protocol efficiency and user expectations.

### **8. Pendle LP Transfer Alert (With Auto-Pause)** <a href="#c7e8" id="c7e8"></a>

We track Pendle-LP token transfers to rewarders to prevent potential exploitation of user-staked assets. If any Pendle LP is transferred unexpectedly, **our system pauses operations immediately**, ensuring that only legitimate rewards are distributed and preventing unauthorized allocations.

### **9. Alert for Minting mPENDLE** <a href="#id-09d5" id="id-09d5"></a>

To maintain the integrity of our system, we monitor the minting of mPENDLE tokens to ensure that it is always backed by an equivalent deposit of PENDLE tokens. This prevents unauthorized minting, dilution, or exploitation risks related to excessive token issuance.<br>


# Timelock

Penpie has implemented Timelock controller contracts as the owner of its proxyAdmin contract. In simple terms, this means Penpie contracts can no longer be upgraded instantly. Any contract upgrade now requires a minimum 3-day lock period — once an upgrade request is submitted, it can only be executed after at least three days.

This strengthens security, preventing scenarios where attackers swiftly upgraded contracts with malicious versions to execute an exploit. With this safeguard in place, any scheduled upgrade to Penpie’s core contracts will undergo a mandatory 3-day review period, giving us ample time to assess the changes and cancel any upgrade if necessary.


# History

Previous PENPIE Gitbook information.


# BNB Chain

How to buy PNP on BNB Chain

## Here you will find how to:

🔹 Buy $PNP on Pancakeswap

🔹 Provide PNP-BNB liquidity on Pancakeswap


# PancakeSwap

Buy PNP on PancakeSwap

**1.Enter** [**PancakeSwap**](https://pancakeswap.finance/swap?outputCurrency=0x5012c90F14d190607662CA8344120812Aaa2639D)

**2.Connect your Wallet**

<figure><img src="/files/1UvqEaB9hdzqOPZ0LqJm" alt=""><figcaption></figcaption></figure>

**3.Enter $BNB or $PNP amount**&#x20;

<figure><img src="/files/pCUFShmZ0Eia0wFqfpOP" alt=""><figcaption></figcaption></figure>

**4.Click Swap**

<figure><img src="/files/RfhhZfTwL3BAAxhoaJtw" alt=""><figcaption></figcaption></figure>

**5.Confirm the transaction in your wallet**

<figure><img src="/files/CLKMnqElrcY8SWJwfwSP" alt=""><figcaption></figcaption></figure>

**6.PNP amount will appear in your wallet once transaction completed.**

<figure><img src="/files/VNqV3vNrCDnx2JK4SHzw" alt=""><figcaption></figcaption></figure>


# Provide PNP-BNB liquidity on PancakeSwap

Provide PNP-BNB liquidity on PancakeSwap

**1.Enter**[ **Pancekeswap Liquidity Page**](https://pancakeswap.finance/add/0x5012c90f14d190607662ca8344120812aaa2639d/0xbb4cdb9cbd36b01bd1cbaebf2de08d9173bc095c/2500?chain=bsc\&minPrice=0.004236934382697805\&maxPrice=0.007905466400831940) **and connect your wallet**

<figure><img src="/files/0hwcJTv3GDibFeuuotHC" alt=""><figcaption></figcaption></figure>

**2.Enter**[ **$**](https://pancakeswap.finance/add/0x5012c90f14d190607662ca8344120812aaa2639d/0xbb4cdb9cbd36b01bd1cbaebf2de08d9173bc095c/2500?chain=bsc\&minPrice=0.004236934382697805\&maxPrice=0.007905466400831940)**PNP or $BNB amount**

<figure><img src="/files/Ng9xnQ219yol3Z9ll7za" alt=""><figcaption></figcaption></figure>

**3.Set Price Range for your liquidity**

<figure><img src="/files/tEj6P7K9nG67uemN6ckP" alt=""><figcaption></figcaption></figure>

**4.Click "Enable PNP"**

<figure><img src="/files/165GpcvS2iy0X2gmOKnF" alt=""><figcaption></figcaption></figure>

**5.Approve PNP spending cap on your wallet**

<figure><img src="/files/Ao8o4fT0Q1xqLx7z5Jky" alt=""><figcaption></figcaption></figure>

**6.Click '"Add"**&#x20;

<figure><img src="/files/k4qKjFezzqujM4JulNbm" alt=""><figcaption></figcaption></figure>

**7.Click "Add"in pop up menu**

<figure><img src="/files/C5OBk9lRIzYfUl0w44AB" alt=""><figcaption></figcaption></figure>

**8.Confirm transaction on your wallet and done!**

<figure><img src="/files/HtriUGxyXJ7ImTPipr9s" alt=""><figcaption></figcaption></figure>


# Launchpad on Camelot

Information about the PNP token IDO

<figure><img src="/files/ExQbKtXOry5G3c4nwFQC" alt=""><figcaption><p>PNP IDO on Camelot Launchpad</p></figcaption></figure>

**The IDO for $PNP will start on Monday, June 12th, 2023, at 12pm UTC** and will conclude on Wednesday, June 15th. We are honored to launch the PNP token on Camelot, which is highly regarded as the leading native DEX on Arbitrum. Users will be able to participate by contributing ETH on the Launchpad. This event represents a significant milestone, further elevating the Penpie ecosystem and solidifying its prominence in the field moving forward.

### **PNP IDO Allocation** <a href="#id-8fda" id="id-8fda"></a>

Here we share the allocation of our upcoming PNP IDO. The distribution has been strategically planned to ensure a diverse and robust token ecosystem.

* **xGRAIL: 35%** — As governance stakeholders of Camelot Exchange, xGRAIL holders will have the chance to participate in the PNP token IDO, sharing a 35% quota. This will enable users of Camelot Exchange to gain governance authority over Pendle Finance through PNP.
* **mPENDLE: 30%** — As key contributors to Penpie, mPENDLE holders have played a vital role in providing Penpie’s vePENDLE, allowing the platform to offer optimized benefits within the DeFi space. In recognition of their direct impact, mPENDLE holders and stakers will be eligible to share 30% of the total PNP tokens for sale.
* **vlMGP: 25%** — As valued governance stakeholders in Magpie, vlMGP holders are granted the opportunity to participate in the PNP token sale. They will be eligible to share 25% of the total PNP tokens for sale, reflecting their integral role in the decision-making process for the platform.
* **Liquidity Providers: 10%** — Liquidity providers are an important aspect of the success of Penpie, as the platform’s PENDLE emissions are directly correlated to the TVL within protocol. To acknowledge their importance, Penpie liquidity providers will be granted access to share 10% of the total PNP tokens for sale.

### **Launch Details** <a href="#id-9ade" id="id-9ade"></a>

There will be 3 phases on the PNP IDO. Once the sale reaches 600K hard cap the sale will be automatically over.

**Whitelist Sale (Penpie Priority Access)** The Whitelist sale will last for 24 hours.

* **1st Stage:** Whitelisted users can invest up to their allocated IDO quota.
* **2nd Stage:** During the last 12 hours of the first 24 hours of IDO, whitelisted users can allocate 5x their IDO quota, (FCFS).

**Public Sale**

* **3rd Stage:** After the first 24 hours, the public sale will start. If the IDO reaches 600K hard cap during the whitelist sale there won’t be any public sale.

### **IDO Information** <a href="#a7aa" id="a7aa"></a>

* **Platform:** Camelot Launchpad
* **Hard Cap:** 600K
* **FDV**: 3M
* **Network:** Arbitrum
* **Deposit:** ETH
* **Allocation:** 2,000,000 PNP (20% of total supply)
* **Vesting Details:** 30% Unlock at TGE, rest 1 Year Linear Vesting

### **Tokenomics (Distribution)** <a href="#ccc7" id="ccc7"></a>

<figure><img src="/files/mECRcPiKc9MwOhid9z7d" alt=""><figcaption><p>PNP Distribution</p></figcaption></figure>

### **PNP Token** <a href="#e6c8" id="e6c8"></a>

PNP stands as the governance and active user engagement rewards token of Penpie. It embodies a unique blend of decision-making power and rewards distribution ability, facilitating a harmonious interaction within the ecosystem.

Users can lock PNP on Penpie as Vote-Locked PNP (vlPNP). Holding vlPNP allows users to not only earn rewards for active participation but also engage in the governance of Penpie and Pendle Finance. The token further democratizes the decision-making process, distributing the voting power that Penpie has accumulated from vePENDLE equitably among vlPNP holders. vlPNP token holders will have the benefit of voting for different pools to easily monetize their governance rights through the Penpie bribery market.

### Q\&A

Q: When will PNP be listed after IDO?\
A: PNP is expected to be listed on Camelot in the week of Jun 19 2023. Please stay tuned for further announcement.

Q: Where can I claim and check my 70% of purchased PNP in vesting?\
A: There will be a tab under [claim page](https://www.pendle.magpiexyz.io/claim) for IDO participants to check and claim vesting PNP.

Q: If I did not have a chance to participate PNP IDO, where can I get PNP?\
A: You can buy on Camelot once listed or deposit on Penpie to start earning PNP.

<br>


# Voting Market Partners

By joining as partners for the Penpie Voting Market and offering incentives to voters, our partner protocols can enhance their liquidity on Pendle Finance. This approach not only fosters a more robust environment for users on the platform, but also efficiently boosts the liquidity within their respective pools.

## **1. Curve Finance** <a href="#d9be" id="d9be"></a>

<figure><img src="/files/PJjr1Vmgs5Uo58SBSaEp" alt=""><figcaption></figcaption></figure>

## 2. Stader Labs <a href="#d9be" id="d9be"></a>

<figure><img src="/files/OdUJaWCdFyuiG52bzQ8Q" alt=""><figcaption></figcaption></figure>

## &#x20;3.KelpDAO <a href="#d9be" id="d9be"></a>

<figure><img src="/files/jEeIFIadmIZbAssy6qG6" alt=""><figcaption></figcaption></figure>

## 4.Gains Network <a href="#d9be" id="d9be"></a>

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/1*Hpux4xvFOhcatF9lA1WR9w.jpeg" alt="" height="394" width="700"><figcaption><p>Penpie × Gains Network</p></figcaption></figure>

## 5.Ether.fi <a href="#d9be" id="d9be"></a>

<figure><img src="/files/YD7mQI9q3AVXwH5HmiYR" alt=""><figcaption></figcaption></figure>


# Lucky Convert Wheel

Convert PENDLE tokens into mPENDLE and Spin the Wheel to get PNP rewards!

<figure><img src="/files/VTRhOPyCiKgPbnBECQLJ" alt=""><figcaption><p><a href="https://www.pendle.magpiexyz.io/luckySpin">Spin the Wheel now!</a></p></figcaption></figure>

## Spin The Wheel <a href="#id-31e4" id="id-31e4"></a>

Users converting $PENDLE tokens into mPENDLE can [spin the wheel](https://www.pendle.magpiexyz.io/luckySpin) to get $PNP rewards for each converted $PENDLE token. The Lucky Convert Wheel uses the [Smart PENDLE Converter](https://blog.penpiexyz.io/the-smart-pendle-converter-is-out-b3f50b39e5ec), and users will receive more than one mPENDLE token for each PENDLE converted if the mPENDLE peg is below 95% at the moment of conversion. **50% of the mPENDLE will be converted directly, and the remaining 50% will be converted through the Smart PENDLE Converter.** This innovative feature aims to attract more PENDLE holders by providing an engaging and enjoyable way to convert their tokens into mPENDLE while earning PNP rewards.

## **Reward Mechanism and Probabilities** <a href="#d68d" id="d68d"></a>

The Lucky Convert Wheel is a system devised to allocate rewards based on a probabilistic framework. This framework is constructed such that with each ascending reward bracket, the likelihood of obtaining higher-tier rewards decreases. This design inherently makes the higher-tier rewards more coveted and challenging to attain, thus adding an element of excitement and anticipation.

In essence, as participants advance through the reward brackets on the Lucky Convert Wheel, they encounter a diminishing probability of securing the more lucrative rewards. This setup ensures a balanced distribution of rewards, making the process engaging while maintaining a level of fairness and intrigue. **Rewards must be claimed within 24 hours after each spin. Otherwise, the rewards will be forfeited.**

## **Distribution** <a href="#id-4717" id="id-4717"></a>

The distribution of reward probabilities on the Lucky Convert Wheel is structured in a predefined manner, which could be illustrated as follows:

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/1*5bVu--sBVM4-yLpwdmQwhw.png" alt="" height="357" width="700"><figcaption><p>Reward probability</p></figcaption></figure>

## Guaranteed Fairness <a href="#ec50" id="ec50"></a>

Rest assured that the conversion process within the Lucky Convert Wheel feature is conducted on-chain, ensuring the utmost fairness. This is achieved through the implementation of [**Chainlink VRF (Verifiable Random Function)**](https://docs.chain.link/vrf). The use of **Chainlink VRF** guarantees that the probabilities on the Convert Wheel are genuinely random and verifiable, providing a transparent and trustworthy experience for all participants.

## **Conversion limits on the Lucky Convert Wheel:** <a href="#id-01c0" id="id-01c0"></a>

* **Minimum Conversion Amount:** The minimum amount that can be converted at one time is **100 PENDLE tokens.**
* **Maximum Conversion Amount:** The maximum amount that can be converted at one time is **10,000 PENDLE tokens.**

These limits ensure a balanced and controlled conversion process within the Convert Wheel feature.

## **Boost Factor** <a href="#eb16" id="eb16"></a>

The reward structure of the Lucky Convert Wheel is designed to show appreciation to our dedicated supporters. When users deposit [**mPENDLE LP from Pendle Finance**](https://blog.penpiexyz.io/the-mpendle-pool-joins-the-pendle-finance-lineup-ee95d38e851b) into the mPENDLE liquidity pool on Penpie, they activate a boost factor on the Lucky Convert Wheel, enhancing their potential rewards. The boost factor’s value rises with higher mPENDLE LP deposits. The detailed breakdown of boost factors is provided below, showcasing how different levels of deposits correlate with varying reward multipliers, making the reward system transparent and encouraging for users.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/1*mELC_UjUkZZiwrv9oeqxEQ.png" alt="" height="173" width="700"><figcaption><p>Deposit mPENDLE LP on Penpie and boost your Lucky Convert Wheel rewards</p></figcaption></figure>

### **EXAMPLE:** <a href="#e779" id="e779"></a>

For example, if a user has deposited 6000 mPENDLE LP on [**Penpie’s**](https://www.pendle.magpiexyz.io/stake) liquidity pool, and the spin result is 0.03, with a converted PENDLE amount of 1000, the final PNP reward amount can be calculated as follows:

**- User’s mPENDLE LP deposit:** 6000 (1.2x boost, according to the table)

**- The result of Spin:** 0.03

**- The converted PENDLE amount:** 1000

1000 (PENDLE) x 0.03 = (30 PNP) x 1.2 (Boost) = **36 PNP**

**Despite the presence of chance mechanics, the Lucky Convert Wheel is not a gambling tool, as there is no losing scenario involved.** This novel addition aims to boost the conversion of PENDLE into mPENDLE, simultaneously providing users with an engaging experience as they try their fortune to gain additional PNP rewards. Convert your PENDLE into mPENDLE through the Lucky Convert Wheel and unleash the full potential of your chances to win PNP rewards. Don’t forget to deposit mPENDLE LP into the liquidity pool on Penpie to increase your boost factor and maximize your opportunities!