💡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.