TL;DR
In keeping up with the last few weeks, I’m only dishing out solid alpha in today’s review. Discussing one of, if not, the most versatile projects under $50 Million Market Cap I’ve been able to locate. Today we’ll be talking about the Magpie DAO, a crypto whale secret that’s starting to get out. Looking at why the Magpie DAO is quickly becoming the premium choice for high yield-farming.
With so much more than just the Magpie token itself. Optimized yields through Magpie can be found for Wombat, Pendle, Radiant, PancakeSwap, and EigenLayer. Making Magpie DAO more like an onion with multiple layers to peel away.
Focused on prosperity and fostering collective contributions to the broader growth of the DeFi landscape. Magpie operates as a Treasury for all projects launched in its ecosystem. Supporting their financial and developmental growth.
What is Magpie DAO?
The Magpie DAO is a menagerie of products built around one simple thing. Supersizing the yields you can earn on products called SubDAOs.
Magpie creates individual frameworks for each project it supports. Keeping farmers separate from each other but still under the same roof. Offering Liquid Restaking Services for EVM Networks and soon, for Bitcoin.
The process is simple for getting optimized yields through Magpie DAO. Deposit any of the hundreds of supported tokens into any one of their SubDAOs to start receiving both MGP tokens and staking rewards from the original asset.
Lock up your MGP to earn additional yield and participate in the launch of the next SubDAO. With each having its own reward token attached, you can participate in the ongoing direction of all platforms simply by holding MGP. Use these tokens to earn rewards through Liquid Staking and Liquid Restaking on Magpie.
What is the Magpie Ecosystem?
For things to work properly, you need to have a jack-of-all-trades type of protocol. Liquidity Pools that are native and keep that self-custody aspect in place.
But are separated enough from each other that the failure of one doesn’t create a domino effect on the others.
From a single dashboard, you can navigate seven different protocols that operate across four different networks. Including the Magpie Treasury, where you can lock MGP to earn SubDAO rewards and enjoy early access to future IDOs.
Radpie
As each of the names suggests, every Magpie pool is an offset for an existing project. Opening that project up for higher returns on staked assets. RadPie taps into the liquidity offered by Radiant. One of the largest money pots on Solana.
However, RadPie is one of the smallest of the pools offered by Magpie with around $24 Million locked into the protocol. To learn about how any of these pools work. Check out DeFi Dad’s Radpie Guide. While it focuses only on Radpie, the same framework can be used to get the best yield from any of the Magpie protocols mentioned.
Wompie
Wombat is a capital-efficient DEX that conducts swaps with minimal slippage at great rates. It makes use of the Pyth and Wormhole protocols to facilitate swaps across seven different networks. While Wompie is the smallest of the bunch with just under $16 Million in deposits. It also has some incredible yields of up to 150%.
Cakepie
Already be familiar with Cakeswap from our Is PancakeSwap Safe…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
