Magpie and Drip Protocol

A Launchpool taking Flight

Are you all ready to $FLY? 🐦

Magpie is incredibly eggcited to announce a collaborative Launchpool with Drip Protocol! If you haven’t heard of Drip, they make launchpools accessible on-chain and supercharge them with yield from LSTs and DeFi, creating win-win scenarios for both projects and their communities. This Launchpool will lead up to our TGE and continue on afterwards until the Launchpool concludes, which will be two months.

Ready to join already? Flap those wings over to Drip and start now! 👇

WETH pool, here.

USDC pool, here.

What is a Drip Protocol Launchpool?

To keep it short and simple, Drip hosts Launchpools wherein users can stake WETH or USDC into a pool and earn points over a period of time to be converted into the $FLY token (with no cliff or vesting period) and the tokens will be airdropped to the user. Magpie’s Launchpool will start at 15,000,000 points to be distributed to those who stake their assets and cap at 0.8% of the total supply. The Launchpool has no lock and assets can be withdrawn at any time, so if you need the funds, simply withdraw them, and re-stake at any time!

We’ve got some extras as well for our pool: stretch goals (think Kickstarter) and NFT modifiers.

Stretch Goals

We here at Magpie want to be sure to keep it more fair and equitable as the total value locked goes up, so in order to be sure there are plenty of points to go around, we’ve implemented some stretch goals rather than capping the points distribution at 30 million no matter how much is staked.

Keep in mind these are total points allocated, meaning that the maximum number of points distributed is 80,000,000.

NFT Modifier

We love our flock members, so of course we’ve got a sweet bonus for all our Mafia Birds out there. If you have a Magpie Mafia NFT, you’ll get a 20% staking boost if you’re using the same wallet that owns the Magpie Mafia NFT to stake in the Launchpool.

If you happen to have a Lobster DAO, Wassie, or Pudgy NFT in the wallet used to stake in the Launchpool, you’ll earn a 10% staking boost.

Join Us!

As a point of clarification for those wondering, Magpie Mafia experience points are completely separate from the points earned from staking on Drip Protocol. The Magpie Mafia XP is not being replaced or changed and users will receive $FLY from participating in both, by earning XP through swaps on the Magpie dApp while holding a Magpie Mafia NFT or by staking their WETH or USDC through the Launchpool on Drip Protocol.

We’re thrilled to be launching this Launchpool in collaboration with Drip Protocol and hope to see our community members, especially those in the Magpie Mafia (earn those extra points!) join in on the Launchpool to earn yourselves some $FLY tokens pre-TGE and without having to purchase anything! If you’d like to learn more about Drip Protocol and how exactly their launchpools work, flap on over to their blog post here to read more about it.