The wMLP vault is based on the latest Yearn vault architecture. It accepts staked MLP for deposits with a simple strategy, generating yield: deposit MLP into Morphex to earn esMPX + FTM and compound all FTM back into MLP. The esMPX rewards will be staked for esMPX + FTM + Multiplier Points, again sending the FTM yield to be further compounded into MLP, and staking the earned esMPX and MPs. The wrapper is fully liquid and users will be able to withdraw their principal MLP and any earned interest from the compounding of FTM at any time.
While the USD price of MLP tends to be stable, it may drift away from $1 for extended periods of time. See the MLP page (opens in a new tab) of our documentation for more information.