Decentralized Finance is the topic of discussion because of the innovative character of its services which are inclusive (everyone can get the same service, without minimum transactions), open source (transparent, everyone can contribute), non-custodial (service providers do not store data and do not have access to funds from customers) and does not have a middleman because it is regulated by a smart contract so that it saves a lot of costs and has a very flexible space in determining interest rates for both lenders and funders.
And today I would like to invite you to get acquainted with one of the governance token platforms.
Yups, It’s a Magic Balancer,
What is the platform like?
Let’s find out ….
What is Magic Balancer ?
Magic Balancer is a deflationary governance DEFI token that provides exceptional rewards to active users through smart contract protocols, while seamlessly integrating transaction rewards with liquidity rebalancing features.
The MGB token is designed to be sustainable and maximize its value by being truly deflationary and encouraging users to be active while offering exceptional rewards. Every reward token that MGB allocates never compromises the overall supply, which means that the growth of the MGB token will never be difficult. Each Magic Balancer protocol is built to be 100% distrustful and does not require human intervention to operate. This ensures that all Magic Balancer protocols can run forever and will never be disabled by human intervention. This also means that you, as a token holder, will never have to trust anyone for any reason. The only thing you can trust in the crypto space is the code, it never lies,
The best crypto projects are those that provide 100% unreliable protocols and prove this fact with complete code transparency. This is exactly what Magic Balancer offers, this is our core belief and the only way to ever release protocols.
Magic Balancer ensures that its cost per recharge is constantly increasing in value. This is done by temporarily removing some of the liquidity from the MGB / ETH pair, market buying MGB with ETH, and then burning all the remaining MGB. Essentially, the balance of the Uniswap MGB / ETH pair is being restored and the value of the MGB increased relative to ETH.
The MGB token comes from the community and is a flexible community driven project and the future governance of the community can only be achieved through voting.
Magic Balancer Features
- Rebalance
Every rebalance $MGB token price can raise up to %2. This can be happens every hour up to 24 times a day! After 1 week Presale end 1 $MGB worth of $4000 for this mechanism. - Exchange
The exchange is an automated market maker (“AMM”) that allows two tokens to be exchanged on the Binance Smart Chain and Ethereum Mainnet. - ETH ~ BSC Bridge
Mechanism that enables token exchange between cross chains without any impermanent loss.
Magic Balancer Roadmap:
Q1 2021
- Development of tokenomics and functions
- Development of the contract, front-site and dAPP.
- Writing white paper
- Pre-sale
- Launch of MGB at Uniswap and Pankeswap.
- Start an influential marketing campaign
- Community Development and Partnership Generosity Campaign
Q2 2021
- ETH ~ BSC bridge
- Reliable project partnership
Q3 2021
- MagicSwap launch
- Creating an MGB DAO for Management
- Transfer of ownership under a management agreement
Q4 2021
- Preparing a roadmap for 2022
The $MGB Token
$MGB’s KEY mechanic ensures that it’s uniswap price is constantly increasing in value (Assuming Market pressures are neutral). This is done by temporarily removing a portion of liquidity from the $MGB /ETH pair, market buying $MGB with the ETH, then burning the entirety of the remaining $MGB. Essentially rebalancing the Uniswap $MGB /ETH pair and raising the value of $MGB in relation to ETH.
This token is designed specifically to be integrated into Necromancer’s ecosystem.
The $MGB token is extremely simple and only has two functions.
- Function A
1% added to liquidity on sells, buys and txn’s ~ This allows us to constantly have liquidity to execute Function B.
LP Rewards
~ Each time function two is called, all $MGB from function one is distributed to LP providers.
~ All you need to do to get these rewards is provide liquidity.
Once MagicSwap is released
All tax goes to an address to later be added to $MGB /rETH in MagicSwap
- Function B
Liquidity Buy and Burn
Function becomes available once an hour and can be called by anyone.
Caller of the function will receive 5% of the $MGB for incentive to spend Gas.(%1 for BSC)
When function is called:
- 2% of liquidity is removed
- The liquidity is then split into ETH and $MGB
- ETH market buys $MGB
- 95% of the MGB is then burned
- 5% of MGB sent to caller of the function (to incentivize user spending gas, for BSC %1)
Tokenomics
Tokenomics for ETH Chain
- 300,000 MGB — Total Supply https://etherscan.io/token/0xf4f3d6a60765bf705b27716f50fccba5f0ea0ca1
- 150,000 MGB — Presale
- 85,000 MGB — Initial Liquidity
- 35,000 MGB — Marketing, Promotions and Community Engagement.
- 30,000 MGB — Team Tokens
- Presale — 1 ETH = 999 $MGB ($1,9 )
- Presale Max Buy = 3 ETH ($5,700)
- Initial Listing — 1 ETH = 799 $MGB ($2.38) ~ %25 higher than presale
- Presale Hardcap = 30 ETH ($57,000)
- 70% ETH (21 ETH — $39,900) provided towards liquidity.
- 20% ETH (6 ETH — $11,400) provides future development, partnerships, marketing, community building, cex listing and expanding team.
- 10% ETH (3 ETH — $5,700*) presale referral rewards.
Tokenomics for BSC
- 300,000 MGB — Total Supply https://bscscan.com/token/0xf78839b9e972cf15014843a7ca5ebf1e321a284c
- 150,000 MGB — Presale
- 85,000 MGB — Initial Liquidity
- 35,000 MGB — Marketing, Promotions and Community Engagement.
- 30,000 MGB — Team Tokens
- Presale — 1 BNB = 99 $MGB ($2,5 )
- Presale Max Buy = 30 BNB ($7,500) ~ No min amount
- Initial Listing — 1 BNB = 79 $MGB ($3,16) ~ %25 higher than presale
- Presale Hardcap = 300 BNB ($75,000)
70% BNB (210BNB — $52,500) provided towards liquidity. - 20% BNB (60 BNB — $15,000) provides future development, partnerships, marketing, community building, cex listing and expanding team.
- 10% BNB (30 BNB — $7,500*) presale referral rewards.
Magic Balancer Community
Official Website : http://magicbalancer.org/
Whitepaper : https://github.com/MagicBalancer/Whitepaper/blob/main/whitepaperv1.pdf
Telegram : https://t.me/magicbalancer
Github : https://github.com/magicbalancer
Medium : https://wizarddefi.medium.com/
Twitter : https://twitter.com/magicbalancer
Snapshot : https://vote.magicbalancer.org
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