Magic Balancer
Get Rewards through Magic Balancer
introduction
Greetings back friends. I want to give a little idea about the coming of this very extraordinary project that has given all of us a chance. And we all over the world know how difficult it has been to solve economic problems during the Covid pandemic to date. And in the midst of the Covid-19 pandemic, not all business sectors have been affected, but some are increasingly showing an increase in income. One of them is the DeFi project. This project was developed in 2019.
After the birth of cryptocurrency, DeFi tokens (decentralized financial tokens) have plagued the financial sector throughout 2020. While many projects are still in their early stages of development, DeFi tokens have emerged and caused frenzy in the crypto market which of course reminds us of the Bitcoin euphoria. , Ethereum, and others in 2017. Decentralized Finance or DeFi is a system that aims to provide financial services that are open, unlicensed, transparent and available to everyone without centralized authority.
This can be done by DeFi because the smart contract technology behind it allows developers to build functionality that is much more sophisticated than simply sending or receiving digital currency. DeFi can be a global alternative to any financial service in use today. For example, savings, loans, trade, insurance and others can be accessed by anyone in the world only by using a smartphone and an internet connection, so let's dig deeper into the world of DeFi through the strongest companies below:
About the Magic Balancing Project?
- Magic Balancer
Magic Balancer is a deflationary governance DEFI token that rewards active users via the Smart Contract protocol, while seamlessly combining transactional rewards with liquidity rebalancing features. MGB tokens are designed to be sustainable and maximize their value by actually deflating and encouraging users to be active by offering amazing rewards. Each reward distributed by MGB tokens never hurts the overall supply, this means that the growth of MGB tokens will never be hindered in any way. Every Magic Balancer protocol is built to be 100% untrustworthy and requires no human interaction to keep it running.
In essence, MGB charges a 1% transaction fee and redistributes the fee to existing MGB holders instantly and automatically at the time of each transaction.
The unique feature of MGB smart contracts allows certain addresses such as Uniswap pools or exchange wallets to be blocked from being charged. Due to this, 100% of the fees generated go to token holders. The percentage of fees you write off is calculated by the percentage of MGB you have among token holders. This yields a much higher yield than is possible.
There is no team or central party to charge fees. There is no interface for claiming fees. You don't need to take any action other than to store MGB in the wallet you control.
Token $ MGB
The MGB KEY mechanic ensures that uniswap prices continue to increase in value (Assuming neutral Market pressure). This is done by temporarily removing a portion of the liquidity from the MGB / ETH pair, buying the market MGB with ETH, then burning the entire remaining MGB. Basically rebalancing the Uniswap MGB / ETH pair and increasing the MGB value in relation to ETH.
This token is specifically designed to be integrated into the Necromancer ecosystem.
The MGB token is very simple and has only two functions.
Token info
- Ticker: MGB
- Platform: Binance Chain, Ethereum
- Token Type: Utility
- Available for sale: 150,000 MGB (50%)
- Total supply: 300,000 MGB
Finance
- Harga ICO: 1 MGB = 0.001 ETH
- Receiving: ETH, BNB
- Hard cap: 30 ETH
What is Binance Smart Chain?
With the enormous Ethereum gas price, we wanted to provide a way to help combat them with the ability to trade on the BSC blockchain. Transaction fees are very low when compared to the same transaction fees on ethereum, a BSC transaction can be as low as 5 cents.
We want to give all MGB holders the opportunity to build a 2 and usable ecosystem despite the bottlenecks and costs that sometimes suffer when using the ethereum blockchain.
Is There a Code Difference Between the ETH-BSC Chain?
No, there is no fundamental difference between the two chains but there are minor value modifiers (eg% 1 reward funchion caller for BSC)
What is the difference between the BSC ecosystem and the ETH ecosystem?
Since each blockchain has its own ecosystem, the two chains have their own lives, this means that the prices in the BSC may not always be the same on the ETH blockchain.
Will there be a BSC to ETH bridge?
Yes, we are planning to launch our own MGB token bridge which will allow you to swap your BEP20 MGB for ERC20 MGB and vice versa. But until this is done, you won't be able to trade the entire chain.
How do I interact with the BSC contract at Magic Balancer?
Just change the network on your Metamask or use a BSC wallet to connect our site. For the BSC we are currently developing a magic balancer for the ethereum network.
Did the Magic Balancer Team develop its own BSC swap?
Yes, the BSC exchanges we use are tailor-made by the development team, who are best placed to handle our custom token metrics and provide the best possible security. There's a built-in LP lock inside the swap too so you can be sure that all LPs are locked for 90 days at a time. The current swap is very limited in its ability to handle trades with tokens which have special metrics so we need to develop our own swaps to suit our mechanism. We also improved our repurchase structure with our own swaps as we coded the repurchase capability to be able to remove only the MGB amount from LP, saving a lot of steps in the repurchase process.
Vital Records:
- 0 Swap fees.
- % 2 amount of slippage required.
- Built in 90 days LP lock, read “get user key” function then enter MGB contract address and click query for LP unlock time.
- Flashloan and Flashswap are protected, designed for user interaction only.
No liquidity required for functionality.
- Governance
- Proposal di Snapshot
- The MGB token comes from the community and is a flexible project driven by the community. MGB is a community governance token, and future community governance can only be achieved through an MGB vote.
Recommended process for initiating a proposal:
- Put the draft proposal on our Telegram group chat.
- Do off-chain exploration after going through the discussion.
- Publish proposals on the gevernance forum and revise their content.
- Create governance contracts and campaigns to get votes in the MGB community.
- Treasury Liquidity
- MGB liquidity is collected via pre-sale and if the hardcap reaches (150ETH) it amounts to around 105 ETH (% 70).
- 0% of any amount collected in the pre-sale is automatically sent to the contract address.
Use the createUniswapPair developer function and register MGB tokens on uniswap with the liquidity collected. The LP token will replenish the LP token in addition to the MGB contract to ensure that the rebalancing function will continue to function for a certain period of time.
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