•What is Magpie Protocol ?

Magpie Protocol is a decentralized liquidity aggregation protocol for cross-chain swaps. It provides the best deal on any asset, across the top blockchains, all without the need to bridge any assets.

It does this by sending messages using the generic messaging layer (by @wormholecrypto and @StargateFinance ) to initiate a swap cross-chain. Rather than requiring users to lock or burn tokens and then mint them on the destination chain,

Magpie uses stablecoin liquidity pools and the Magpie liquidity aggregation protocol, both deployed on all of the most popular chains, to initiate swaps for the desired token.

Magpie Protocol has raised $3 million in a seed funding round led by @jump_, @paraficapital, @sandeepnailwal, and @RepublicCrypto

• Magpie Protocol Token $FLY

Magpie Protocol has its own token called $FLY. While there is no information available about the tokenomics of FLY at this time

But it has been announced that there will be airdrops for OG users. (You can earn this role by participating in contests.) : https://twitter.com/magpieprotocol/status/1559555580619923457?s=61&t=4yB9DUVSYO3yqI_muNrmPg

⎘ “To become an OG user and increase your chances of receiving an airdrop, provide feedback and use the platform during the public alpha.Additionally, users can earn points by making transactions (swaps or cross-chain) and trading on the platform. These points Might be converted into $FLY at a later time.”

• What to do ?

Users can earn points by making transactions:

A cross-chain transaction is worth 100 points, while a swap within a chain is 50 points. Repeating a previously traded token on the same chain is 5 points. The minimum volume for trading and earning points is $10

• Whitelist Yourself

For accessing Alpha you have to whitelist yourself : magpiefi.xyz/waitlist

⏤ Enter email⏤ Discord⏤ and wallet Address

⎘ “Soon you will receive invite link + password”

•Access Alpha

⏤ Open magpie email (hence receive)⏤ Launch app⏤ and Enter Password to access

⎘ “You can also use mine 🫣”

• On-Chain Swap ( Worth 50 points )

⏤ Select a network you would like to swap

⏤ Select a Token you would like to swap

⏤ And swap it

• Cross-Chain Swap (Worth 100 points)

⏤ Select Network and Token just you did in previous step⏤ But select a different chain in the receiving network

⏤ Give token Approval and swap it..

⎘ “If you use same chain again 10 points and same token too 5 points, Additionally each transection reward is worth 10 point and you have to perform this task with minimum 10$”

𝌈 You can perform this task daily to gain your rank

⎘ “Leaderboard will available soon….”

Clapp 👏 it if you seeing this on medium and collect for free at** mirror**

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