What is Magic Balancer.

 


Introduction

Decentralized Finance DeFi (decentralized finance) is an economic and financial paradigm that has breathed new life into the digital currency industry. DeFi blockchain technology is a financial ecosystem without central control and intermediaries, where users interact via peer-to-peer and DAPP networks.

The main role of decentralized finance is to enable everyone to actually use payment systems and financial products, like those of classic banks, regardless of nationality or financial situation. In addition, DeFi's significant advantages are the modular structure and interoperability between blockchains, which will allow the creation of the entire financial services market.

What is Magic Balancer ?

Magic Balancer is a deflationary governance DEFI token which provides exceptional rewards to active users via Smart Contract protocols, while seamlessly incorporating transactional rewards with liquidity rebalancing features.

MGB token is designed to be sustainable and maximize its value by being truly deflationary and encouraging users to be active by offering exceptional rewards. Every reward MGB token distributes is never detrimental to the overall supply, this means that the growth of MGB token will never be hindered in any way.

Every Magic Balancer protocol is built to be 100% trustless and require no human interaction to keep them running. This ensures that all of Magic Balancer’s protocols can run forever and never be shut down by the result of human intervention. This also means that as a token holder you never have to place your trust in any human for any reason.

Features

1. 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.

2. Exchange

The exchange is an automated market maker (“AMM”) that allows two tokens to be exchanged on the Binance Smart Chain and Ethereum Mainnet.

3. ETH ~ BSC Bridge

Mechanism that enables token exchange between cross chains without any impermanent loss.


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.

1. 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

2. 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

All functions and distribution are the same in both chains ;

1. Binance Smart Chain

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.

2. Ethereum Chain

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.

Magic Balancer Roadmap

Q1 2021
  • Develop tokenomics and features
  • Develop contract, front end website and dAPP
  • Write whitepaper
  • Presale
  • Airdrop
  • Launch $MGB on Uniswap and Pancakeswap
  • Start influencer marketing campaign
  • Community growth and bounty campaigns for partnerships
Q2 2021
  • ETH ~ BSC bridge
  • Secure project partnerships
Q3 2021
  • MagicSwap Launch
  • Create MGB DAO for governance
  • Transfer contract ownership to governance contract
Q4 2021
  • Preparing a 2022 future roadmap
  • Profit Mechanism

Example of REBALANCE (if 300 BNB @ $250.00 raised in presale)

~ $52,500 ~ 70% Liquidity On Listing

~ 2% LP Removed ~ $1,050

~ Split Into ~ $525 BNB & $525 MGB

~ 1% Of MGB Sent To Caller ~ $10,5

~ BNB Swaps For MGB~ $525

~ 90% Of MGB Burned ~ $945

Value Added (from example above)

~ $525 BNB Market Buy

~ $945 MGB Burned

~ $1,575Total Capital Rebalanced

This is stats from only a single Rebalance, Rebalance can happen up to 24 times per day.(with a minimum of 200 MGB tokens).

BSC-Metamask Setting

MetaMask was created out of the needs of creating more secure and usable Ethereum-based web sites. In particular, it handles account management and connecting the user to the blockchain. It’s supported in Chrome, Brave, and Safari browsers.

Connect Your MetaMask With Binance Smart Chain

1. Go to setting page

2. Add a new network


Magic Balancer Community

AUTHOR
Forum Username: seniman21
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=3240377
Telegram Username: @cryptoseni
ETH Wallet Address: 0x83Baa8310A39E499932c8170eEa56fa7e2D29445

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