Introduction
Decentralized Finance or DeFi is a system that aims to provide financial services that are open, unlicensed, transparent and available to everyone without a centralized authority.
This can be done by DeFi because the smart contract technology behind it can allow developers to build functionality that is much more sophisticated than just 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 using only a smartphone and an internet connection, so let's dig deeper about the ins and outs of the world of DeFi through the most powerful companies below:
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.
At its core, MGB charges a 1% transaction fee and re-distributes that fee to existing MGB holders instantly and automatically at the time of each transaction.
Unique features of the MGB smart contract allow certain addresses like the Uniswap pool or exchange wallets to be blocked from earning fees. Bicause of this, 100% of the fees generated go to holders of the token.The percentage of fees you erarn is calculated by the percentage of MGB that you own among holders. This generates a much higher yield than would otherwise be possible.
There is no team or central party that has to award the fees. There is no interface to claim the fees. No action needs to be taken on your part other than to hold MGB in a wallet you control.
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.
Token info:
Ticker: MGB
Platform: Binance Chain, Ethereum
Token Type: Utility
Available for sale: 150,000 MGB (50%)
Total supply: 300,000 MGB
Financial:
ICO Price: 1 MGB = 0.001 ETH
Accepting: ETH, BNB
Hard cap: 30 ETH
Why Binance Smart Chain?
Whith Ethereum gas prices astronomical at times we wanted to deliver a way to help combat them with the ability to trade on the BSC blockchain. The transaction fees are very low when compared to the same transaction cost on ethereum, BSC transactions can be as low as 5 cents.
We wanted to provide all MGB holders the opportunity to build a 2and ecosystem that can be used regardless of the congestion and costs that are sometimes suffered when using ethereum's blockchain.
Is There any Code Difference Between the ETH-BSC chains?
No, there is no fundamental difference between the two chains but there are minor value changer ( e.g. caller funchion reward %1 for BSC)
What Is the BSC ecosystem diferent then the ETH ecosystem?
Since each blockchain has it's own ecosystem, both chains have their own live, this means that price on BSC may not always equal the same on ETH blockchain.
Will there be a BSC to ETH bridge?
Yes, we are planning launching our own MGB token bridge that will allow you to trade your BEP20 MGB for ERC20 MGB and vice versa. However until this is completed you will not be able to trade across the chains.
How do I interact with BSC contracts on Magic Balancer?
Simply change the network on your Metamask or using BSC wallet to connect our site. For BSC we are currently developed the same as magic balancer for ethereum network.
Did Magic Balancer Team develop it's own BSC swap?
Yes, the BSC swap we are using was custom built by the development team,it is best situated to handle our custom token metrics and give the best scurity. There is built in LP locking on inside the swap as wellso you canbe assured that all LP is locked for 90 days at a time. Current swaps are very limited in their abilities when it comes to handling trading wit tokens that have custom metricsh so we needed to develop our own swap to custom fit our mechanics. We also enhanced the buyback strukture with our own swap as we coded in the ability for the buyback to be able to remove just the MGB amount from LP, saving many steps in the process of performing a buyback.
Important Notes:
0 Swap fees.
%2 required slippage amount.
Built in 90 days LP locking, read function "get user lock" then input MGB's contract address and click query for LP unlock time.
Flashloan and Flashswap protected, designed for user interaction only.
No liquidity providing necessary for functionality.
Governance:
Proposal on Snapshot
MGB token originates from the community and is a flexible communty-driven project. MGB is the governance token of the community, and future community governance can only be achieved through MGB voting.
A recommended process for initiating a proposal:
Put a draft of the proposal in our Telegram group chats.
Do an off-chain survay after through discussion.
Publish the proposal on the gevernance forum and improve its content.
Create a governance contract and campaign for votes in the MGB community.
Liquidity Treasury:
MGB Liquidity collected via pre-sale and if hardcap reached( 150ETH) the amount about 105 ETH ( %70).
70% of every amount colleted in pre-sale is automatically sent to the contract address.
The using the developer createUniswapPair function and listed MGB token on uniswap with collected liquidity. The vested LP tokens will replenish the LP token jnside the MGB contract to insure that the rebalance function will continue to work for a period of time.
Tokenomics for ETH Chain:
300,000 MGB - Total Supply https://etherscan.io/token/0xf4f3d6a60765bf705b27716f50fccba5f0ea0ca1
150,000 MGB - Pre-sale
85,000 MGB - Initial Liquidity
35,000 MGB - Marketing, Promotion and Community Engagement.
30,000 MGB - Team Tokens
Presale - 1 ETH = 999 MGB ($ 1.5 *)
Presale Max Buy = 3 ETH ($ 4,500 *)
Initial Listing - 1 ETH = 799 MGB ($ 1.88 *) ~% 25 higher than pre-sale
Presale Hardcap = 30 ETH ($ 45,000 *)
70% ETH (21 ETH - $ 31,500 *) is reserved for liquidity.
20% ETH (6 ETH - $ 9,000 *) provides future development, partnerships, marketing, community building, cex lists and expansion teams.
10% ETH (3 ETH - $ 4,500 *) pre-sale referral reward.
based on a price of ETH $ 1500.00
Tokenomics for BSC:
300,000 MGB - Total Supply https://bscscan.com/token/0xf78839b9e972cf15014843a7ca5ebf1e321a284c
150,000 MGB - Pre-sale
85,000 MGB - Initial Liquidity
35,000 MGB - Marketing, Promotion and Community Engagement.
30,000 MGB - Team Tokens
Presale - 1 BNB = 99 MGB ($ 2.5 *)
Presale Max Buy = 30 BNB ($ 7,500 *) ~ No min
Initial Listing - 1 BNB = 79 MGB ($ 3.16 *) ~% 25 higher than presale
Presale Hardcap = 300 BNB ($ 75,000 *)
70% BNB (210BNB - $ 52,500 *) is reserved for liquidity.
20% BNB (60 BNB - $ 15,000 *) provides future development, partnerships, marketing, community building, cex lists and expansion teams.
10% BNB (30 BNB - $ 7,500 *) pre-sale referral reward.
based on the BNB price of $ 250.00
Launching:
1. Starting in March. 2rd at 19:00 UTC. No need for a whitelist.
Held directly on magicbalancer.org, to participate simply connect your Metamask, enter the amount of ETH you want to send and click buy. MGB tokens will be returned immediately via our pre-sale contract. Metamask is preferred, don't use an exchange account.
2. No min, 3 purchases ETH-30BNB Max.
10% referral reward distributed instantly via pre-sale contract. Click the REFERAL button in the Presale section and copy your referral link (required to connect to the wallet)
Magic Balancing Roadmap:
For more information, please visit the link below:
Official Site: http://magicbalancer.org/
Telegram: https://t.me/magicbalancer
Github: https://github.com/magicbalancer
Twitter: https://twitter.com/magicbalancer
Governance: https://vote.magicbalancer.org
Discord: Coming soon
Author:
Username: Persijadays
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1925613
ETH Address: 0xFe7e4a646ed5d69c1355A24bF8d3f5DAb567Da9d
