Magic Balancer - ETH-BSC chain rebalancing protocol
About the Magic Balancer Project?
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.
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 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.
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
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).
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
AUTHOR
Forum Username: Diego Lopez
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2853230
Telegram Username: @Vinchent13
ETH Wallet Address: 0x2226451fd9ff0f9f00d1fe020dc0b3426cafb55c
