AMA RECAP : CRYPTOSCAPE x MAGIC CUBE
Venue : Crypto Scape
Date :13 August 2021
Time : 12:00 PM UTC.
They shared detailed information and his opinions about the Project MAGIC CUBE.
🔴 SEGMENT 1 INTRODUCTION.
My name is Chris, I’m the CMO of Magic Cube Finance, also one of the core members of our founding team. Like the feature of blockchain & crypto, our team is working in a distributed way from all over world. It’s based on our rich experience in the crypto field that we launch the project to make DeFi reachable to everybody and create a fair new world of finance.
Q1.could you please share What’s MagicCube all about, explain it along with the usecase and vision?
Magic Cube is committed to becoming the NASDAQ on blockchains. You know, due to troubles like geographical barriers, and even political obstacles, it’s hard for most people outside of the USA or Europe to buy the APPL stock, the MSFT…etc, and further more, one has to buy at least 1 share of the stock in the real world, which we think has been the game of the past. So a decentralized NASDAQ is of value for people worldwide to participate this 100-trillion dollar market in a secure and easy-to-get way.
Magic Cube is to run on the BSC network to list the real world’s stocks on the blockchains. This is the core system of the whole ecosystem, which is supported by other systems before and after it. Th e whole ecosystem covers the following systems.
- Magic Power community: A meme based community to drive and empower the Magic Cube eco. The value carrier is $MGP, with the goal to surpass all ever meme tokens.
- $USDM: The algorithm stablecoin to connect the Magic Power community and the Magic Cube minting system.
- Magic Cube platform: An assets minting system that reflects the real world’s assets (stocks, funds gold, etc) on the blockchains, with the goal of building the new NASDAQ by encryption. The platform token is $MAGC.
- NFT system: NFT is a very popular part in the crypto field that we are also interested in. The Magic Power &Magic Cube NFT products are being designed now, and will be available soon.
- Assets management: This system covers the features of crypto assets managing&custody.
Other internal parts of the eco includes:
- RingSwap: The Dex
- Dwarf Pool: MP liquidity pool
- Box Staking: The assets staking pool
- Glen Bridge: Cross chain bridge
Q2.Could you share Some recent product development in terms of roadmap or milestones achieved
Currently, we are focusing on the Magic Power Community, as you know to make $MGP surpass the ever meme token, like Shiba, with market the value of over $18 billion at high, there’re so many business to go.
For the afterwards parts, we have started designing the business models of the stablecoin and and the assets minting system, while technical investigation is proceeding at the same time.
Q3.Give us more details about Magic Cube Community Global Manager Recruitment Programme
Yeah, let me share the recruitment link first
This is the recruitment announcement, with only part of the language types we are looking for.
As the giant ecosystem is driven by the meme culture based Magic Power community, we attached great importance to globalized development for the communities.
By now we already have 10 communities, with English as the major one for the [Magic Power Community Global] and the [Magic Cube Ecosystem Global], and other 7 different language-based local communities, that’s Vietnamese, Korean, Arabic, Indonesian, Malaysian, Chinese and Russian.
The recruitment is keeping underway to scaling more language speaking communities. CMs who desire to grow with a large project to gain more value, and more realistic, to make fortunes, our arms are always open to you.
Q4.How much do you value your community and what role they play in major decisions taken by your team also share in your roadmap if available?
Let me make a comparison, if the Magic Cube ecosystem is a body, then the community is blood. This is, I believe a common recognization for any decentralized project.
That’s the reason why we develop so wide range communities for different language speaking users around the world.
We’ve scheduled a serial of airdrops to the communities for the next step, and in the future. I’ll introduce it in details later.
Q5.What’s the security of your platform and have your product went through an internal audit and what’s the status of external audit?
Security is the priority issues for us: no security, no future.
So to guarantee the top security, as the project just kicked off, we don’t hurry just for owning an audit.
The internal audit has been check for several times by our strong technical team, and will be public on Github soon. As for the external audit, we’ll get it audited by at least three world top auditors when all preparation works are done.
Currently we are focusing on building the user base, with the continuous Satoshi Nakamoto's spirit of decentralization and attract more people to participate this century revolution of DeFi.
🟡 SEGMENT2 TWITTER QUESTIONS.
1) The Magic Cube ecosystem runs a series of products based on the protocol, covering the features tokenized assets minting, trading, liquidity providing and staking. Which are those products? How they work? Can you explain them in brief? @Pancakeapes
Okay, let me introduce it.
In fact I mentioned these products in the 2nd Q of the Introductory Segment. You know the Magic Cube ecosystem consists of 5 systems, that’s the Magic Power Community, the stablecoin system, Magic Cube platform, assets managing system and the NFT system.
These products mentioned in the Q belong to Magic Cube platform, the assets minting system. The synthetic assets minted on the Magic Cube platform is mcAsset, eg the reflected asset of APPL stock is [mcAPPL].
Exactly there’re six products in the assets minting system👇🏻
1) Crystal Ball Oracle: To generate the mapped value of each asset by the algorithms with multiple sources.
2) Gringotts Bank: The workshop to mint the mcAsset of Magic Cube platform.
3) RingSwap: The automated market maker (AMM) protocol for on-chain assets trading by smart contracts.
4) Dwarf Pool: LP liquidity pool for the pairs of mcAsset/USDM or MAGC/USDM to marks the collateral assets.
5) Box Staking: For token staking and rewards distribution, rewarding LP stakers newly generated MAGC in proportion to size of staked LP tokens multiplied by the weight of that asset's staking pool.
6) Glen Bridge: Cross-chain transfer of the tokens including MGP, MAGC, USDM, mcAsset(s).
Yeah it’s interesting😄
The names are to some extend taken from [Harry Potter].
It indicates our starting point for the Magic Cube ecosystem, to change the DeFi world with the Magic Power.
2.We are witness of more than 100 daily BSC projects. A lot of traffic is here. Investors are confused which we need to invest. So, tell us how your project is different and unique from others? @Zafiyakhan2
In fact, most projects are capital-oriented, but Magic Cube is a truly community driven project.
As introduced in Q2 of the Introductory Segment, there are 6 parts in the Magic Cube ecosystem, of which 2 symbolic parts have very clear goals:
- Magic Power Community: To surpass the ever best meme token.
- Magic Cube Platform: The new NASDAQ on blockchain.
Connected by the stablecoin $USDM, Magic Power Community drives and empowers the Magic Cube ecosystem, while the better development of the latter promotes the deflation of the former, pumping the price of $MGP, and $MAGC value grows too with the consensus expanded.
The burning of $MGP is promoted in 2 ways.
- By depositing $MGP to exchange MP(Magic Point) to mine the $MGP token.
This method got live a few days ago.
- By mining $MGP to mint the $USDM
This method will start when the stable coin system goes live.
So the whole systems are relevant directly or in directly to affect each other. With further development, the ecosystem will grow stronger and larger, and the tokens will be more and more.
3.The crypto industry is a fast growing so how is magic cube flexible to change quickly and keep pace with technology trends especially with so many Doge linked projects around? What is your long-term vision for the meme industry in which the magic cube project operates? @shadyaboabdo
This is a very true Q
I believe most people in the crypto field always stay up late at night, as well as most companies.
Why? — the industry is growing fast.
It’s not friendly to talk about other meme project here, but it could be seen that most crypto coins are finally worthless.
Why? — Not supported by valuable user scenario.
As a marketer, instead of a technician or product designer, my opinions mainly from the standpoint of users and market for this Q.
Data shows that that there are at least 328 million individual shareholders in the world, of whom nearly 173 million live in countries with developed stock markets and the remaining 155 million live in countries with emerging stock markets.
The 328 M individual shareholders occupies 4%+ of the world population of around 8 billion.
The stock market should have been reachable to everybody in the globe, but the barriers regarding geography & policy have banned most people from participating.
This is only the bata base support and value of Magic Cube synthetic assets minting system, exclude the systems of the meme community, stablecoin, assets managing and NFT.
It’s after our long-time investigation that we launch this ecosystem. So with the value worldwide user scenario, we are very confident that we can make MGP the ever best meme token.
4.Can you tell us a little bit about what is the difference between Your yield ecosystem and other yield platforms? What are the innovative features that your project brings to the table? How does it stand out from its competitors? @jagdubey24
Currently as it is at the Magic Power Community stage, I'll introduce the yield of $MGP liquidity mining.
For $MGP yield, we have introduced an incentive mechanism similar to that of a stockbroker, through which the community will keep expanding outward. You know the key to any project to grow larger and stronger depends on whether it continues to expand to or not.
The incentive mechanism works as👇🏻
- Tier-1 referral: You can directly refer people to participate the project, and you’ll be their advisor. In this way you’ll gain rewards based on the property value of the referee(s).
- Multi-tier referral: If your referee(s) referred people to participate the game, you’ll get rewards too, which is based on the property value of the lower levels referees.
With more and more people involved, the consensus will keeps growing. Only with super community consensus cross the regions and different colors of people, will a DeFi project become strong and firmly move forward to higher levels just like Bitcoin, the King and father of all cryptocurrencies with the holders distributed in every corner of the world.
Our vision is to create an open financial platform that truly belongs to the community and to all of humanity, and we are on the way now.
But theory is nice, but practice is better.
You may access to the site to experience $MGP liquidity mining👇🏻
5.Heard about MagicCubeDeFi is planning an exclusive airdrop for Cryptoscape community?! Can you tell me more details on that?! @Bernard83054114
This is the benefit only for you guys here.
Community is the lifeblood for a DeFi project, so we especially treasure our community.
After the AMA, we’ll launch an airdrop to this community, that’s the welcome gift to invite you guys to join us Magic Power Community, and the Magic Cube ecosystem, to become our family, to co-build a great DeFi eco.
‘Community - the true spiritual symbol and thought behind the MGP Token’. This is our basic belief.
So besides this airdrop, we plan to launch regular airdrop once a week.
In this way to make the meme culture to the top.
Anybody, as long as you desire to grow and obtain freedom brought by wealth, you are always welcome to join us!
🟢 SEGMENT 3 TELEGRAM LIVE.
Q1- Tonmoy Roy:
Do you have Whitepaper if yes please share it with us and secondly do you have plans for pre-sale? Where can we join it?
Yes, we have the lightpaper and you can get it on the website. As this is a fully decentralized and community-driven project empower by the Magic Power community, we don’t have presale. But you can acquire the $MGP by liquidity mining.
When do you plan to release the other 2 tokens in the ecosystem:
Magc and usdm ?
$USDM will be the next token for the Magic Cube ecosystem, we have started designing the business modle of the product.
Plz stay tuned with us on our communties and the social media channels😊.
Good day sir 💖
can I buy your tokens right now and also which wallet support your token?
Yes you can acquire the $MGP by trading on the exchange platform, or liquidity mining.
For the details, please join our communities.
Good day sir 💖
can I buy your tokens right now and also which wallet support your token?
$MGP is running on Binance Smart Chain, so any BSC-supported wallet works.
Q5-😃 Lori Espinal😃:
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
For non-English speakers, please join and inquire the Adm to guide you to other language speaking communities
Currently 7 more languages are supported.
I have a final surprise to the guys here😊
As we are community empowered, we treasure our communities so much!
So we plan to launch a weekly regular airdrop!
Welcome to follow us and grow with us, invite more and more people to join the Magic Power & Magic Cube ecosystem❤️
Thank you from Crypto Scape