Magic Power $MGP

Magic Cube is an all-encompassing ecosystem built around decentralized finance (DeFi). It is primarily driven by the Magi Power Community, a Meme culture-based community that is the backbone of the Magic Cube ecosystem. The ecosystem currently encompasses two parts: The Magic Power Community and the Magic Cube assets minting system.

Magic Power Community

This community is the heart of the ecosystem, issuing MGP tokens that carry the value of the community and link the assets minting system. These tokens can be burned to mint USDM, the algorithm stablecoin of the ecosystem. The Magic Power Community is also responsible for the governance of the ecosystem, with a total supply of 100 trillion MGPs. The tokens are decentralized Meme tokens managed by fully decentralized smart contracts, promoting growth within the Magic Cube Ecosystem.

Magic Cube Asset Minting System

Users can mint mcAssets, synthetic assets, at Gringotts Bank by collateralizing USDM. These mcAssets then generate profits for users across other systems of the Magic Cube ecosystem. This includes trading at RingSwap, staking for mining at Dwarf Pool, providing liquidity at Box Staking, and executing cross-chain transfers at Glen Bridge.

The Dual-chain Mechanism

The Magic Cube ecosystem utilizes a dual-chain mechanism, building applications on both the Binance Smart Chain and Ethereum. This includes the tokens MGP, USDM, and MAGC, the last of which is the ecosystem’s ecological governance token used for incentives.

Final Thoughts

With the combined power of its dedicated community and innovative token system, Magic Cube ushers in a new era of decentralized finance. Its Magic Power Community and dual-chain mechanism offer both stability and growth, ensuring a thriving ecosystem for all participants.