Fly Supersonic with Magpie

We’re incredibly eggcited to announce the Magpie dApp will be live and fully operational on Sonic, the fastest EVM Layer 1 blockchain so users and other protocols alike can use Magpie to send assets at super sonic speeds on day one of the Sonic mainnet launch.

Magpie: Boom Winner & The Best Aggregator on Sonic

Magpie has won the Sapphire award from the Sonic Boom initiative, which means we were one of ten protocols to share in the second place tier. What this means for our community is that our community and Magpie will be incentivized to do activity on the Sonic mainnet once it launches. Taking advantage of their super sonic speeds, low fees, and incredible ecosystem, Magpie will be able to provide easy access and the best pricing by leveraging our unique routing and aggregation algorithm and Sonic will be able to offer an incredibly efficient and user-friendly experience for its growing ecosystem and community.

Sonic: Magpie’s Nesting Grounds

Sonic offers unprecedented scalability and performance, with an exciting ecosystem on the horizon as well, due to their incredible support and incentives for projects and developers. Let’s quickly go over just a few of the advantages of Sonic and why the birds at Magpie plan for it to be our home nest (chain).

Sonic offers developers unprecedented scalability and storage with a streamlined experience for users.

• Super Sonic Speeds: incredibly fast transaction speeds, at under one second confirmation times, enabling real-time applications for a seamless user experience.
• High Throughput: Sonic can handle a massive number of transactions per second, around 10,000, ensuring efficiency and scalability.
• Low Fees: efficient and optimized gas costs result in average transaction costs of under $0.01, making it one of the cheapest blockchains out there.
• Security: Sonic uses a proof-of-stake, DAG-based, ABFT consensus mechanism, creating an efficient and safe blockchain.

Sonic’s Revolutionary Monetization Model: FeeM

One of the key advantages of the Sonic network is its innovative FeeM monetization program, which offers projects built on Sonic up to 90% of the gas fees generated by their apps on-chain. By incentivizing development and rewarding projects and protocols, Sonic can support a vibrant and healthy ecosystem by providing projects with sustainable income.

Magpie’s Utilization of FeeM

Magpie will leverage the FeeM feature to optimize user experience and reduce transaction costs. By allocating a portion of the recovered gas fees to users, Magpie aims to provide a more cost-effective and rewarding platform for trading assets.

Magpie: A Powerful Partner

Not all you birds out there may be familiar with Magpie, so let us introduce ourselves and give you a brief rundown of what we have to offer. Magpie offers state-of-the-art aggregation, supporting thousands of assets with the best pricing, for on or cross-chain swaps. Now let’s dive into a few benefits of Magpie Protocol:

• Seamless User Experience: Simplifies the process of interacting with multiple blockchains, providing a unified and intuitive interface. When going cross-chain, users can swap whatever token they wish for whatever token they want on either chain, not limited to native assets or stablecoins.
• Optimized Performance: Magpie’s unique order routing algorithm and aggregator provide the most efficient routes and best pricing as it will fly (route) through essentially any token, not just native assets and stablecoins, and pull liquidity from as many pools as possible to complete the swap, with increasingly better pricing the larger the swap.
• Enhanced Security: Prioritizes security, is non-custodial, and employs robust measures to protect user funds and information.
• Community Support: Monthly community campaigns with rewards and Townhall meetings to keep the pulse on community wants and needs, fostering collaboration and to help build the project into the best it can be.

This strategic integration between Magpie Protocol and Sonic is a significant milestone in the evolution of our protocol. Combining Sonic’s cutting-edge blockchain technology with Magpie’s powerful aggregation will enable us both to fly at new speeds, higher heights, and unlock eggciting opportunities for the DeFi community.