From Fledgling (a baby bird) to Flock: Magpie’s Journey so Far
While the year in crypto has had its ups and downs, no one can deny it hasn’t been a crazy ride, but we’re all here for it.
Rather than focus on what has been happening in crypto this year, we feel since the year is coming to an end soon, it is a great time to go over Magpie’s journey.
From the birds who’ve been with us since the beginning to those who just heard our chirps today, we thank you all, and we wouldn’t be where we are without all of you.
We’ll go over some of our initial goals, how we’ve done so far, and our plans for the new year.
Setting our sights: Initial goals
We launched our teaser campaign this past June, revealing what we were all about a few weeks later. We wanted to build a strong community that felt like a friendly party, where everyone could help each other and interact and help our community members. By the end of the year, we wanted to launch a multi-phase Alpha test on four initial chains (ETH, Polygon, BSC, & Avalanche): from internal, to private, to select users, and finally fully public, with plans to add a few more chains (zkSync, Arbitrum, & Optimism) before the beta launches.
Reaching the Perch: Goals.
We have been blown away (and that’s saying something for birds) by the support and growth of our community. Starting in June with just a handful of Twitter followers, we set out to build an amazing flock of birds, and at the time of this writing, we’re at over 60K followers, which is just insane.
Our Discord & Telegram communities continue to grow as well, with Discord over 11K and Telegram over 6K. We have around-the-clock community moderators helping users with questions about anything from the protocol, team members, to Alpha test assistance.
These birds like to party, so it makes sense that we have run a few contests for our community members: quizzes, puzzles, memes, and more. We love to engage with everyone and provide rewards to the flock of birds participating.
We’ve given away Alpha testing spots, interviews/chats with the team, and even FLY tokens (for when it launches). We started testing with just a few members, all the way up to where we are now, having just several thousand more.
Protocol Performance: Or how fast is the Falcon
We successfully launched our Alpha test with both cross and on-chain swaps just a couple of months ago, and it’s going great, with new users added regularly. We continually update and patch it based on the feedback our Alpha users provide us, as we want this to be a protocol and app for the users, which means you all.
We’ve made hundreds of adjustments based on feedback and general usage: bug fixes, UI adjustments, clarity, you name it, we’re working on making Magpie the best, and we’re listening to you.
Currently, users can cross-chain and on-chain swap across Ethereum, Polygon, Binance Chain, & Avalanche. Our birds are pretty fast, as a matter of fact, we’ve seen cross-chain swaps as fast as just a minute from one chain to the next. 🤯
In addition to all the swaps our community has done, we’ve done a LOT of internal testing and the results have been amazing. Our unique order router is performing incredibly well, offering amazing prices and incredibly quick pricing updates.
So far, our aggregator and order routing has shown to provide better prices on assets over 85% of the time when compared to 0x based aggregators and exchanges, and better than 1inch a majority of the time, each increasing in value as trade sizes increase (so the more you trade, the more you save).
In addition, we keep improving it, integrating more liquidity sources, DEXs, and other protocols to help make Magpie the best.
Keep Flying: Where we go from here.
As mentioned above, we’re just getting started, and we’re going to keep building and growing, so let’s give you a little insight into where we’re headed in the coming months.
The team is hard at work right now working on adding three more hugely popular chains to Magpie: zkSync, Arbitrum, and Optimism.
Additionally, we’ve got some amazing integrations with other protocols coming up soon that are going to make it even better, saving you even more money on swaps and trades.
A bit further down the road we will be adding an off-chain liquidity network to ensure all our users get even better pricing, faster, without needing to worry about sandwich attacks.
We’re also working on our Magpie APIs and SDKs so that other projects, dApps, and protocols can more easily integrate with Magpie to make cross-chain yield-farming, NFT buying, or borrowing/lending as easy as ever.
Don’t like needing to go to a ton of different apps and paying gas a handful of times to get to a new farm, it’ll be as easy as just a few clicks with Magpie.
The Flock.
Once again, we’d like to give a huge thank you to all our supporters and community members out there. This project wouldn’t be the same without you, and we’re doing it for all of you and DeFi as a whole, so let’s get out there and invite some more friends to the party, we’ve got room and it’s going to be crazy.
