Want to join DeFi? Use Magpie
Over the past few years, we have seen an explosion in the number of DeFi protocols and platforms. While this growth is exciting, it also begs some questions, such as how will people navigate the space, or what is being done to protect your assets and make your experience better.
The birds here at Magpie want to be certain that we’re giving the best experience DeFi has to offer. According to feedback and polls of our community, the most important topics in relation to DeFi protocols are Security, Use-cases, Onboarding/DeFi education/Community, and integrations, so today we’re going to go into why Magpie is the perfect solution for those looking for all of the above aspects in a DeFi protocol.
Security
Security is arguably one of the most important components of crypto as a whole and DeFi specifically. With billions of dollars in assets held on and within different protocols and bridges, it is crucial that these platforms are secure and resistant to hacking and other types of attacks. Don’t let those hackers ruffle your feathers though, Magpie is non-custodial, meaning we’re never in control of your assets and our swaps rely on the native security of each chain they are transacted on, so all users can feel safe and comfortable using Magpie. Additionally, we’ve been audited twice to ensure our code is safe. Want to check out the results, click here!
Use-Cases
The second most requested feature for a DeFi protocol is one that has multiple use-cases so that users can get the most out of it. It doesn’t feel good to have to go to a different wallet (Magpie Wallet Service in the works!), DEX, bridge, protocol, or web page for every single thing you want to do in crypto. With Magpie, we’re taking this to heart, and while we can’t say anything specific at this time, we can tell you to keep those hawk-eyes open as we’ve got new updates and features planned all year. When we asked our users what they wanted to use a dApp for, most of them said to purchase crypto for long term and hodl, to yield farm, and to actively trade.
Magpie is your solution for all of the above. Want to hold for the long term? You’ll get the best prices across all the major blockchains, with assets deposited directly into the wallet of your choosing. A humble yield-farmer? Swap tokens to whatever chain you want to go to all in one easy to use interface rather than needing to use multiple DEXs and a bridge to do it. (p.s. In a future update, you’ll be able to join many yield-farms directly from the Magpie app, same chain or cross-chain!). Now, for you active birds out there, the traders, Magpie is DeFi-nitely for you! Our unique order router gives traders competitive or better pricing when compared to other popular aggregators such as 0x and 1inch, so if you want the best prices on assets, use Magpie.
Onboarding/DeFi Education/Community
While this topic may not be completely necessary for those experienced and wise owls out there, it’s probably the most important for those new to DeFi and crypto. In order to achieve mass adoption, DeFi must be easy to use and accessible to everyone. Unfortunately, many DeFi platforms are still difficult to use, requiring technical expertise and a significant amount of time to navigate. This complexity can be a major barrier to entry for many users, which is why Magpie’s dApp is made to be super user friendly and incredibly easy to use. It allows experienced and new users to fly through DeFi without the normal time-sink of learning all the DEXs and bridges out there.
While we encourage everybody to research and DYOR about DeFi and what drives it, for some, it can be cumbersome and time consuming, which is why we have easy to understand blog posts covering all the hot topics in DeFi that can be read in just five to ten minutes. So don’t be afraid to share the blog posts with your friends and family, it’s easy to learn about DeFi, can doesn’t take long at all!
Additionally, Magpie has an active and amazing Discord & Telegram community that is there to help new users answer questions on the Magpie app with any questions they may have. New users don’t have to worry about being ignored and can be confident when entering our flock that they can get the help they need. Without an easy to use app and a community that is there to support and encourage new users, people may not have an interest in joining DeFi.
Integrations
Last, but definitely not least, are project integrations, one of the most important aspects of DeFi protocols. How are you integrating yourself within DeFi and to other protocols and blockchains to help increase adoption and make for a better future of finance.
Magpie does this by integrating the most popular and active blockchains in the space, such as Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, & Optimism, with others in the pipeline as well! Just how popular are these chains? These six chains make up 91% of volume and 80% of TVL within DeFi, according to DefiLlama. Meaning, if you choose to use Magpie as your go-to dApp for DeFi, you’ll have access to essentially all of DeFi from one page. No more digging through the hundreds of DEXs and needing to learn ten different bridges, we’ve got you covered.
Magpie & DeFi
We’re here to help make DeFi the future of finance, so we take what our community wants pretty seriously. We’ve got some major plans, but we also wanted to share with you all some great reasons to use Magpie that are at the forefront of our communities minds.
Egg-cited for the Public launch, we are too, so be sure to chirp out to all your friends and family that it’s coming! We hope to see you there.
