Magic Store (SQR) was launched on HotsCoin on January 23. Magic Store is a Web3 application store solution that reviews, ranks and prioritizes Web3 dApps through the DAO mechanism, and uses revenue indicators to motivate users and validators to participate. The project’s DeFi bundle allows users to stake and trade cryptocurrencies on any chain. Users can earn SQR tokens by voting for new apps in the Magic Store and participating in contests in the Beta Rewards Hub. Magic Store and Magic Boost provide convenient ways to grow your user base. SQR is currently open for trading on HotsCoin.
Magic Square Ecosystem
Magic Square is a unique Web3 ecosystem dedicated to providing users with the best Web3 projects. Carefully selected and reviewed by the community to ensure every user has a high-quality and enjoyable Web3 experience. The Magic Square ecosystem includes:
Store: A Web3 application store where users can discover, explore, and participate in community-vetted Web3 applications and games. Users can earn rewards by voting and validating new projects, as well as participating in the Magic Karma program. The store design is user-friendly and provides a smooth browsing experience.
Offers: Lists the exclusive offers offered by the project to provide users with attractive discounts and unique content. This not only increases user value, but also improves project visibility and user interaction.
Karma: Users earn Karma points by performing simple daily tasks such as claiming transactions, voting, registering, and logging in. These points can be redeemed for real rewards.
SQR Token: The digital currency of the Magic Square ecosystem, used to participate in platform decisions as a reward and payment method. The SQR token also supports a decentralized, community-driven environment on the BNB chain.
Voting and Verification: The community decides which apps and items are featured in the Magic Store. By voting, you ensure that only projects that meet community standards are verified in the store.
Boost: A Web3 affiliate network within Magic Square that allows users to earn commissions by promoting apps and games in the Magic Store. By increasing app visibility, both developers and users benefit.
FAQ Summary
Magic Square Beta Tokens: Magic Store Beta are for testing purposes only and have no real-world value.
SQR Token Sustainability: There is a buyback of 30% of SQR tokens with a lock-up period of 12-24 months, balancing the long-term relationship between sellers and buyers.
SQR Token Inflation: The supply of SQR tokens is limited, but the process of distributing rewards to the market by releasing more tokens is considered a form of "inflation."
SQR token destruction mechanism: There is currently no destruction mechanism because regulatory agencies believe that this mechanism may have security risks.
SQR Token Purpose: Used for governance, advertising, affiliation and membership.
SQR token staking platform: planned for future launch.
How Magic users can earn SQR tokens: All rewards previously accumulated by TGE are not locked, and users will receive all tokens at launch.
Users get rewards for referring friends: Yes, by referring active members, users get a larger stake in the reward pool.
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