# Home

## The Big Picture

The $MAGIK'S algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Opera network.\
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The protocol's underlying mechanism dynamically adjusts $MAGIK's supply, pushing its price up or down relative to the price of $FTM.

Inspired by the original idea behind Basis as well as its predecessors (Tomb and soup), Magik.finance is a multi-token protocol which consists of the following three tokens:\
\- Magik ($MAGIK).\
\- Magik Shares ($MSHARE)\
\- Magik Bonds ($MBOND).

## What differentiates $MAGIK from other algorithmic tokens?

Unlike previous algorithmic tokens, $MAGIK is not pegged to a stable coin— it is instead pegged to $FTM. \
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Why is this?\
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Magik.Finance believes in the potential of Fantom Opera, and has chosen to align its mission to both provide value to and derive value from $FTM's future growth. 

One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the Magik team will maintain a focus on innovation around enhanced functionality and use cases.