The Big Picture

Magik Finance is an seigniorage protocol on the Fantom Network.

Inspired by Basis Cash and its predecessors Tomb and Soup, Magik Finance uses its three native tokens alongside manually and algorithmically adjusted contraction and expansion mechanisms to maintain a $FTM peg.

The three main tokens are:

• Magik ($MAGIK).

• Magik Shares ($MSHARE)

• Magik Bonds ($MBOND).

$MAGIK is an elastic supply token pegged 1:1 with $FTM. Its job is to achieve algo-stability to facilitate the use of $MAGIK as a currency within the protocol and throughout the $FTM ecosystem. During the emissions phase, $MAGIK can be “farmed” through providing liquidity on a DEX. $MAGIK LP providers are rewarded over time with $MSHARE tokens.

$MSHARE is an unpegged fixed supply token. Its primary utility rests in its ability to be staked and “print” new $MAGIK tokens when $MAGIK price exceeds the price of $FTM. This generally has the effect of pushing the price of $MAGIK back towards its peg.

$MBOND can be purchased with $MAGIK tokens when $MAGIK is under peg. Every $MAGIK token used to purchase $MBOND is burned from circulation, contracting the supply to help facilitate re-pegging.

Once repegged, $MBOND can be redeemed for $MAGIK at a premium.

Magik Finance’s tokenomic mechanisms dynamically adjust $MAGIK’s supply - all with the underlying goal of maintaining its $FTM peg.