Magik Platforms
Last updated
Last updated
Epoch duration: 6 hours
Deposits / Withdrawal of MSHARE into/from Dungeon will lock MSHARE for 6 epochs and MAGIK rewards for 3 epochs.
MAGIK rewards claim will lock staked MSHARE for 6 epochs and the next MAGIK rewards can only be claimed 3 epochs later
Distribution of MAGIK during Expansion
80% as Reward for Boardroom MSHARE Stakers 18% goes to DAO fund
2% goes to DEV fund
Epoch Expansion: Current expansion cap base on MAGIK supply, if there are bonds to be redeemed, 65% of minted MAGIK goes to treasury until its sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate
Next Seigniorage indicates a countdown timer to the next epoch. (Each epoch duration lasts for 6 hours)
APR refers to the simple returns in USD value relative to the amount of MSHARE staked (USD value). Note: APR fluctuates from time to time and is dependent on certain factors such as:
Price of MAGIK
Price of MSHARE
Amount of MSHARE staked in Dungeon (Locked Value)
Dungeon will not mint any MAGIK (NO REWARDS ON DUNGEON) while TWAP < 1.01
Debt Phase take place on the expansion epochs that start after a contraction period where there are still Mbond's to be redeemed.
65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the MBOND Redemption. This amount is still reserved whether or not MBOND holders are redeeming bonds or not.
Once MAGIK in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.
MBOND emitted per epoch during contraction periods can be found on Regulations.
Stake your LP to earn MSHARE tokens
Shares Pools (Shares Reward) available for 12 months:
MAGIK-FTM LP: 35500 Shares
MSHARE-FTM LP: 24000 Shares
MBOND (bond tokens) are available for purchase when MAGIK falls below the 1 FTM peg. If MAGIK'S TWAP is between 1.00 and 1.01, neither MBOND nor MAGIK will be issued.
e.g. if MAGIK's TWAP < 1, exchange MAGIK for MBOND will be in a 1:1 ratio.
MBOND (bond tokens) are available for redemption when MAGIK goes above the 1 FTM peg.
To encourage redemption of MBOND for MAGIK when MAGIK TWAP > 1.1 and incentivize users to redeem at a higher price, MBOND redemption will be more profitable with a higher MAGIK TWAP value, of which MBOND to MAGIK ratio will be 1:R, where R can be calculated in the formula as shown below:
R=1+[(MAGIK(​twapprice)−1)∗coeff)]
Where coeff = 0.7
