# Magik Platforms

## Dungeon (Boardroom)

![](https://806587886-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FgDJUEsLRgeoBBbTf78ox%2Fuploads%2FOF5BCQGSSOIayiEtg9jz%2F74E14AF6-4D25-4CEB-B82D-04B15198D5A7_1_201_a.jpeg?alt=media\&token=c4731373-6039-49f2-9408-7e3aba3daea8)

* Epoch duration: 6 hours
* Deposits / Withdrawal of MSHARE into/from Dungeon will lock MSHARE for 6 epochs and MAGIK rewards for 3 epochs.&#x20;
* 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

### Dungeon UI Available information

Next **Seigniorage** indicates a countdown timer to the next epoch. (Each epoch duration lasts for 6 hours)                                                                                                              &#x20;

**APR** refers to the simple returns in USD value relative to the amount of MSHARE staked (USD value).\
&#xNAN;_&#x4E;ote:_ _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 on Contraction Periods

Dungeon will **not** mint any MAGIK (_NO REWARDS ON DUNGEON_) while TWAP < 1.01

### Dungeon on Debt Phase

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.



## Cauldron (Shares)

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

![](https://806587886-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FgDJUEsLRgeoBBbTf78ox%2Fuploads%2FddrJaHAZV0UkPscZFFtB%2F09ACAF05-3EBE-4537-9798-7BB3D185F6A8_1_201_a.jpeg?alt=media\&token=65bc603c-9e03-4b67-beb5-8efff9337283)

## Wilderness (Bonds)

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:

&#x20;                       R=1+\[(MAGIK(​twapprice)−1)∗coeff)]

Where coeff = 0.7

![](https://806587886-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FgDJUEsLRgeoBBbTf78ox%2Fuploads%2FpcnDKRe20J2kQ9xz7cA1%2FF7A824A3-5514-45DA-AD8F-7458D2E6290B_1_201_a.jpeg?alt=media\&token=50752b26-f6c5-4e9d-8cbc-63e1bf777846)
