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MagicSwap v2 happens to be the first AMM in crypto, which supports compatible pools, in the case of ERC-20 scenarios, as well as NFTs, all just through a single router. It also provides an opportunity to trade all items present in the game economy (exchangeable and non-fungible). Upon delivery of the protocol, it will support ERC-20, 721, and 1155. It will also have the added ability to quickly deploy new NFT styles using a custom vault.
It also happens to have automatic royalties that can be attached to every feature-set that has been put into the procedure associated with poll creation. In the near future, there are plans to integrate it into the Trove marketplace, giving users a way to take advantage of the swap minus the need to interact with AMM.
Plans are underway to ship MagicSwap early in the second quarter of 2023 on Arbitrum. Currently, an ongoing audit is being conducted by Macro. After this, the plan is to place it in Arbitrum Nova and slowly explore its way further into connecting with other networks in Web3 games.
MagicSwap leverages $MAGIC in terms of governance and fee tokens in the case of Arbitrum execution. MagicSwap was designed with the aim of making it an instrument to create engaging gameplay experiences, keeping players engaged.
Among MagicSwap’s most prominent features is that which connects entire Web3 gaming economies with the help of a single router. It also provides pools with separate NFT types. This feature is not uncommon in current AMMs. It also helps improve the overall trading experience by making provision for users to trade NFTs minus ERC-20 handling. The protocol happens to have a three-tier royalty framework, consisting of protocol fees, liquidity provider fees, and creator royalties.
In the current scenario, players had to manually list their items in the marketplace, hindering the smooth running of the game itself. MagicSwap was created to remove such distractions. This gives the user the opportunity to be able to take any amount of NFT from the pool. There is also a provision for the game economy which helps with automatic balancing when it comes to player trades. Furthermore, this protocol is complemented by a decentralized TWAP oracle based on Uni-V3. This gives projects the option of building pools that use ERC-1155 in base pair form.
The coincidence protocol has vault permission options, which can be used by game developers to formulate rules in terms of trading outside pools. However, the licensing feature may appear to be anti-crypto at an entry level. However, players must have a certain control over their game. It facilitates new Web3 games as well.
Previous games came with features such as location-specific markets, such as bazaars where players could buy and sell from one another. Until recently, they were able to trade outside of in-game locations. In the case of MagicSwap, game developers can use it to build a network of tokens that can be traded with each other. This protocol also uses $MAGIC in terms of token fees. It takes 0.5% when it comes to MAGIC trades made via the MagicSwap pool.
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