Magic Square Integrates 1inch Swap API, Unveils SQR Swap Competition

Magic Square, a Web3 app store, has integrated the 1inch Swap API into its platform, providing users with access to 1inch's 12 supported networks and over 380 liquidity sources. This integration is expected to improve swap conditions and utility for Magic Square users. To incentivize user engagement, Magic Square has also launched the SQR Magic Swap Competition, offering $25,000 in rewards based on swap volume and Karma points.

Magic Square Embraces 1inch Swap API, Unleashing Enhanced Swap Conditions and Incentivizing User Engagement

April 16, 2023 - Magic Square, a leading Web3 app store, has announced the integration of the 1inch Swap API into its platform, offering users unparalleled swap conditions and introducing the SQR Swap Competition with a prize pool of $25,000.

Groundbreaking Swap Conditions

The integration of the 1inch Swap API empowers Magic Square users with exceptional swap experiences. 1inch, renowned for its support of 12 networks and over 380 liquidity sources, has processed over 30 million swaps with a volume exceeding 300 billion. This integration is expected to significantly enhance the utility and efficiency of Magic Square's ecosystem.

Incentivizing User Engagement

To foster active user engagement, Magic Square has launched the SQR Swap Competition. Users will be rewarded based on their total swap volume, earning Karma points for each transaction. Magic Karma allocates points for contributions such as participating in campaigns, inviting friends, claiming hot offers, and now, through Magic Swap.

Rewarding Participation

At the end of each day, 10,000 SQR tokens will be distributed among users based on their accumulated Karma points. This incentive program is designed to increase the utility of the Magic Store and the SQR token. By offering additional Karma points for swapping to SQR, the platform aims to boost demand for the token, benefiting the entire ecosystem.

Quotes from Key Players

Andrey Nayman, Founder and CEO of Magic Square, expressed his enthusiasm about the integration, stating:

"This collaboration with 1inch marks a significant milestone for Magic Square. Our goal has always been to provide our users with the most seamless and rewarding experience possible. By integrating the 1inch Swap API, we're not only expanding our service offerings but also enhancing the overall value for our community through additional rewards."

Alexandra Fetisova, Partners & Community Lead at 1inch, shared her alignment with Nayman's vision, emphasizing 1Inch's commitment to simplifying and enhancing DeFi for all users:

"Our collaboration with Magic Square is a testament to our shared vision of making DeFi more accessible and user-friendly. By integrating our Swap API into Magic Square's platform, we empower users with the best possible swap conditions and provide a seamless experience for their financial transactions."

Outlook and Benefits

The integration of the 1inch Swap API and the launch of the SQR Swap Competition are strategic initiatives that align with Magic Square's mission of creating a comprehensive and rewarding user experience within the Web3 ecosystem. By providing access to exceptional swap conditions, incentivizing user engagement, and fostering community growth, Magic Square positions itself as a leading destination for Web3 applications and services.