🌪️Overview
An intro to the world of Magpy
Last updated
An intro to the world of Magpy
Last updated
Magpy is 🤖 non-coding multichain/multidefi trading bot platform 🤖 that allows DeFi degens to build fully customizable trading bots with Trigger and Actions. Users can connect to multiple DEXs and DeFis on the blockchain, create your own bot by themselves and manage assets with secure environment, smart contract wallet.
Token issuers and traders can highly benefit from bots which enable:
Purchasing cryptocurrencies under specific conditions but unable to monitor charts due to a busy schedule.
Trade and reinvest stored tokens in multiple wallets across different projects.
Regularly sell tokens from multiple investment sources.
Selling received tokens as rewards
However, even if they recognise the need, they often abandon the idea due to the following reasons:
Lack of engineers to write code for an automated bot logic.
No cloud engineers to operate bot trading code.
No funds to continuously employ operating engineers.
Most CEX bot trading tools are abundant but have little-to-no support for DeFi.
Do not want to share API keys or private keys with applications and expose assets to risks
For such project owners, we have decided to offer Magpy, a bot-building and operation service that requires no-coding and infrastructure management.
We use Account Abstraction and encourage users to utilize Smart Contract Wallets to reduce asset risks and achieve safer bot trading.
Alice connects her EOA wallet and deploys a smart contract wallet in a single click.
With Magpy, Alice can trade within the range of assets allowed by her Smart Contract Wallet. She inputs the Trading Actions and Triggers into Magpy's UI.
Of course, it is possible to set multiple actions for one trigger, example: Trigger is Bitcoin crossing $21,000 and Alice can set multiple actions such as buying ABC, DEF tokens and selling XYZ tokens.
The bot created runs on Magpy's resilient and robust backend infrastructure. Currently, this backend is a system using a common cloud architecture, but in the future, it is planned to distribute infrastructure and governance so that many project owners can benefit.
In this way, Alice is void of any security concerns across all bot operations, and can enjoy a comfortable bot life powered by Magpy.
Alice needs to pay a portion of the bot's earnings to Magpy as infrastructure usage fees, but Magpy can offer Alice competitive fees as it benefits from low fee income from DeFi.
Increase Crypto Market Cap
Increase DeFi Trading Volume from Magpy
Enable easier UX in building and running bots
