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Overview
An intro to the world of Magpy
Magpy is a 🌪 DeFi Front-End Aggregator 🌪, which provides an environment for all Web3 native projects and DeFi degens to build bots with absolute ease.
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.
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We use Account Abstraction and encourage users to utilize Smart Contract Wallets to reduce asset risks and achieve safer bot trading.
- 1.Alice connects her EOA wallet and deploys a smart contract wallet in a single click.
- 2.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.
- 3.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.
- 4.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.
- 5.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.😉
- 6.In this way, Alice is void of any security concerns across all bot operations, and can enjoy a comfortable bot life powered by Magpy.
Increase Crypto Market Cap
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Increase DeFi Trading Volume from Magpy
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Enable easier UX in building and running bots
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Last modified 12d ago