Ali Raheman
@dr_rahemanAli
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Founder & Builder - @flytrade_ https://t.co/GrsynkrPQy
Joined February 2020
Hello World! I'm very excited to finally present what our team of passionate and skilled misfits have been working on over the last few months - Magpie. š§µ. .
š£ Presenting Magpie - Swap assets efficiently across any chain! āļø. š Shaping the future of how people interact with financial systems. Built on decentralized, fair, and universally accessible technology. We're ready to fly! š¦. Read more ā¬ļø.
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ve(3,3) revolutionized liquidity provisioning. Introducing FLY(3,3). A ve(3,3) inspired model on Sonic. @magpieprotocol attempts to redefine trading incentives with FLY. Here's how. (1/13).
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we'll get to $1B faster than you think. big week ahead. lock-in. sonic.
Aaaand now it's 115M. $15M in a few hours. Sonic is accelerating. Keep up Anon.
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Fast. Low-cost. Best UX. Sonic. They not like us. trade, deposit, LP with sub-second finality. @SonicLabs @magpieprotocol
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Magpie is a multichain liquidity aggregator native to Sonic. Aggregation is a proven business model. Competitive?.Yes. But best-priced aggregators win order flow. And weāre here to WIN. Here's how. (1/x)
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250+ users have been able to participate and 20% of the sale sold out. All smooth thus far. Proper distribution is key, and I'm glad we're able to get that with a WL approach. Community-first. Sonic.
$FLY Public Sale is LIVE!. Get over to @FjordFoundry now to secure your spot, exclusively on the @SonicEcosystem.
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Thoughts from the $FLY pre-sale on @FjordFoundry and @SonicEcosystem . This was INSANE. You thought 396k tps was a meme?Here are some stats -.
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FLY(3,3) is an x(3,3) inspired model designed by @ShadowOnSonic . Their iteration of ve(3,3) is the real deal. The stats speak for themselves. Excited about whatās next.
$FLY token sale live on fjord. ve(3,3) model subsidizing trades instead of lp farming. 45m fdv down from 60m previous round. 2m cap.
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bro @cryptohamm walking us through @ShadowOnSonic and x3,3. tune in.gud tech, gud shiet.
Live with @ShadowOnSonic!
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FLY-wheel on top of $S flywheel coming to the fastest, cheapest, meanest chain near you. iykyk. Sonic.
Chain level flywheel.
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Aaaand now it's 115M. $15M in a few hours. Sonic is accelerating. Keep up Anon.
$100,000,000 . Magpie has surpassed $100M in volume on @SonicLabs, next stop $1B. This is just the beginning of our journey on Sonic, you're gonna want to stay tuned for whatās next.
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ve --> ve33 --> x33 --> ft33. '--> fly33.
ve -> ve33 -> x33 -> ft33.
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goglz are stayin' .oil rigs are pumpin'.tokens are flyin'.derps are derpin'.sonic is boomin'. iykyk.
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Excited to be a Hummingbot Foundation launch partner. As a first step @AI_Autonio will be building the new web GUI for Hummingbot making it smarter and accessible!.
We're excited to announce the Hummingbot Foundation, launching with support from @avalancheavax, @terra_money, @0xPolygon, @kava_platform, and @harmonyprotocol!
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We out here . Sonic.
MOST USED DAPPS ON SONIC IN THE LAST 7 DAYS . Based on @nansen_ai ā this is the top 6 most used dApps on #Sonic! . #1 Go to @magpieprotocol .#2 @odosprotocol .#3 @Balancer .#4 @pendle_fi .#5 @ShadowOnSonic .#6 @BananaGunBot . What is your favorite on this list? Let Sonictalk
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I am proud and excited to announce that our project, @magpieprotocol, has closed its seed round!. I want to give a huge thank you to our lead investor @jump_ for supporting us in our mission to build a strong foundation for a cross-chain future for DeFi.
š£ Weāre thrilled to announce that our $3M Seed round has been completed! š. After seeing what we are developing and offering to the crypto space, #MagpieProtocol has been supported by notable investors š. š Read the full article here
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"The focus of this generation of DeFi protocols has been on programmability, but the next generation should look towards intelligence" . @jrdothoughts via @CoinDesk.
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HIGHER
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ē±äŗFLYé¢å®éę±ęé«ļ¼å¹¶äøę ¹ę®@SonicEcosystemē¤¾åŗēåé¦ļ¼ę们å³å°čæč”ēå
¬åå°åØSonicå¹³å°äø仄ē½ååę¹å¼čæč”ćSonic锶ēŗ§åč®®/ē¤¾åŗēę“»č·åäøč
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¬åå°äŗäøåØčæč”ć. ē½ååę„čÆ¢åØ
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Interdependent specialization has been a key to human advancement, it is as embedded in the code of a blockchain as it is in our DNA. We stand on the brink of a transformation in the efficiency and bounty of markets fueled by innovation in DeFi and AI.
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New Boosters on @magpieprotocol are live. 146,000 Magpie Eggs already claimed. Discover @sonicecosystem protocols and yield options with Boosts featuring @beets_fi, @rings_protocol, @eulerfinance and @silofinance. While these protocols have a multitude of yield options we're
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WL-only was a success. 400+ users were able to participate with ease. The final step in public rounds begins shortly. Next up, FLY(3,3) on Sonic.
$FLY WL Sale has ended and will be open for all in 30 mins (7:30 AM ET)!. Head over to @FjordFoundry now to grab your spot, exclusively on the @SonicEcosystem!. Sale link: No Whitelist, everyone can participate!
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1/7.Smartdex 2.0 beta release is an important milestone for our team and NIOX DAO. With the growth in liquidity across different chain, itās evident that future of DeFi is multi-chain with Ethereum leading the way.
The day has finally arrived!. We proudly present to you the fruits of our labor: Smartdex 2.0 Beta! . Learn more on our blog:. Let us know what you think!.
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Proud to be building with the sharpest minds and on the fastest and meanest chain on the planet @SonicEcosystem. Time to double down. FLY on Sonic š.
Coming soon to Fjord as a Fjord partnered project, the @magpieprotocol Pre-Sale!. š£ The first aggregator in the @sonicecosystem. š£ Invested in by @jump_ & @paraficapital. š£ Offers >90% better pricing than leading DEX aggs.š£ Achieved $4.5 bn in vol across 19 blockchains. š£
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@SonicAssistant @AndreCronjeTech Weāre releasing a dedicated Sonic eco page in the Magpie app that will allow direct one-click DeFi actions like buying, staking, LPing, minting different assets. These actions will be incentivized by Magpie fragments (tokenized gems by merkl) and Magpie points convertible to FLY.
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Go get you some stkscUSD and stkscETH and head over to Pendle
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Option 3.1: Silo + Origin using @magpieprotocol . 1. Swap wS (or any asset) to wOS and deposit into Silo vault in a single step.2. Borrow wS on Silo.3. Repeat
Option 3: Loop wOS/S on Silo. 1. Wrap OS for wOS on Origin.2. Deposit wOS on Silo and borrow S.3. Swap S for OS.4. Repeat 1-3. Max leverage is 10x thanks to 90% LTV and currently nets:.š 66% APY.š 80x Sonic Points/$.š 14.5x Silo Points/$. NFA (it's FA).
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apes be winin'.derps be berpin'.silo be pendlein'.magpies be flyin'.sonic be boomin'. state of the sonic trenches.iykyk.
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Hear me outā¦. ve(3,3) model, but designed for traders. xFLY. On Sonic. š
@magpieprotocol is taking a very interesting approach to the ve(3,3) model. Instead of rewarding asset stagnation through lockups, Magpie flips the script ā incentivizing actual token movement (i.e., trading). xFLY holders can bribe for rewards tied to cross-chain activity of.
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Sonic chadz crashed the Fjord page with over 9k unique visits.
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5.5M$ worth of scETH and scUSD minted/swapped in around 24 hours. Boost szn on the @sonicecosystem is just getting started, many more boosters coming up. Are you boosting anon?.
Boost szn on Sonic is here!. Fly on over to the boost page now to start stacking them rewards!. We're kicking off Boosts with @Rings_Protocol showcasing how quick & efficient it is to swap through the Magpie app on @SonicLabs.
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As always, weāre obsessed with better pricing and continue to add liquidity sources. @XPRESSprotocol has been providing some really efficient routes, credit to the team. Bullish on CLOBs. Next @Balancer v3 hooks, @aave , @Angles_Sonic & more.
4.5M daily volume. doubled in less than a week. just 200k in the vault - extending caps soon. Sonic
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Fee Monetization for builders just fucking works. Come build with us. Sonic.
The Sonic ( $S ) ecosystem ranked 5th in 24-hour app revenues yesterday. Projects building on Sonic mainnet are raking in huge fees, on top of the incentives from @SonicLabs. Developers should be taking notice, attracting more projects and keeping the flywheel in motion. š
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UniversalX on Sonic . Buy S or any @SonicEcosystem token directly with SOL (and other chains/assets) . Sick chain abstracted UX, give it a shot. @magpieprotocol under the hood powering swaps on Sonic.
we're hitting the @SonicLabs ecosystem at full speed. @degenexpress69 (š handle) now features a direct integration with our chain-abstracted ecosystem; allowing you to buy launched tokens with assets from all chains (even SOL!). it's really that simple.
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@0xngmi Itās difficult for EVM aggs to build a competitive agg on Solana (unless structured to scale from the get-go), not only because of the language difference but other limitations like the tx size limit, execution models, TPS, fees and node infra. Something weāve been acutely aware
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Hope you all are doing well considering the recent FTX/Alameda debacle. We at @magpieprotocol are entirely unaffected, fortunately. The recent turn of events makes an even stronger case for DeFi and non-custodial protocols like Magpie. Stay safe, and have a great week ahead.
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Sick! We aggregating balancer v3 at @magpieprotocol . Efficiency checks out. More v3 hook support coming soon.
THIS IS JUST A TEASER. HIGHER.
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A lot happened last month at @AI_Autonio .and there's a lot to look forward to. Hereās a recap of September -. #DeFi $NIOX.
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Throughout the years with Autonio we faced several existential crises but survived it all thanks to an incredibly passionate team and a loyal group of supporters and backers (shout out to the Autonio DAO).
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The origin story of the Magpie team dates back to 2017 when we started working on @AI_Autonio , a largely self-funded project building intelligent trading tools and infrastructure.
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I've had the pleasure of collaborating and working with several big brain teams & individuals, that inspire us to keep building hard, and while there are some amazing projects and teams working on cross-chain infrastructure and dApps.
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It's been a challenging but exciting journey so far. Special thanks to all our backers: @jump_ , @paraficapital , @RepublicCrypto , @bigbrainvc , @DoublePeakGroup , @sandeepnailwal , @wormholecrypto , @anjan_vinod.
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Yo I love my Sheep. Love to see @magpieprotocol integrated,.donāt have to switch back and forth anymore. Stacking up more. my wolves are hungry. watch out.
So we integrated @magpieprotocol to aggregate our swaps. It will give you the best swap results by looking at both @ShadowOnSonic and @Equalizer0x . or if you prefer, you can just go to the partner dexes to do the swap via the links.
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Our advisors and peers that have shared their invaluable insights while relentlessly building and contributing to the space: @ValidationCap , @galenlawkun , @PhilippZentner , @pranaymohan, @lifiprotocol , @nomadxyz_ , @CelerNetwork , @KanavKariya , @biconomy , @aniket_jindal08.
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š Excited that Magpie has reached 100,000 followers on Twitter! š. š Humbled by the incredible support! Long way to go and lots to look forward to! #MagpieProtocol #100KMagpies #crypto.
š£ Weāre thrilled to announce our flock on Twitter is now 100,000 Magpies strong!. Celebrate with us by watching our journey so far š„ and participate in our #giveaway š for a chance to win big! #100KMagpies. How to participate in the #giveaway?š. āļø Post a Tweet and include a
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5/7.Via the Invest section users will be able to access best performing investment pools, farms and our own intelligent, risk-adjusted custom pools we call Smartpools powered by Balancer v2.
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While Magpie Protocol - a cross-chain liquidity aggregator designed to simplify cross-chain trading - is something we've been working on since Q4 of last year. .
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HIGHER. Now go to .Swap/mint some scUSD and scETH and earn some Eggs and Fragments while youāre at it. New booster incentivizes for depositing Rings scAssets coming up next. Get your scUSD and scETH ready.
ONE HUNDRED MILLION U.S. DOLLARS!. $20M+ TVL SINCE THIS MORNING. HIGHER.
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Integrating AI into DeFi protocols, more specifically AMMs is the next step in its evolution towards a sustainable solution. Our work on the Intelligent Market Maker or IMM revolves around improving efficiency and hence sustainability of on-chain market making.
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We realized that there is room for a different approach that affords the kind of user experience we believe to be essential for the widespread adoption of DeFi, which ultimately is the mission.
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Look mum, i made it š„¹. Sonicš„.
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6/7.Weāre grateful for the phenomenal work and contributions of the likes of @0xProject , @Uniswap , @0xPolygon , @BalancerLabs , @ConnextNetwork , @AnyswapNetwork , @loopringorg . Thanks to them, teams like ours have the right foundations to build upon.
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Finally, shout out to the entire team. Really glad to have a squad like this. Super psyched about what we're building and hopefully we're able to drive value for all users and DeFi space in general! Feel free to reach out to me over twitter/telegram if you'd like to learn more!.
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Staking and Active Voting:.ā¢ Stake FLY ā Get xFLY (voting power).ā¢ Vote on which assets receive FLY emissions.ā¢ Share protocol revenue.ā¢ Lock & Trade to earn more voting power + protocol revenue.ā¢ Liquid staked version of xFLY for passive participation and fee buybacks. The
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Trading incentives work differently now:. ā¢ FLY emissions donāt go to LPsāthey offset trading costs.ā¢ The most-voted assets get the highest trading subsidies.ā¢ Trading incentives ā more volume ā more fees & vote incentives ā more FLY & xFLY demand ā strategic emissions.
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Aight I'm derping.
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7/7. Weāre excited about this next phase of the project with more integrations and protocol deployments coming up. While this is an important milestone it is just the beginning.
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FLY(3,3) is a new approach, and weāre working with power users & stakeholders to refine our model for mid-term growth & long-term sustainability. Enter the Magpie Councilāa power-user group directing emissions where they drive real value. Want in? Apply here:
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Goes to show both the value of aggregation and the impact a group of power users can have. This is exactly what FLY(3,3) is designed for. Aligning incentives where they belongs rewarding long term, power users, creating a win-win.
its quite impressive that @CoWSwap can consistently achieve 6-7b monthly volume with under 2k users. average customer revenue is 3 ETH per year.high fidelity business (high return rate >80%)
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Magpie should be your go-to solution for all DeFi execution. We get you the best prices and allow staking, lending, LPing and minting as part of a single tx. Excited to see more projects in the @SonicEcosystem use our low-latency ultra efficient infra for automated strategies.
has officially integrated @magpieprotocol ! š¤. Through this strategic partnership, our platform now aggregates all swaps on @SonicLabs , @base , and @blast to ensure the most competitive prices for every asset. This integration has boosted our swap
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4/7.This commitment brings us to the Smartdex 2.0 beta release which is an important step in the right direction. Subsequent updates of the exchange will improve on the availability of cross-chain bridges, assets and liquidity sources in the Trade section of the exchange.
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ve(3,3) was originally designed by @AndreCronjeTech , combining Curve's ve model with Olympus' (3,3) staking, aligning governance, protocol revenue and liquidity incentives into a sustainable model. The focus was driving liquidity and trading efficiency. We're taking it a step
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@SonicAssistant Deploying @magpieprotocol on Sonic has been fun and insanely rewarding. The UX for trading is best in class. While weāre a multi-chain liquidity aggregator; weāre proud to call Sonic home for Magpie and our upcoming token.
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The problem with ve3,3 is that it requires active participation via voting. This is what @ShadowOnSonic x33 solves. It allows passive participation and uses the accumulated fee for buy-backs to bid x33, accruing value back to x33. Magpie will feature a liquid staked version of.
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2/7.Solutions that offer a seamless way to track, trade and invest in assets across different chains will play a pivotal role in further adoption and growth of DeFi.
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Having built the first DEX market maker (back in 2017 wen BitShares š was the leading DEX), being early adopters of the 0x protocol, collaborating with the likes of Loopring and Polygon, weāre committed to building intelligent trading solutions and infrastructure.3/7.
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LFR!.
Swap Season is here š. Weāve been heads down on making swaps to longtail chains like @Berachain or @sonic even better on Relay. Our integration of @magpieprotocol is doubling down on this effort, bolstering speed & affordability for the entire community. Enjoy instant swaps at.
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$NIOX Earndrop is here! This community round of the earndrop will pave the way for a series of engaging automated trading campaigns! .
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#NIOXMaker now supports @loopringorg.This marks the beginning of an effort to further push the boundaries of #DeFi . @finestonematt @daniel_loopring .
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gmsonic ghibli edition.Corval and Drac been getting us through the highs and lows. Always a fun chat.
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The chain with a bear has a bird on it too š»š„.
1/5. q5 is here. @berachain is now live on Magpie's front-end dApp and API. You can use our dApp or plug-in our API get the best prices available!. š»š
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Agree. Optimal incentives can be difficult to model (especially when incentivizing trading activity), but when done right, they can serve as a massive advantage. That's our goal with FLY(3,3).
Token incentives represent the biggest distribution unlock since programmatic advertising and likely the biggest idea in crypto that very few talk about at all - yet becoming a key unfair advantage for those that are figuring it out today in real time.
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Instead of subsidizing LPs, emissions now directly subsidize trading cost for active traders, market makers, degens. A trader-first ve(3,3) model. Hereās how it works:.
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Magpie is positioning itself as the most optimized trading experience in DeFi:. ā¢ Best aggregation.ā¢ Best execution.ā¢ Best incentives.
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Then comes the multiplier system. Stakers and traders earn boosts based on activity. The more you trade + stake, the higher your multiplier. But it decays over time, meaning early & loyal users get the most value. Basically ve++
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Effective ways to incentivize LPs and stakeholdersĀ have largely been solved, Appropriately driving incentives for tradersānot so much. Magpie is an aggregator, router, and execution engine. Our edge? Pricing and execution. So why not take incentives where they should beāto the
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The trader meta is coming. If youāre a trader, investor, token issuer, keep watch.
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The real impact of FLY incentives:. ā¢ Subsidized trading costs on key pairs.ā¢ Bribesātraders and token-issuers compete for xFLY votes.ā¢ Higher protocol revenue.
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Apologies for the growth-focused rant but i'm just too fired up for what's coming. we are just getting started. Lock the fuck in, anon.
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@rektmillionaire @magpieprotocol The TGE is happening within the next few weeks, as stated on the Fjord sale page. I understand that it can be bothersome to not have a specific date for the TGE, and saying ātrust meā isnāt an acceptable response, and thatās not what Iām saying. Weāre in full grind mode, locking.
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@magpieprotocol Intern missed out on mentioning the legend @YJN58.who, in my view, has been instrumental in designing and driving this culture for Sonic.
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š£ Attention, feathered friends! . š Mark June 19 on your calendars and prepare to take flight with Magpie! . The day you've been eagerly awaiting is almost here, where seamless cross-chain swaps become a reality. šÆ . Are you ready to soar high in the world of #DeFi? š
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We will win direct consumers with consistently improving UX, pricing and optionality. We have been, and will continue to win more integrations for the same reason. We're a driven team with proven tech, and we're here to WIN.
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Staying true to our EVM roots, we will be live day-1 on @megaeth_labs and @monad_xyz . No delays. Just pure execution from day one.
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The interest in the pre-sale was unprecedented and we sold out within a couple of minutes entirely. We're all learning to catch up to the Sonic speed.
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Next step in our growth strategy is to scale to more EVM and non-EVM chains such as gigascale SVM @EclipseFND (gsvm fam) which are thriving with a vibrant builders ecosystem and community. And ofcourse, Solana. Goind head-to-head with Jupiter, especially on pricing.
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I feel for a lot of the members that weren't able to get-in into the pre-sale given the hiccups, but there's more to look forward to. Onwards and Upwards.
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