MagicSquare：Web3的AppStore

With the prosperity of the ecosystem on the chain and the endless emergence of encrypted applications, there has not yet been an App Store-like app store in the market, which aggregates these applications and displays them in a unified manner.

Users often need to switch frequently between different platforms and different pages, information is fragmented, and traffic is also fragmented.

On the other hand, everyone in Web3 is an investor. It is not easy to find unique and novel applications. There is also a lack of a platform on the market that can independently discover good projects.

Recently, I found an application called the Web3 App Store, called Magic Square.

Magic Square is a multi-chain, community-driven encryption application store that combines Web2's application store function with Web3's DAO mechanism, and helps users more easily access high-quality encryption products through the community's review mechanism.

These include various applications, CeFi and DeFi, NFTs, games and other services.

Last month, Binance Labs and Republic Capital co-led a $3 million seed round for Magic Square.

Other strategic partners include KuCoin Labs, GSR, IQ Protocol, Gravity Ventures, Alpha Grep and angel investors.

Mia Mai, Investment Director at Binance Labs, commented: "Binance Labs sees potential in Magic Square, especially with its user-friendly design and business model as a Web3 dapp store.

We believe that the product features supported by Magic Square, such as Magic ID, Magic Store, Magic Community, and Magic Affiliates, have the potential to be the driver of mass adoption and implementation of the Web3 ecosystem. "

Next, the author will take you to find out. Magic Square provides rich product features, including Magic Store, MagicID, Magic Community and Magic Affiliates, etc., to build a whole ecosystem for developers and users.

Among them, Magic Store is a Web3 solution.

Applications are reviewed, ranked, and prioritized by the community through a DAO mechanism, with clear profitability metrics and $SQR rewards to incentivize validators, creators, and users to participate.

Incentives to ensure apps on the Magic Store are safe and meet strict quality standards.

There are two types of validators for reviewing applications, one is standard validator, each user can become a standard validator without staking any $SQR or passing the qualification test.

Standard validators receive 20% of validator funds, which are shared by up to 500 participating standard validators.

To become a professional validator, you need to pledge 5000 $SQR and pass the validator qualification test.

Professional verifiers will verify according to the DAPP's practicality, speed of use, experience and other indicators (each DAPP must pass automated tests to provide statistical data), and professional verifiers can get rewards in the process of each verification , 80% of validator funds will be allocated to qualified validators.

In order to give back to users, bind the interests of users with the interests of the platform.

Magic Square has designed a set of Use to Earn mechanism. For ordinary users, just download and use DAPP to get rewards.

Magic Square distributes rewards on a daily basis based on users' personal ranking, their Karma Score.

Karma Score is used to track users' Magic Square activities, including likes, comments, downloads, votes, challenges, transactions, staking, etc. The higher the user's score, the more the community will trust them.

This unique model allows users to earn $SQR just by investing their time. Users with the highest monthly scores will receive additional NFTs as a special reward.

Users will be able to use MagicID (Decentralized ID) to quickly access all content that has been reviewed and approved by the community with one click. User privacy is guaranteed through SSI (Self-Sovereign Identity) technology, and security and convenience are integrated with one-click access to quickly log in to all applications.

At the same time, the Magic Affiliates referral program offers premium items the opportunity to drive more traffic from the store and partner network.

For developers, Magic Square can help them get started quickly and attract more traffic. For users who are eager to use affiliate marketing, it is possible to help promote the project and earn rewards.

It is also very convenient for users to use, and the emergence of Magic Space allows users to access all favorite applications on one panel.

In addition, a built-in DeFi protocol can also be added to Space. In terms of DeFi services, Magic Square has built-in AMM, mortgage, loan, insurance, etc., which have been reviewed by the community, into Magic Space. This way, users can access these services directly from the application page.

At present, Magic Square has launched a beta version, which can be accessed by any user through a linked wallet, and the public beta version will be open to 50,000 pre-registered users.

SinoDAO, Ignite China Web3, friends who are interested in participating send me a private message: