Magic Square Integrates 1inch Swap API, Announces Launch of Swap Competition

April 16th, 2024 –– Web3 App Store Magic Square has announced its integration of the 1inch Swap API, and with it, the launch of a $SQR Swap Competition valued at $25,000 – designed to reward users for their active participation and transactions.

The integration brings to Magic Square users the unrivaled swap conditions offered by 1inch, which supports 12 networks and boasts over 380 liquidity sources. Responsible for more than 30 million total swaps and a volume exceeding 300 billion, the 1inch Swap API is set to significantly enhance the utility and efficiency for the popular App Store’s customers.

Andrey Nayman, Magic Square Founder and CEO, expressed enthusiasm for the integration, saying: “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.”

“We are thrilled to collaborate with Magic Square,” added Alexandra Fetisova, Partners & Community Lead at 1inch. “The 1inch API, offered by our developer portal, aims to make users’ DeFi journey smoother and more efficient.”

The $SQR Magic Swap Competition adds an exciting layer to the platform, rewarding users based on their total swap volume. In addition to the competition, every swap transaction earns users Karma points, further incentivizing active participation within the ecosystem. Magic Karma, its unique reward system, awards points for a variety of contributions and activities, including participating in campaigns, inviting friends, claiming hot offers, and now also through Magic Swap. At the end of each day, 10,000 $SQR will be distributed among Magic Store users based on the Karma points they have collected.

The Magic Swap Competition and Karma Rewards for Swap significantly enhance the utility of the Magic Store and the $SQR token. By offering additional Karma points for swapping to $SQR, these features could also increase the demand for the $SQR token.

About Magic Square

Magic Square is the first Web3 App Store, designed to tackle the challenges of user acquisition, enhance user engagement, and offer a rewarding experience through its community-driven platform. The platform connects high-quality users with projects, fostering meaningful interactions and growth. Backed by Binance Labs, Magic Square has over 4.5 million registered users and more than 1,300 apps and games listed on its platform. With the upcoming release of the Magic Launchpad, Magic Square is set to become a comprehensive solution for growth hacking, encompassing brand awareness, user acquisition, and now fundraising.