ðMagic Swap
Information about Magic Swap (Powered By 1inch)
What is Magic Swap?
Magic Square has integrated the 1inch Swap API within the Magic Store, allowing users to seamlessly swap cryptocurrencies in the Magic Store and earn Karma Points in the process!
What is 1inch Swap API?
1inch Swap API enables users to make the most efficient self-custody swaps in major DeFi ecosystems. It compares crypto swap rates across multiple liquidity sources to ensure users get the best possible rate.
1inch Swap API supports the exchange of ERC20 and BEP20 tokens across several blockchain networks, including Ethereum (ETH), Binance Smart Chain (BNB), Polygon (MATIC), Fantom (FTM), OP Mainnet (Optimism), Base, and Arbitrum (ARB).
Before you begin:
Ensure that you are logged into your Magic Store account.
Make sure that you have enough funds for the swap you wish to execute.
Ensure you also have enough funds to cover the gas fees.
Remember to add the token to your wallet before starting the swap.
You earn Karma Points for every token purchase. More information is provided below.
How to Swap Tokens with Magic Swap?
Step 1: Connect Your Wallet to the Magic Store
Choose your wallet provider and click on the "Sign-in" button.
If you are swapping to $SQR, you will need to add the token to your wallet before beginning the swap. Follow these steps:
Click on "Import Tokens" in your wallet.
Paste the Token Contract Address (0x2B72867c32CF673F7b02d208B26889fEd353B1f8) and click on "Next".
Click on "Import", and you're all set.
Once you log in and add the token to your wallet, find the "Swap" button on the left side of the screen and click on it.
Step 2: Choose the Network, Token, and the Amount
In the "From" field, select the network you wish to swap on. For this guide, we'll choose Binance Smart Chain.
Click on "Select a Token" under "You Pay" to choose the token you want to swap. For this tutorial, we'll select $BNB.
Click on "Select a Token" under "You Receive" to pick the token you wish to receive. For this example, we'll choose $SQR.
Now, enter the amount you wish to swap.
Step 3: Give permission to Swap
Allow Magic Swap to swap your $BNB tokens so you can proceed with the token swap.
Step 4: Swap tokens and Sign the transaction
Click on the "Swap" button, then sign the transaction by clicking on the "Confirm" button.
Congratulations! You've successfully swapped your tokens!
How Many Karma Points Do You Earn Per Swap?
For every token swapped to $SQR, you will earn 0.25 Karma Points for each $1 swapped. (Daily Limit: 5000 Karma) For swaps between other tokens, you will earn 0.1 Karma Points for each $1 swapped. (Daily Limit: 2500 Karma) For swapping from $SQR, you will not earn any Karma Points. Total Daily Karma Points Cap: 7500. Note: Karma may take up to 30 minutes to appear in your MagicID after completing a swap.
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